The Latest Breaking News from Jerome Powell

Federal Reserve cuts its key rate by a quarter-point but envisions fewer reductions next year

The Dow Jones Industrial Average broke a half-century record for futility on Wednesday, suffering losses for the 10th consecutive session on the heels of the Federal Reserve's 0.25% interest rate cut.

"The economy is strong overall," Chairman Jerome Powell said.

ECB cuts rates to boost eurozone growth, while Fed remains cautious amid strong US economy.

In the last couple of months, the Fed's favored inflation has ticked higher, moving away from the bank's long-term target of two percent, and raising concern that the battle against inflation is not over.

The Federal Reserve is adjusting interest rates cautiously due to economic growth and inflation concerns.

The US Federal Reserve is widely expected to cut interest rates by a quarter point on Wednesday and signal a slower pace of cuts ahead.

Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards

The Federal Reserve is expected to cut its key interest rate by 25 basis points on Wednesday.