The Federal Reserve cut interest rates by a quarter point, the second reduction this year. A combination of strong data and Donald Trump’s return to

Fed Cuts Rates Again

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2024-11-07 23:30:05

The Federal Reserve cut interest rates by a quarter point, the second reduction this year. A combination of strong data and Donald Trump’s return to the White House muddles the outlook on what comes next.

Federal Reserve officials cut interest rates on Thursday, their second reduction of 2024 and the latest sign that policymakers believe that inflation is finally coming under control.

The Fed’s move comes just days after America elected Donald J. Trump as its next president, and at a moment when the U.S. economy stands on the brink of change.

Fed officials lowered interest rates to a range of 4.5 to 4.75 percent on Thursday, but avoided talking about politics in their post-meeting statement. They included no overt signal about what might come next for interest rates in their release.

And Jerome H. Powell, the Fed chair, said during a news conference on Thursday afternoon that the Fed’s immediate path would not be impacted by Mr. Trump’s win.

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