Federal Reserve set to cut interest rates again as post-election uncertainty grows

Quick Summary:

WASHINGTON—Federal Reserve officials are poised Thursday to reduce their key interest rate for a second straight time, responding to a steady slowdown of the inflation pressures that exasperated many Americans and contributed to Donald Trump’s presidential election victory.

The economy grew at a solid annual rate of just below 3 percent over the past six months, while consumer spending—fueled by higher-income shoppers—rose strongly in the July-September quarter.

Trump’s plan to impose at least a 10 percent tariff on all imports, as well as significantly higher taxes on Chinese goods, and to carry out a mass deportation of undocumented immigrants would almost certainly boost inflation.

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Article Details

Author / Journalist: Christopher Rugaber | AP Economics Writer

Category: BusinessStartups

Markets: PhilippinesIsraelLebanonMexico

Topics: Inflation Economy Central Trump’s Rate Percent Rates Election Trump Interest Borrowing

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 12:37:54 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 815 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23461253

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 30 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 12 hours ago

Coverage Areas: Philippines

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Publication Timezone: GMT +8:00

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Publisher ID: #37

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