The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market.

The Federal Reserve makes its first cut to interest rates since 2024, and signals more to come.

The Federal Reserve on Wednesday announced a 0.25% rate cut in the wake of U.S. President Donald Trump's demands to do so amid ongoing tariff worries.