US Federal Reserve Chair Jerome Powell speaks at a news conference at the Federal Reserve headquarters, following the Federal Open Market Committee (FOMC) meeting in Washington, DC, on September 17, 2025. The US Federal Reserve on Wednesday lowered interest rates for the first time this year, flagging slower job gains and risks to employment as policymakers face heightened pressure under President Donald Trump. The Fed cut the benchmark lending rate by 25 basis points, to a range between 4.0 percent and 4.25 percent, while penciling in two more cuts this year. Only new Fed Governor Stephen Miran voted against this decision, preferring a larger rate reduction. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images) Photo: JIM WATSON / AFP / Getty Images