The Federal Reserve cuts interest rates by a quarter point to combat inflation, with markets rallying to all-time highs following Trump’s election victory
The Federal Reserve announced Thursday that it has cut interest rates by a quarter point in response to ongoing efforts to combat high inflation. This rate cut follows a larger, half-point reduction made in the previous meeting in September. These actions reflect the central bank’s commitment to fighting inflation and achieving its 2% target.
During the meeting, a reporter asked how Trump’s election could impact the Fed’s policymaking. Jerome Powell responded, “In the near term, the election will have no effect on our decisions.” Following the recent announcement of Donald Trump as the election winner, the markets have rallied to reach all-time highs. Many investors will now be closely watching the markets as we approach the end of the year.
