The Federal Reserve lowered interest rates for the third consecutive time, aiming to provide relief for borrowers before President-elect Donald Trump takes office.
The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday, delivering relief for borrowers at the central bank's last meeting before President-elect Donald Trump takes office next month. The move marked the third consecutive interest rate cut since the Fed opted to start dialing back its fight against inflation in the fall. The Fed has lowered interest rates by a percentage point in recent months.loan payments for everything from credit cards to mortgages.
Even after recent cuts, the Fed's interest rate remains at a historically high level of between 4.25% and 4.5%.could prompt central bankers to freeze interest rates in place as they bring price increases under control. A humming economy, meanwhile, shows little need for the jolt of activity that lower borrowing costs may provide, the experts said. Consumer prices climbed 2.7% in November compared to a year ago, marking two consecutive months of accelerating inflation, government data last week Inflation has slowed dramatically from a peak of more than 9% in June 2022. But the recent uptick has reversed some progress made at the start of this year that had landed price increases right near the Fed's target of 2%
FEDERAL RESERVE INTEREST RATES INFLATION DONALD TRUMP ECONOMY
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