Big U.S. Banks Trim Prime Lending Rates After Fed Cut

In response to the Fed’s rate drop, major banks like JPMorgan, Citi, Wells Fargo, and Bank of America lowered their prime lending rate from 7.50% to 7.25%. The move should ease borrowing for businesses and consumers, but inflation remains above target, and uncertainties around trade and tariffs still weigh on lender sentiment.}