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After months of speculation and intense pressure by President Trump, Federal Reserve Chair Jerome Powell announced on Wednesday, Sept. 17, that the central bank would cut interest rates by 25 basis points.
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Fed Meeting Live Updates: Interest Rates and Economic News The New York TimesFed set to announce first rate cut in nine months as Trump continues to push for influence CNNFederal Reserve poised to cut interest rates NBC NewsFed expected to cut rates, update views of Trump economic plan with new projections Reuters
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The Fed is looking at a quarter-point cut, navigating White House pressure and a balancing a softer job market with stubborn inflation.
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The Fed is likely to lower interest rates by a quarter percentage point Wednesday in an effort to cushion the sagging job market. The move comes as policymakers face growing pressure from Trump.
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White House economist Stephen Miran was quizzed by senators about whether he could make decisions independently of President Trump, if he's confirmed to a seat on the Federal Reserve's governing board.
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