PANews reported on September 19 that according to Jinshi, the Federal Reserve cut interest rates by 50 basis points in the early hours of this morning, the first rate cut in more than four years. Former US President Trump said that the Fed's 50 basis point rate cut showed that "if they are not just playing politics, then the economic situation must be very bad to cut so much." "This is a big rate cut." Trump added. Earlier, US Vice President Harris said that the Fed's decision was good news for Americans.