Why is everyone obsessed with the Fed?

Making sense of the freak out over the rate cut everyone knew was coming

The Federal Reserve building.

On Wednesday, the Federal Reserve did what everyone expected it would do, and what President Trump was straight-up demanding it do: The central bank cut interest rates.

And everyone promptly freaked out.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.