Trump said at a White House event this afternoon that the U.S. military has seized an oil tanker off Venezuela. FED DECISION: The Federal Reserve reduced interest rates by a quarter-point in its third cut this year. President Donald Trump has repeatedly attacked Fed Chair Jerome Powell for not lowering them sooner.

The U.S. Federal Reserve may not give President Donald Trump all the rate cuts he wants, but the view of the economy policymakers included in new economic projections on Wednesday should buoy the administration nonetheless with its outlook for faster growth,

The S&P 500 index narrowly missed a fresh record close Wednesday and the Dow Jones Industrial Average finished with strong gains after the Federal Reserve’s decision to deliver a final quarter-point rate cut for 2025,

The Federal Reserve announced its third date cut in a year, to help stabilize the economy. Plus, foreign visitors to the U.S. may face new questions about their social media.

Fed Chair Jerome Powell spoke on the three dissenting votes as policymakers grapple with inflation along with gaps in economic data.

The Fed’s quantitative-tightening programme had returned more government debt to private markets, depleting bank reserves. The 2019 repo crisis, in which a scarcity of reserves sent repo rates above 10 per cent, ended the Fed’s previous quantitative-tightening initiative.

Jerome Powell refused to comment on President Donald Trump's search for his Federal Reserve replacement, saying the process doesn't affect his current chair role.

The Fed delivered a quarter-point rate cut as expected, but the central bank's new 2026 outlook highlights an uncertain path for future savings and CD yields.