Rates are now at 4.5% to 4.75%, after two reductions by the Federal Reserve starting in September

The US Federal Reserve lowered interest rates by a quarter point on Thursday, knocking them down for the second time in a row as inflation continues to ease and a Trump presidency hangs over the central bank.

Rates now stand at 4.5% to 4.75%, down from a decades-high level of 5.25% to 5.5%. The Fed lowered interest rates for the first time since 2020 in September, by a half point.