The Fed lowered rates by 25 basis points to a 20-month low, but economists say tariffs may throw a wrench in the rate cutting cycle.

The Federal Reserve cuts interest rates for a second straight time in an effort to keep the economy humming. But it now must contend with a new unknown: a second Trump presidency.

The Federal Reserve cut its benchmark interest rate by a quarter of a percentage point Thursday, as expected, to the 4.50%-4.75% range. But Fed Chair Jerome Powell was noncommittal on future rate cuts that were expected before Donald Trump won the presidential election.