Watch live: White House holds briefing day after interest rate cut

White House press secretary Karine Jean-Pierre is slated Thursday morning to hold a press briefing.

The briefing comes one day after the Federal Reserve cut interest rates by 50 basis points. The new federal funds rate is 4.75 percent to 5 percent, a jumbo cut that signals the Fed’s confidence that its war against inflation is coming to an end.

Wednesday’s rate cuts are the central bank’s first rate reduction following a two-and-a-half-year crusade against inflation that raged in the wake of the pandemic.

The event is scheduled to begin at 2:15 p.m. ET.

Watch the live video above.

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