SummaryFederal Reserve Chair Jerome Powell tells a news conference about the US central bank's decision to cut its key interest rate by 0.25 percentage points This is the Fed's first cut this year and puts the target range for its main lending rate at 4% – 4.25% Speaking to journalists, Powell says "the balance of risks has shifted" toward the employment side of the Fed's mandate, where as the risks had previously been tilted toward inflation In their announcement, Fed officials indicated they expect two more quarter-point rate cuts this year.
In voting for this cut, only one Fed official broke rank and pushed for a larger cut, writes our New York business correspondent Michelle Fleury.
It was Stephen Miran, who just recently joined the board of governors and is seen as close to the president President Donald Trump has criticised Powell for not cutting interest rates faster, calling him everything from "too late" to a "numbskull"
Published: September 17, 2025 5:48 pm
Source: BBC — Read original