And then we got data this morning showing, actually, the manufacturing sector is already improving on its own, unemployment data is the best since before the summer, and the Fed cut 50 basis points, you're getting a kind of Nirvana, right?” he told Fortune.

Trump attributed the rate reduction to either a "very bad" economy or to the Fed's "playing politics" to help Democrats.

Federal Reserve Chair Jerome Powell is known for providing clear signals about the central bank’s next interest rate move in order to avoid roiling markets. But Wall Street was mostly clueless this week when it came to predicting how big a rate cut the Fed would deliver on Wednesday.

Bank Indonesia, which surprised markets this week by cutting interest rates ahead of the Federal Reserve, is expected to keep lowering borrowing costs this year, but at a slower pace than in the US.

Top strategist David Kelly warns of the hidden dangers of a jumbo-sized rate cut after the Fed's recent decision.

The Federal Reserve announced Wednesday that it was cutting interest rates for the first time in four years. How far will mortgage rates fall from here on out? Not so much, economists say. The central bank announced a 50-basis-point cut to its benchmark rate,