The move comes after Donald Trump’s election win and the ensuing global uncertainty. The Fed said that the job market has “generally eased,”

US Federal Reserve cuts key interest rates by quarter-point

The move comes after Donald Trump’s election win and the ensuing global uncertainty. The Fed said that the job market has “generally eased,” with inflation nearing the 2% target.

The Fed cited improvements in the labor market and inflation figures

The US Federal Reserve cut on Thursday its key interest rates by a quarter of a percentage point, one day after Donald Trump returned to the US presidency.

Policymakers voted unanimously to lower the US central bank’s key lending rate to between 4.50% and 4.75%, the Fed announced in a statement

The Fed said its decision came in response to the decline in the once-high inflation, which is now inching closer to the central bank’s 2% target. It also cited the improvement in the job market.

This is the second rate cut in a row, and it reflects the Fed’s renewed focus on supporting the job market and fighting inflation.