The Federal Reserve cut interest rates by 25 basis points – or 0.25% – on Thursday after President Trump’s landslide victory.
The latest rate cut comes after the Fed slashed rates 50 basis points in September.
The benchmark rate is between 4.5% to 4.75%
Fed Chairman Jerome Powell told reporters on Thursday that he will not resign his position if Trump asks him to step down.
“If [Trump] asked you to leave, would you go?” a reporter asked Fed Chair Powell. […]
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