​​Trump’s Election Won't Shift Fed's Near-Term Path, Says Fed Chair Jerome Powell

The Federal Reserve reduced its benchmark interest rate by 0.25% on Thursday, amid Fed Chair Jerome Powell’s remarks about assessing the economic impact of President-elect Donald Trump’s proposed policies. Powell indicated that the election outcome would not alter the Fed’s short-term policy but noted potential changes as Trump’s tax, trade, and immigration agendas take shape. He highlighted that inflation is nearing the Fed’s 2% target, with stable progress expected as the Fed continues recalibrating to a neutral stance.