The Federal Reserve is preparing to cut interest rates for the first time in the Biden era after the White House spent the last three years grappling with Americans’ dissatisfaction with the cost of living,

The Federal Reserve cut its key interest rate by 0.5 percent, or 50 basis points, on Tuesday, thrusting it into the center of a political firestorm. Donald Trump quickly weighed in to suggest that the panel could be “playing politics” with its decision,

The US Federal Reserve cut its key lending rate by half a percentage-point Wednesday in its first reduction since the Covid pandemic, sharply lowering borrowing costs just before November's presidenti