Fed Cuts 25 bps to 4.50–4.75%

Two days after Donald Trump won the US presidential election, the Federal Reserve cut rates by another 25 basis points, bringing the target range to 4.50–4.75%. Markets had already repriced higher on election results — the 10Y yield surged to ~4.4% on Trump tariff expectations. The Fed signaled a gradual, data-dependent easing pace going forward.