Group 1 - The Federal Reserve cut interest rates by a quarter point to the 4% to 4.25% range, marking the first rate cut since December 2024 [1] - Stephen Miran, a new Fed member and former economic adviser to Trump, voted against the decision, advocating for a half-point rate cut instead [1][8] - The Fed's decision reflects a shift in focus from inflation concerns to the weakening labor market, as indicated by Chairman Jerome Powell's recent statements [4] Group 2 - Central bankers have been cautious about rate cuts due to concerns that tariffs could reignite inflation, which has shown signs of picking up over the summer [2] - The Dow Jones Industrial Average increased by 414 points, or 0.9%, reaching a new intraday record following the rate cut announcement [7] - There is speculation about the possibility of another rate cut at the Fed's October meeting, as officials had previously predicted two cuts for the year [7]
Federal Reserve cuts interest rates a quarter point as US job market wobbles
New York Postยท2025-09-17 18:02