Federal Reserve cuts interest rates by a quarter point to boost job market and fight inflation | N18G

The Federal Reserve cut its benchmark interest rate by a quarter point, following a larger cut in September, to address falling inflation and support the job market. The new rate stands at 4.6%, down from a high of 5.3%. While the Fed initially planned further rate cuts, ongoing economic growth and expectations of higher inflation under Trump’s presidency could impact future decisions. Fed Chairman Jerome Powell said the election results would not affect short-term rate decisions and emphasized the goal of gradually lowering rates to a “neutral” level. Concerns remain about possible political interference in the Fed’s independent decisions.