Last Wednesday, the US Federal Reserve finally implemented a quarter-point reduction in interest rates, setting them between 4 % and 4.25 %.

In a climate of uncertainty, the Fed made the announcement after a lengthy meeting of its Federal Open Market Committee (FOMC).

A weaker labor market has been a key factor in this process, with President Donald Trump’s pressure on Jerome Powell continuing unabated in recent weeks.

There was only one dissenting vote, cast by the new Fed governor, Stephen Miran, whose appointment was pushed by President Trump himself. The official called for a larger rate cut.

“The Federal Reserve usually keeps interest rates high to control inflation sustainably. But this time, concerns about employment prevailed, even though inflation remains above 2%.”

M.Pino

Source: DW

(Reference image source: Anne Nygård on Unsplash)

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