This could well be my most humdrum posting ever.  Today, I will try to simplify all you need to know about the Federal Reserve System.  Why? The Federal Reserve today cut the interest rate for the first time this year.   President Trump's political pressure and weakening labor market were reasons.   The U.S. lost jobs in June. So far this year, the economy has added 598,000 jobs, compared with 1.4 million for the first eight months of 2024. The unemployment rate also ticked higher last month to 4.3%, a level not seen since September 2017 outside of the Covid-19 pandemic. The cut was from 4.25% to 4%.  I did not know there were so many members on the Committee, but the vote was 11-1.  The dissenter was newly appointed governor ( members are called governors ) Stephen Miran.  He wanted a reduction of half a percent.  Trump has two others on the panel, and they went for the quarter point.   This lower rate should help businesses hire, ...