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What we covered here • the federal reserve cut its benchmark interest rate wednesday for the first time since december and signaled more cuts are likely this year. The federal reserve slashed interest rates aggressively wednesday, announcing the first rate cut since march 2020. The federal reserve on wednesday kept interest rates unchanged for the fifth consecutive meeting as it remains under intense pressure from president donald trump and his allies to lower borrowing.

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The federal reserve held interest rates steady again wednesday as officials continue to wait for the fallout of president donald trump’s sweeping policy changes. The central bank is in a sweet spot with monetary policy and the us economy and is in no rush to make a rate cut, federal reserve chair jerome powell said wednesday. After the federal reserve’s decision to hold interest rates steady on wednesday, traders are predicting rate hikes will be off the table for the rest of this year.

The federal reserve hiked its target interest rate by three quarters of a percentage point, as expected.