DEVELOPING: Fed Set to Cut Rates for First Time This Year Amid Trump Pressure

Breaking News: Fed Set to Cut Rates for First Time This Year Amid Trump Pressure The Federal Reserve is expected to cut interest rates by a quarter percentage point on Wednesday, marking the first rate reduction this year. The move comes as policymakers face pressure from the White House to stimulate the economy. The rate cut is expected to bring the benchmark rate down to 4-4.25%, a decrease of 0.25% from its current level. This decision follows signs of a slowdown in hiring and a weakening job market, prompting the Fed to take action. Fed Chair Jerome Powell and his colleagues have been under pressure from President Trump, who has advocated for lower interest rates to boost economic growth. The White House has been pushing for more control over the central bank, bypassing safeguards designed to insulate it from political influence. The rate cut is expected to have an immediate impact on the economy, with investors and businesses likely to respond positively to the news. However, the long-term effects of this decision remain uncertain. This is a developing story, and we will provide updates as more information becomes available. The Federal Reserve's decision is set to be announced at 2 PM ET on Wednesday. Developing Story Disclaimer: This article is based on confirmed reports and sources. We will continue to update the story as new information emerges. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Npr.*