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2025-09-18 07:17:17
[Powell emphasizes the independence of the Federal Reserve] On the afternoon of September 17th, Eastern Time, and early this morning (September 18th) Beijing Time, the U.S. Federal Reserve announced a 25 basis point interest rate cut and continued balance sheet reduction. This is the first interest rate cut by the Federal Reserve since December 2024, and it is expected to cut interest rates twice more this year. When answering reporters' questions that day, Federal Reserve Chairman Powell once again emphasized the independence of the Federal Reserve. Since taking office in January this year, U.S. President Trump has continued to pressure the Federal Reserve to cut interest rates and nominated Stephen Milan, Chairman of the White House Council of Economic Advisers, to serve as a member of the Federal Reserve Board. Powell also confirmed that the Federal Reserve is implementing a 10% staff reduction plan, covering the Board of Governors and all reserve banks-after completion, the size of the Federal Reserve's employees will basically return to the level of ten years ago. (CCTV)
