Federal Reserve

The U.S. Federal Reserve cut interest rates by a quarter point Wednesday and signaled a slower pace of cuts ahead, as uncertainty grows over inflation and President-elect Donald Trump's economic plans.

Policymakers voted 11 to 1 to lower the central bank's key lending rate to between 4.25 percent and 4.50 percent, the Fed announced in a statement.

People line up outside of Macy's flagship store before opening on Black Friday, in New York City.

A December interest rate cut is still up for debate, a senior U.S. Federal Reserve official has said, suggesting that another rate reduction is not a foregone conclusion.

Donald Trump's return to the White House could put the independence of the U.S. Federal Reserve under strain, potentially weakening its ability to fight against inflation and unemployment free from political interference.

The Fed has a dual mandate from Congress to act independently to tackle both inflation and unemployment, primarily by raising and lowering interest rates.

The U.S. Federal Reserve shrugged off concerns about the economic impact of Donald Trump's election victory and moved ahead with a quarter-point cut on Thursday.

The Fed sits just a short walk from the White House, where Democratic President Joe Biden will hand back the keys to Trump in January following the Republican's election win.

For the first time in four years, the United States Federal Reserve has lowered the key interest rate, reducing it by half a percent to a range of 4.75 to 5 percent. This significant move aims to ease inflationary pressures and improve the labor market.

The U.S. Federal Reserve cut its key lending rate by half a percentage-point Wednesday in its first reduction for more than four years, sharply lowering borrowing costs shortly before November's presidential election.

Most economists expect Türkiye's Central Bank to keep its policy rate steady at 50 percent when members of the Monetary Policy Committee meet later this week on Sept. 19.

In August, the monetary authority held the one-week repo auction rate unchanged at 50 percent for a fifth straight month. The bank last raised rates in March by 500 basis points.

Market attention has turned to upcoming data on the U.S. economy after Nvidia reported its financial results .

Nvidia, one of several companies that have ridden a wave of enthusiasm over artificial intelligence developments, reported earnings on Aug. 28.

The results showed a strong profit, but Nvidia stock fell 2.1 percent, though it is up 153 percent for the year.

The U.S. Federal Reserve left its key lending rate unchanged on Wednesday and penciled in just one rate cut this year, down from the three expected in March after inflation stalled in the first quarter.

Markets fell in Asia and Europe on May 23 , tracking a sell-off on Wall Street sparked by a string of better-than-expected U.S. data that added to worries the Federal Reserve will hold off on cutting interest rates this year.