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The Federal Reserve finally cut interest rates today—but that’s not likely to stop the president’s pressure campaign against the central bank anytime soon.
Hesitant to overstimulate the economy amid the looming threat of “somewhat elevated” inflation, but also mindful of two consecutive weak jobs reports, the bank’s board voted for a middle path: a 0.25 percent cut to interest rates. That’s almost certainly less than Trump would like—he posted on social media over the summer that the rate was “AT LEAST” three points too high—but enough to let lenders breathe a little easier in the coming month