"The Fed is more worried about the labor market and less concerned about inflation at this point," a Glenmede analyst said.

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfu

The U.S. central bank's decision to cut interest rates by half a percentage point leaves open the risk of a resurgence in inflation, a former Kansas City Federal Reserve president said on Thursday.