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2025-09-18 02:13:20
[Federal Reserve cuts interest rates by 0.25 percentage points and signals further cuts are possible] DON – The Federal Reserve approved a 0.25 percentage point interest rate cut on Wednesday, the first in nine months. Officials judged that recent weakness in the labor market outweighed recent setbacks in inflation. Wednesday's decision comes against the backdrop of unprecedented political pressure on the central bank, which is typically allowed to operate independently of direct political control. For months, US President Trump has harshly criticized Fed Chairman Jerome Powell for the Fed's reluctance to cut interest rates. Senate Republicans confirmed Stephen Miran's appointment to the Federal Reserve Board on Monday evening, and he was sworn in on Tuesday morning before the start of the Fed's two-day meeting. Miran, a senior economic adviser to Trump, is currently on unpaid leave. He has said he intends to return to the White House when his term at the Fed expires early next year.
