The Federal Reserve cut its benchmark interest rate by a quarter percentage point on Wednesday, lowering the federal funds rate to a range between 4.00 percent and 4.25 percent in response to weakening labor market conditions and easing concerns over inflation, capping one of the most politically charged meetings in the central bank’s recent history.
In addition, a narrow majority of Fed officials indicated that they expect two more cuts this year, suggesting a quarter-point cut at each of the Fed’s two remaining meetings in October and December this year.
The cut on Wednesday followed months of pressure from President Trump for the central…
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