US Fed FOMC Meeting Live: The US Federal Reserve lowered interest rates on Wednesday for the first time this year, pointing at lower job growth and rising risks to employment amid political pressure from President Donald Trump.
Policymakers cut the benchmark lending rate by 25 basis points to a range of 4.00%–4.25% and signalled two additional cuts in 2025.
The Fed also raised its US GDP growth forecast to 1.6% from 1.4% in June, while leaving unemployment and inflation projections unchanged
What are the expectations?
At its previous meeting, the Fed kept rates unchanged in the 4.25%–4.50% range, marking the fifth consecutive decision to hold steady over the past nine months.
That cautious stance allowed policymakers to assess the effects of elevated tariffs and persistent inflationary pressures.
This time, however, conditions have shifted. A softening job market and signs of economic slowdown have strengthened forecasts for a rate reduction.
Trump vs Powell
Adding to the pressure is President Donald Trump, who has been openly urging the Fed to slash borrowing costs. Earlier this week, Trump predicted a “big cut,” telling reporters, “It’s perfect for cutting.”
Trump has repeatedly pressed Powell to lower rates and has even suggested he step down if unwilling to do so. Despite this political heat, the Fed has so far resisted rushing into rate cuts, choosing instead a measured, data-driven approach.
Live Updates
US Fed FOMC Meeting Live Updates: Check Live Coverage on US Fed Rate Cut, Interest Rate Cut Decision Today
US Fed FOMC Meeting Live Updates: What Fed Chair Powell said about job data revisions and rate cut decision
Federal Reserve Chair Jerome Powell addressed questions about recent revisions to US employment data, which suggested the job market at the start of the year was weaker than initially reported.
Powell explained that the revisions are mainly due to the way the data is collected and the low response rate from employers in Bureau of Labor Statistics surveys. Because of this, the most accurate data often becomes available several weeks later. He noted that higher response rates would make the data more reliable, and achieving that requires sufficient resources for the agencies collecting the information. Despite the revisions, Powell said the monthly employment data is still good enough for the Fed to make decisions.
When asked whether the Fed would have cut interest rates earlier if the job data had shown the weaker situation sooner, Powell said the central bank makes decisions based on current conditions, not past data. He emphasized that the Fed acts using the information available at the time, and said the recent rate cut reflected appropriate action based on the current situation.
US Fed FOMC Meeting Live Updates: Indian markets jump after US Fed cuts interest rates
The Indian stock markets opened higher on Thursday after the US Federal Reserve cut interest rates by 25 basis points. Both benchmark indices gained sharply at the start, lifted by positive global trends and confidence from the Fed’s softer policy stance. The Nifty 50 began the day at 25,441.05, up 110.80 points or 0.44 per cent, while the BSE Sensex opened at 83,108.92, rising 415.21 points or 0.50 per cent.
US Fed FOMC Meeting Live Updates: Hong Kong Cuts Interest Rate After US Federal Reserve Move
Hong Kong’s central bank reduced its base interest rate by 25 basis points to 4.50% on Thursday, following a similar cut by the US Federal Reserve. This was the first rate cut by the Hong Kong Monetary Authority since December, when it also lowered rates by 25 basis points. Because Hong Kong’s currency is tied to the US dollar within a set range of 7.75 to 7.85 per dollar, its monetary policy closely follows that of the United States.
US Fed FOMC Meeting Live Updates: Will India’s stock market open higher?
India’s stock markets are likely to open higher on Thursday after the US Federal Reserve cut interest rates by 0.25% to support its slowing job market. At 8:10 a.m. IST, Gift Nifty futures were trading at 25,520.5 points, suggesting that the Nifty 50 will open above Wednesday’s two-month high of 25,330.25. This was the Fed’s first rate cut of the year, aimed at tackling signs of weakness in the U.S. labour market.
US Fed FOMC Meeting Live Updates: Japan’s Nikkei hits intraday record high after Fed cuts interest rates
Japan’s Nikkei stock average hit a new intraday record high on Thursday, boosted by strong gains in technology shares. The rise came after the US Federal Reserve’s widely expected decision to cut interest rates by 0.25%. The Nikkei 225 went up 0.7% to 45,113.68, touching a peak of 45,144.62 and breaking the previous record set earlier this week. The broader Topix index also bounced back from an early fall and ended up 0.3% higher.
