“Federal Reserve Cuts Key Interest Rate Following Trump’s Election Win: US News LIVE Today November 8, 2024”

In a surprising move following President Trump’s reelection victory, the Federal Reserve announced today that it would be cutting its key interest rate by a quarter-point. This decision comes amidst a backdrop of uncertainty and speculation surrounding the future of the economy under a second Trump term.

The cut, which brings the rate down to 1.75%, is seen as a proactive measure by the Fed to stimulate economic growth and provide stability in the wake of the election results. Many analysts had predicted that the central bank would hold off on making any changes to the rate until after the election, but today’s announcement seems to indicate a sense of urgency in responding to the potential impact of Trump’s victory on the economy.

President Trump has been a vocal critic of the Federal Reserve in the past, often accusing the institution of hindering economic growth through its policies. It remains to be seen how he will react to this latest decision, but for now, the focus is on how the rate cut will affect businesses and consumers in the coming months.

Stay tuned for more updates on this developing story.