Federal Reserve Chair Jerome Powell is giving remarks Thursday afternoon, as the Biden administration prepares to cut interest rates for a second time. The decision comes after the administration announced late last month that price increases have fallen to their lowest level in more than three years.

Follow news from today's Fed meeting where the FOMC is expected to cut interest rates and chair Jerome Powell will speak.

The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.

The Federal Reserve cut interest rates by a quarter of a percentage point on Thursday in a move that preserves flexibility as officials contend with a cooling labor market and lower inflation. Tuesday’s election didn’t alter the Federal Open Market Committee’s policy path,

Jerome Powell has made it clear that if President Donald Trump attempts to fire him, he’ll sue. He’s said it once, he’s said it a hundred times: The Federal Reserve’s chair can’t be tossed out simply because the Oval doesn’t like interest rate policy.

Many economists are already scaling back their expectations for the number and pace of Federal Reserve rate cuts next year on account of policies expected from a new Trump administration.