Interest rate cut expected from Fed, U.S. markets surge after Trump election win

Federal Reserve Chair Jerome Powell is expected to announce an interest rate cut of 0.25 percentage points Thursday afternoon. That news comes as U.S. markets soar following the election of Donald Trump. CBS News correspondent Kelly O'Grady has more. CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries. Subscribe to the CBS News YouTube channel: https://youtube.com/cbsnews Watch CBS News 24/7: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow CBS News on Instagram: https://instagram.com/cbsnews/ Like CBS News on Facebook: https://facebook.com/cbsnews Follow CBS News on X: https://twitter.com/cbsnews Subscribe to our newsletters: https://cbsnews.com/newsletters/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-05-10aeh8h For video licensing inquiries, contact: licensing@veritone.com