NEW YORK -- The U.S. Federal Reserve cut interest rates by a quarter of a percentage point two days after Donald Trump's election victory, an outcome that renewed inflation concerns due to his tariff-heavy economic plan.
The cuts on Thursday brought the benchmark overnight interest rate to the 4.50%-4.75% range. It was the second consecutive cut following a September meeting that saw the first rate cut in four years.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)