The Federal Reserve recently lowered the benchmark interest rate by a quarter point, anticipating further cuts due to concerns over a weakening job market and rising inflation. Fed officials revised their economic growth forecast upwards but maintained unemployment and inflation projections. Chair Jerome Powell acknowledged the dual challenge of managing job market risks and inflation pressures. The current economic environment, characterized by slower hiring and rising prices, complicates the Fed’s policy decisions. Political pressures from President Trump have also added complexity to the Fed’s operations.

Source: https://www.supplychaindive.com/news/fed-trims-main-rate-quarter-point-forecasts-two-more-cuts-year/760458/