Fed Makes First Quarter-Point Rate Cut, Signals More to Come

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Oil prices declined in Wednesday’s intraday trading after the U.S. Federal Reserve cut its benchmark interest rate by 25 basis points, marking the first cut since December 2024, and signaled more cuts could be coming this year.   All but one Fed official voted for the cut, with Governor Stephen Miran the lone dissenter. Miran served as President Donald Trump’s Chair of the Council of Economic Advisers before his Tuesday swearing-in as Fed Governor. Brent crude for October delivery slipped 0.85% to trade at $67.92 per barrel…