WASHINGTON — The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the U.S. labor market.
It's the Fed's first cut since December, lowering its shortterm rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, previously kept the rate unchanged as they evaluated effects of tariffs, immigration enforcement and other Trump administration policies.
Stephen Miran, President Donald Trump's appointee confirmed Monday in the Senate the same day an appeals court refused to go along with Trump's attempts to fire Fed board member Lisa Cook, was the only Fed official who dissented with the decision, preferring a larger cut.
GAZA: Israel launched its Gaza City offensive Tuesday, as experts commissioned by the U.N. Human Rights Council concluded Israel is committing genocide in Gaza.
VACCINES: Health Secretary Robert F. Kennedy Jr.'s new vaccine advisers added confusion Friday to this fall's COVID-19 vaccinations — declining to recommend them for anyone. Instead, they decided people could make individual decisions after talking with a doctor, nurse or pharmacist.
BOAT STRIKES: President Donald Trump said Friday the U.S. military carried out its third fatal strike against an alleged drug smuggling vessel this month. On social media, he said the strike killed three on a vessel affiliated with a terrorist organization.
How Did the Fed’s Rate Cut Trigger Tether’s $5 Billion USDT Surge?
Federal Reserve finally lowers interest rates, but is it enough?
Advisor News
- Business owners may be overlooking a key part of their financial picture
- How smart investments prepare clients for inflation
- Amid slew of corporate tax ideas, Newsom chose one likely to hit people’s premiums
- The biggest risk to your clients’ financial plans isn’t market volatility
- Initiative looks at how caregiving impacts workplace benefits
More Advisor NewsAnnuity News
- Best’s Special Report: U.S. Life/Annuity Industry Sees Bottom-Line Growth Despite 18% Decline in Total Income in First-Quarter 2026
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- Fortitude Re Completes $500 Million FABN Issuance
- Reframing retirement income for greater certainty
- Jackson Introduces Dow Jones Industrial Average Index Option, Flexible Premiums, Six-Year Rate Guarantee in Latest Registered Index-Linked Annuity Launch
More Annuity NewsHealth/Employee Benefits News
- A Swansea woman's health insurance saga: Breast cancer leads to bankruptcy
- SEN. OSSOFF WORKING ACROSS THE AISLE TO LOWER HEALTH CARE COSTS FOR MILITARY FAMILIES
- Inovaare Expands AI-Native BPaaS for U.S. Health Plans, Defining the Third Generation of Payer Operations
- AuguStar Life enhances its suite of living benefits
- Final rules for Medicaid work requirements are out. Here's what you need to know.
More Health/Employee Benefits NewsLife Insurance News
- Greg Lindberg slams ‘vindictiveness’ in fight for prison computer access
- Best’s Special Report: U.S. Life/Annuity Industry Sees Bottom-Line Growth Despite 18% Decline in Total Income in First-Quarter 2026
- AuguStar Life enhances its suite of living benefits
- Lobbyist argues Iowa insurance regulator gives too much voice to Wall Street
- Appeals court rejects investor payouts in latest decision against STOLI
More Life Insurance News