Federal Reserve poised for first rate cut of the year, possibly a quarter-point reduction

The Federal Reserve on Wednesday might make its first rate cut of the year, which most economists believe will be a quarter of a percentage point.

Steve Moore, who is President Doanld Trump’s former White House economic advisor, said he agrees it will be a quarter-point reduction.

“It’s the day Donald Trump has been waiting for – and a lot of investors, as well,” Moore told The National News Desk’s Jan Jeffcoat during a one-on-one interview Wednesday morning.

The cut, he said, will provide a small stimulus for the U.S. economy.

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