US Fed FOMC Meeting Live Updates: China keeps key interest rate unchanged
China’s central bank has kept a key interest rate steady on Thursday, showing no hurry to loosen monetary policy, even though the US Federal Reserve had cut its rates just hours earlier. Analysts said strong exports and a sharp rise in the stock market gave Chinese policymakers room to hold back from introducing new stimulus, despite signs of a wider economic slowdown. Hui Shan, chief China economist at Goldman Sachs, noted that while the economy was slowing as expected, the decline was not as steep as previously thought, reported Reuters.
US Fed FOMC Meeting Live Updates: Powell on Fed’s decision on the interest rate cut
Powell, in the press conference, said, “I thought a quarter point won’t make a huge difference to the economy. But you’ve got to look at the whole path of rates. Markets have already been baking in expectations.”
US Fed FOMC Meeting Live Updates: Powell denies to comment on Lisa Cook
Journalists pressed Powell on Fed Governor Lisa Cook, whom President Trump sought to remove before a federal appeals court blocked the effort. Powell declined to comment, saying it was a legal matter and ‘inappropriate’ for him to comment
US Fed FOMC Meeting Live Updates: Powell speaks on political pressure and independence of Fed
While answering a question, Powell said, “It’s deeply in our culture to do to do our work based on the incoming data and and never consider anything else. That’s just, everybody who’s at the Fed really feels strongly about that way. “
He further added, “So you know, you’ll know it by the way we talk about what we’re doing, by the speeches that people give, by the decisions that we make. You’ll know that we’re just still going to do that. That’s all we do, and we don’t. We don’t frame these questions at all, or see them in terms of political outcomes.”
US Fed FOMC Meeting Live Updates: Powell speaks on impact of immigration over job market
“The labour market has more to do with immigration than it has to do with tariffs. So I wouldn’t say that all of what’s happening in the labour market is due to tariffs. I mean, you can clearly have a slowing in due to immigration. You clearly have a slowing in demand, which is now perhaps more than that in supply,” Powell said.
US Fed FOMC Meeting Live Updates: Powell speaks about Stephen Miran
“So, we did welcome a new committee member today and, as we always do, the committee remains united in pursuing our dual mandate goals,” Powell said. “We’re strongly committed to maintaining our independence and beyond that, I really don’t have anything to share,” said Powell in the press conference
US Fed FOMC Meeting Live Updates: Powell speaks on labour market
Fed Chair Jerome Powell said the balance of risks has shifted toward the employment side of the central bank’s mandate. While inflation had previously been the dominant concern, recent data has indicated growing risks in the labour market.
Hiring has slowed sharply, with major downward revisions to summer job gains and just 22,000 positions added in August. Powell pointed to immigration as a key factor behind the weakness, noting that both labour supply and demand have declined significantly
US Fed FOMC Meeting Live Updates : ‘Economy remain uncertain,’ says Powell
“Changes to government policies continue to evolve, and their effects on the economy remain uncertain,” says Powell.
US Fed FOMC Meeting Live Updates: Powell speaks on wage growth
“Wage growth has continued to moderate while still outpacing inflation overall. The market is slowing in both the supply of and demand for workers, which is unusual in this less dynamic and somewhat softer labour market. The downside risks to employment appear to have risen in our Sep median projection for the unemployment rate is 4.5%,” said Powell.
US Fed FOMC Meeting Live Updates: Powell on inflation
Jerome Powell explained his stance on inflation,. He said, “Inflation has eased significantly from its highs in mid 2022 but remains somewhat elevated relative to our 2% longer run goal estimates.”
US Fed FOMC Meeting Live Updates: US growth slows to 1.5% in the first half
Federal Reserve Chair Jerome Powell said that economic activity has slowed, with GDP expanding at about 1.5% in the first half of the year, down from 2.5%
US Fed FOMC Meeting Live Updates: Jerome Powell’s speech starts
Fed chair Jerome Powell’s speech begins. Powell’s address can be watched on the official Federal Reserve website or via the Fed’s YouTube channel.
US Fed FOMC Meeting Live Updates: First interest rate cut of Trump’s second term
The Fed cut its benchmark lending rate by a quarter point to a new range of 4% to 4.25%. The move marks the first rate cut of President Donald Trump’s second term, ending a nine-month pause as the Fed assessed the impact of the administration’s sweeping policy shifts.
Officials said they had waited to gauge the effects of Trump’s tariffs and other measures, though the president repeatedly pressed the central bank to act sooner. In the end, it was signs of a weakening labour market rather than political pressure that drove the Fed to deliver the long-anticipated cut
US Fed FOMC Meeting Live Updates: Fed’s statement
Here is Fed’s full statement:
“Recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment have risen.
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.
In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 per cent objective.
In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook.
The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals.
The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.”
