Fed makes final interest rate decision before Trump inauguration

The Federal Reserve cut interest rates Wednesday for the third consecutive month, slashing rates by a quarter percentage point. It was the Fed's final rate decision before the inauguration of President-elect Donald Trump, who has been a longtime critic of Federal Reserve Chairman Jerome Powell. CBS News MoneyWatch correspondent Kelly O'Grady joins to break down the move. CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries. Subscribe to the CBS News YouTube channel:    / cbsnews   Watch CBS News 24/7: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow CBS News on Instagram:   / cbsnews   Like CBS News on Facebook:   / cbsnews   Follow CBS News on X:   / cbsnews   Subscribe to our newsletters: https://cbsnews.com/newsletters/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-0... For video licensing inquiries, contact: [email protected]