Jay Powell declared the central bank was “driving in the fog” as the Federal Reserve cut interest rates in the middle of a government shutdown that has deprived the institution of some economic data. The quarter-point cut, which brings the US benchmark rate down to 3.75 per cent, was broadly expected. It now sits at the lowest level since 2022.

Concerns in credit markets have percolated in recent weeks. Fed Chair Jay Powell isn't concerned that they may be indicative of broader problems.

On Wednesday, California Attorney General Rob Bonta joined a coalition 23 attorneys general in filing an amicus brief in the U.S. Supreme Court in Donald J. Trump v. Lisa D. Cook, a case concerning President Trump’s attempt to remove Federal Reserve Governor Lisa Cook from her position on the Federal Reserve Board.

Key Takeaways The Federal Reserve is expected to cut interest rates to a range of 3.75%–4%, but officials remain divided and cautious amid unclear economic data.Analysts anticipate the Fed will soon end its quantitative tightening program,

U.S. stocks are hanging around their records as Wall Street waits to hear from the Federal Reserve about interest rates.

The Trump administration has named five finalists for the next Federal Reserve chair, including two with ties to Kentucky.