Watch live: Fed Chair Jerome Powell answers reporter questions after first rate cut of 2025

Core Points - The Federal Reserve has implemented its first interest rate cut of 2025, reducing the benchmark interest rate by a quarter percentage point to a range of 4%-4.25% [1] - Analysts had anticipated this rate cut due to indicators of a slowdown in the labor market, with most traders expecting a 25 basis point cut rather than a more significant reduction due to ongoing inflation concerns [2] - The Fed's updated "dot plot" indicates expectations for two additional rate cuts later in the year [3]