The Federal Reserve cut its key interest rate by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump's presidential election victory this week.

While Wall Street rejoiced in President Trump’s decisive win in Tuesday’s election and the Federal Reserve lowered its key interest rate by a quarter point, many members of the dairy industry gathered in Chicago for the American Dairy Products Institute Dairy Purchasing and Risk Management seminar.

The Federal Reserve cut interest rates on Thursday for the second time in three months, likely setting the stage for a drop in borrowing costs.