Fed Cuts Rates, Powell Signals Pause

The Federal Reserve, which controls interest rates, decided to lower them a little bit on Wednesday.

This is the third time they've done this in a row.

The head of the Fed, Jerome Powell, said they might not change the rates for a while now.

He also said the economy is growing at a moderate pace, but the job market is a bit weaker and inflation is higher than earlier in the year.

President Trump, however, was not happy with the size of the cut.

He thinks it should have been bigger.

The Fed also said they might only cut rates once next year and the year after, depending on how the economy does.

Some people in the Fed disagreed with the cut, with one wanting a bigger cut and two wanting no cut at all.

The Fed will watch the job market and inflation to decide what to do next.