fed

Fed up with Los Angeles traffic, Elon Musk launched The Boring Co. with two tweets in 2016, promising “to build a tunnel boring machine and just start digging.”

But going forward Fed policymakers must contend with a big new unknown: a second Trump presidential term.

It marks the second drop in a row after the Fed lowered rates for the first time in more than four years in September, indicating confidence that price rises were finally stabilising.

Fed up, she felt she had to take the initiative.

Last month the US Fed cut interest rates by a bigger-than-usual 0.5 percentage points, saying it wanted to avoid any further weakening in the labour market.