Trump has a surprising update on the future of Fed boss Jerome Powell - as interest rate decision announced
The Federal Reserve has cut interest rates, amid reports that Donald Trump will allow Chair Jerome Powell to remain in his job until 2026. The central bank made a 25 basis point cut Thursday, bringing rates down between 4.5 percent and 4.75 percent. Lower rates are good news for consumers as it makes borrowing money less expensive, and should mean cheaper loans and credit card rates eventually trickle down to Americans.
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