The Federal Reserve cut its key interest rate by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.

Bond investors have sent Treasury yields significantly higher in recent weeks even as the Federal Reserve has cut interest rates.

The Fed cut interest rates by a quarter of a percentage point. The Federal Reserve cut interest rates by a quarter of a percentage point on Thursday, setting the latest path for borrowing costs just two days after the victory of President-Elect Donald Trump.