Fed Chair Powell Out? Rate Cut Amidst Trump Replacement Plans
📡 86 · 1 min read ·
Part of composite article The Real War Is Inside Us: How Societies Turn on Themselves View full article →
The U.S. Federal Reserve cut its main interest rate on Wednesday. The reduction of 0.25 percentage points aims to support the economy.
This decision comes as President Donald Trump prepares to choose a new leader for the central bank. Current Fed Chair Jerome Powell's term is set to expire soon.
The timing links major economic policy with a potential leadership change. The President has frequently criticized Powell's past decisions on rates.
CBS News White House reporter Olivia Rinaldi is following the story.