The Federal Reserve lowered its benchmark lending rate for a second consecutive time Thursday, but it hinted that it might pay closer attention to the recent tick higher in inflation pressures as it prepares new growth and inflation forecasts for the coming year.

The rate cut follows a larger half-point reduction in September, and it reflects the Fed’s renewed focus on supporting the job market as well as fighting inflation, which now barely exceeds the central bank’s 2% target.

The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had

The Fed’s announcement that it was easing its main interest rate caused few ripples in the market because even the size of it was so well anticipated by investors. The central bank began easing rates in September and indicated that more cuts were likely as it focuses more on keeping the job market humming after helping get inflation nearly down to its 2% target.

Here's what Wall Street has to say following the Fed's quarter-percentage-point rate cut: "The potential for future trade and fiscal policies to impact the growth and inflation path means that the U.S.