The US Federal Reserve is widely expected to announce a quarter point cut to its key lending rate on Wednesday despite a recent uptick in inflation, in the central bank's last meeting of Joe Biden's presidency.

November's inflation report showed a moderate 2.7% annual increase, which may give the Federal Reserve reason to continue cutting interest rates.

President Joe Biden is only a few weeks away from the end of his time in office, and one key part of his legacy is undeniable: inflation. Biden has battled inflation from the start, but critics say he helped fuel it with trillions of dollars in deficit spending during his four years in office.

The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate.

At the Federal Reserve’s final interest rate-setting meeting of 2024, Chair Jerome Powell revealed that the central bank is starting to factor Trump policies into its monetary policy decisions. Powell didn’t mention Trump by name. But investors clearly understood this elliptical construct as a reference to the incoming president:

There's a good reason Biden eventually stopped saying Bidenomics. Americans didn't like the results of his economic policies.

The US Federal Reserve is widely expected to announce a quarter point cut to its key lending rate on Wednesday despite a recent uptick in inflation, in the central bank's last meeting of Joe Biden's presidency.

The moderate growth will likely encourage the Federal Reserve to continue cutting high interest rates at its meeting next week. The news comes as President Joe Biden touts lower inflation ...

President Joe Biden signed an executive order designating Christmas Eve as a federal holiday for most employees.

Amid the potential of a government shutdown fueled by budget uncertainties on Capitol Hill, the president issued an executive order on Thursday giving federal employees Dec. 24 off.