US Fed FOMC Meeting Live Updates: Dow surges 400 points after Fed rate cut, signals two more this year
One of the major Wall Street indices, the Dow Jones, surged 400 points after the Federal Reserve cut interest rates by 0.25 percentage points, the first reduction in nine months, and signalled that two more cuts are likely by the end of this year.
US Fed FOMC Meeting Live Updates: Miran dissents, calls for deeper 50 bps cut
Stephen Miran voted against the decision, favouring a larger cut of 0.50 percentage points to the federal funds rate at this meeting
US Fed FOMC Meeting Live Updates: Fed cuts rates by 25 bps to 4.00–4.25%
The Federal Reserve cut interest rates by a quarter percentage point on Wednesday, its first reduction of 2025. The Committee decided to lower the target range for the federal funds rate by 0.25 percentage points to 4.00–4.25%. In a split decision, the central bank lowered its benchmark rate to a range of 4.00% to 4.25%, the first easing move since last December
US Fed FOMC Meeting Live Updates: Where to watch Powell’s address ?
Federal Reserve Chairman Jerome Powell’s address can be watched on the official Federal Reserve website or via the Fed’s YouTube channel.
Jerome Powell’s press conference is scheduled to begin at 2:30 p.m. (EST). For those in India eager to hear his announcement, the broadcast will start at midnight (IST), following the release of the FOMC’s policy decision at 11:30 p.m. (IST).
US Fed FOMC Meeting Live Updates: ‘They should listen to smart people like me’ says Trump
The US President was asked if he thinks the Fed should be an independent body during an interaction with reporters.
“It should be. It should be. But, I think they should listen to smart people like me. I think I have a better instinct than him (Federal Reserve Chairman Jerome Powell). If you look, all the economists got it wrong. I got it right along with one other people out of a hundred,” the US President insisted on Tuesday .
US Fed FOMC Meeting Live Updates: US stocks stuck on pause
Wall Street is stuck on pause as it waits to hear from the Federal Reserve in the afternoon. The Feds are expected to deliver their first cut to interest rates of the year.
The S&P 500 edged down by 0.3% and was drifting near its record set on Monday. The Dow Jones Industrial Average was up 217 points, or 0.5%, as of 12:48 p.m. Eastern time, and the Nasdaq composite was 0.6% lower. Anticipation has been building for months about this afternoon’s announcement by the Fed.
US Fed FOMC Meeting Live Updates: Impact on Indian Markets
Pankaj Pathak, Fund Manager at UTI Asset Management Company Ltd explains the impact of Fed rates on Indian markets.
He states that US rate cuts can influence India’s monetary policy, as the RBI gains flexibility to maintain an easy policy stance.
Lower US rates often boost investor sentiment, enhancing risk appetite for emerging markets like India, which has historically seen rallies in its debt markets during such periods.
Additionally, US rate cuts typically weaken the US Dollar, making emerging market currencies, including the Indian Rupee, more attractive.
As India is part of emerging market bond indices, this could lead to increased foreign inflows into India’s domestic debt market.
US Fed FOMC Meeting Live Updates: FOMC holds eight meetings annually
The Federal Open Market Committee meets eight times each year to evaluate economic conditions, determine the appropriate monetary policy, and assess risks to its goals of price stability and sustainable economic growth. During these meetings, the committee sets the benchmark interest rates.
US Fed FOMC Meeting Live Updates: Bond traders bet big on half-point rate cut
Bond traders are reportedly stepping up options wagers that the Federal Reserve will deliver at least one half-point interest-rate cut by the end of 2025. Officials are projected to lower borrowing costs on Wednesday for the first time in 2025 — with a quarter-point reduction seen as the most likely decision. There will be three more policy meetings this year.
US Fed FOMC Meeting Live Updates: Euro zone bond yields edge lower
Euro zone government bond yields eased on Wednesday ahead of a widely expected U.S. Federal Reserve rate cut.
Germany’s 10-year bond yield, the benchmark for euro zone debt, was down 2 basis points at 2.67%.
U.S. 10-year Treasury yields were little changed, up 1 bp to 4.03%, while rate-sensitive 2-year yields were flat at 3.53%.
US Fed FOMC Meeting Live Updates: How to watch Powell’s speech?
Investors and individuals worldwide can watch Federal Reserve Chairman Jerome Powell’s address on the official Federal Reserve website or via the Fed’s YouTube channel.
Jerome Powell’s press conference is scheduled to begin at 2:30 p.m. (EST). For those in India eager to hear his announcement, the broadcast will start at midnight (IST), following the release of the FOMC’s policy decision at 11:30 p.m. (IST).