Rattner breaks down federal rate cut: 'This is the Fed doing its job, not playing politics'

The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. Morning Joe economic analyst Steve Rattner breaks down the impact of the cut and why he’s “not sure Trump understands how the Fed makes rate decisions.” “Rate decisions are made by a committee of 12 people from all over the country, appointed by various presidents, by various local Federal Reserve Banks. It is not Jay Powell's decision... This is the Fed doing its job, not the Fed playing politics." » Subscribe to MSNBC: https://www.youtube.com/msnbc Download our new MSNBC app for the latest breaking news and daily headlines at a glance: https://www.msnbc.com/information/download-msnbc-app-n1241692 Follow MSNBC Show Blogs MaddowBlog: https://www.msnbc.com/maddowblog ReidOut Blog: https://www.msnbc.com/reidoutblog MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rachel Maddow Show, Morning Joe, The Beat with Ari Melber, Deadline: White House, The ReidOut, All In, Last Word, 11th Hour, and Alex Wagner who brings her breadth of reporting experience to MSNBC primetime. Watch “Alex Wagner Tonight” Tuesday through Friday at 9pm Eastern. Connect with MSNBC Online Visit msnbc.com: https://www.msnbc.com/ Subscribe to the MSNBC Daily Newsletter: https://link.msnbc.com/join/5ck/msnbc-daily-signup Find MSNBC on Facebook: https://www.facebook.com/msnbc/ Follow MSNBC on Twitter: https://twitter.com/MSNBC Follow MSNBC on Instagram: https://www.instagram.com/msnbc