US Federal Reserve slashes interest rates for first time in 2025 | ABC NEWS
The US Federal Reserve has cut interest rates for the first time in 2025, cutting the base rate by 0.25 per cent.
The Trump administration has been intensifying pressure on the central bank to lower interest rates to boost housing investment and reduce government borrowing costs.
The US president has been accused of political interference with the central bank’s independence as his nominee Stephen Miran was appointed to the board of governors.
Federal Reserve Chair Jerome Powell says the effects of tariffs are kicking in and unemployment remains at a low level.
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