Federal Reserve announces first rate cut of Trump's second term
Chairman Jerome Powell had been hesitant to make such a move, despite public urging from Trump.
Donald Trump, con Jerome Powell en 2017
The Federal Reserve on Wednesday announced a 0.25% interest rate cut, marking the first such move since President Donald Trump returned to the White House.
Chairman Jerome Powell had been hesitant to make such a move, despite public urging from Trump. The move lowered the Fed rate from 4.25% to 4.00%, USA Today reported.
The Fed has not cut rates since late 2024. While the move is a win for Trump, he is unlikely to be satisfied with Powell, whom he has dubbed "too late" Powell due to his hesitance to lower rates.
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