Fed to cut jobs by 10% for staff

Business Sep 18, 2025

The Federal Reserve just announced it's reducing its workforce by 10%, bringing staff numbers back to what they were about 10 years ago.
Chairman Jerome Powell shared the news on Wednesday, saying the Fed is open to feedback and improvements, but he doesn't see a need for a big internal review right now.

Fed lowers interest rates by 0.25%

Alongside the job cuts, the Fed also lowered interest rates by 0.25%. This move is meant to make borrowing cheaper as concerns about job market weakness continue.
Most of President Trump's appointees supported the decision.