The Fed lowered rates by 25 basis points to a 20-month low, but economists say tariffs may throw a wrench in the rate cutting cycle.

He also reaffirmed his intention to stay at the Fed until his four-year term as chair expires in May 2026.Asked if he thought a president could remove him or other senior personnel from their positions before their terms end,

The Federal Reserve is expected to announce Thursday it is cutting interest rates, a decision that comes just two days after a divisive and historic US presidential election.