Fed To Cut Interest Rates To Address Inflation, Amid Uncertainty After Trump’s Election

This story was originally published by the Guardian and is reproduced here as part of the Climate Desk collaboration. Donald Trump’s new term as US president poses a grave threat to the planet if it blows up the international effort to curb dangerous global heating, stunned climate experts have warned in the wake of his decisive election victory. Trump’s return to the White House is widely expected to result in the US, yet again, exiting the Paris climate agreement and may even remove American involvement in the underpinning United Nations framework to deal with the climate crisis. While campaigning for president, Trump has called climate change “a big hoax,” scorned wind energy and electric cars, and vowed to gut environmental rules and the “green new scam” of the Inflation Reduction Act, a major bill passed by Democrats to support clean energy projects. Trump’s agenda, analysts have found, risks adding several billion metric tons of extra heat-trapping gases to the atmosphere, further imperiling goals to stave off disastrous global heating that governments are already failing to meet.

WASHINGTON — Federal Reserve officials are poised Thursday to reduce their key interest rate for a second straight time, responding to a steady slowdown of the inflation pressures that exasperated many Americans and contributed to Donald Trump’s presidential election victory. Yet the Fed’s future moves are now more uncertain in the aftermath of the election, given that Trump’s economic proposals have been widely flagged as potentially inflationary.

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