Fed cuts interest rate by 0.25% - Third reduction in a row to cope with Trump's tariff policies
The US Federal Reserve cut interest rates by 25 basis points, the third straight rate cut in this easing cycle, as it braces for uncertainty stemming from the tariff policies of the incoming Donald Trump administration.
"The economic outlook is uncertain and the Committee is mindful of risks to both sides of its dual mandate," the Federal Open Market Committee, the central bank's policymaking body, said in a statement.
In support of its goals, the committee decided to lower the target range for the federal funds rate by 25 basis points to 4.25 to 4.5 percent.
The committee noted that it "would be prepared to adjust the stance of monetary policy as necessary if risks emerge that could impede the achievement of goals."
Fed officials have indicated they may soon slow the pace of interest rate cuts, not only because of persistent inflation, but also because of uncertainty surrounding the incoming Trump administration's tariff policies, which could increase inflation. .
After meeting between September 17 and 18, the central bank cut the target range for the federal funds rate by 50 basis points, marking the first rate cut in more than four years and signaling the start of an easing cycle.
After meeting between November 6 and 7, the bank further cut its target target for the federal funds rate by 25 basis points to 4.5 percent to 4.75 percent amid cooling inflation and a weak labor market.
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