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Facing Trump's pressure, the Federal Reserve cuts rates for the first time this year

By Scott Horsley,
Steve Inskeep
Published September 18, 2025 at 5:06 AM EDT

The Federal Reserve lowered its benchmark interest rate for the first time this year, but President Trump is demanding bigger rate cuts.

Copyright 2025 NPR
Scott Horsley
Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.
See stories by Scott Horsley
Steve Inskeep
Steve Inskeep is a host of NPR's Morning Edition, as well as NPR's morning news podcast Up First.
See stories by Steve Inskeep
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