HomeTrending NewsFederal Reserve Cuts Interest Rates Amidst Political Shift Following Trump’s Election Victory

Federal Reserve Cuts Interest Rates Amidst Political Shift Following Trump’s Election Victory

In a decisive move the US Federal Reserve lowered interest rates by 0.25% on Thursday, bringing them to a range of 4.50% to 4.75%, despite the political landscape shifting with Donald Trump’s recent election win. Fed Chair Jerome Powell assured that policy decisions would remain unaffected by the political transition, stating, “We don’t speculate or assume.”

The rate cut, aimed at easing borrowing costs amid high inflation concerns, reflects the Fed’s ongoing economic focus. Powell emphasized the independence of the central bank, affirming he would not resign even if requested by the incoming administration. This cut follows a previous half-point decrease in September, as inflation eased to 2.1% post-pandemic, supported by a resilient job market despite a hiring slowdown in recent weeks.

With Republicans poised to secure both Congressional chambers, markets are eyeing potential impacts on fiscal policies. President-elect Trump has previously criticized Powell and voiced interest in influencing the Fed’s rate decisions, raising questions on future Fed independence amid a turbulent political and economic landscape.
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