KEY TAKEAWAYS:

Fed cuts key interest rate to 4.1%

Two more rate cuts projected this year, one in 2026

Powell cites labor market weakness as key concern

Trump pressure and Cook firing attempt raise Fed independence issues

The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market.

The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell , had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy.

Yet the central

See Full Page