The Federal Reserve on Wednesday kicked off what is expected to be a series of interest rate cuts with an unusually large half-percentage-point reduction, a move aimed at boosting a cooling job market while continuing to push down on inflation.

Akshay Singal took little pleasure in getting the Federal Reserve’s rate-cut call right on Wednesday. Sure, the Fed opted for the half-point reduction that Singal, the global head of short-term interest rate trading at Citigroup Inc.

The market is more positioned for a 50bp cut than a 25bp cut. But a 25bp cut would be more measured, and in a way, it has the Fed taking back some control by not bowing to market pressure.

President Joe Biden is celebrating the Federal Reserve’s decision to lower interest rates by saying it shows that inflation has eased.

Investors have sent stocks and bonds higher on expectations of a soft landing. But some Republicans think the central bank overstepped its bounds.

The Federal Reserve’s decision to slash interest rates by half a percentage point will offer relief to American borrowers while giving Wall Street a boost. How much it will reshape the 2024 White House race is unclear, but it may pay a small dividend to Vice President Kamala Harris.

President Biden gives remarks at the event in DC after the Federal Reserve's historic move.

In his first public remarks since the Federal Reserve announced interest rate cuts, President Biden says there is "more work to do" to improve the economy.

President Biden touts economic progress following Federal Reserve interest rate cut U.S. President Joe Biden delivers remarks at the Economic Club of Washington, D.C. The Sun delivers breaking news, latest gossip and incredible exclusives around the world with hubs in London,

President Biden is set to give remarks at the Economic Club of Washington, D.C., on Thursday, during which he will give a “declaration of progress” a day after the Federal Reserve slashed interest rates.