Home Business Facing Trump’s pressure, the Fed cuts rates for the first time this year

Facing Trump’s pressure, the Fed cuts rates for the first time this year

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Federal Reserve Chair Jerome Powell and his colleagues lowered their benchmark interest rate Wednesday, amid fears of a weakening job market.

The Fed lowered 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 President Trump.

(Image credit: Kent Nishimura)

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