TAMPA, Fla. (WFLA) — The Federal Reserve announced it has cut interest rates for the first time in months.

The Federal Open Market Committee said that as job gains slow and inflation still rises, it is working to achieve "maximum employment" and an inflation rate of 2% in the long run.

Fed officials initially held back on lowering interest rates while they examined the effects of Trump's tariffs and other economic policies.

Despite pressure from the president, it was the faltering job market that led to the FOMC's decision.

"In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 4‑1/4 percent (4.25%)," a release stated. "In considering additional adjustments to

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