Jayden Daniels gets his 1st NFL win as Commanders beat Giants on 7 field goals by Austin Seibert

LANDOVER, Md. (AP) — Jayden Daniels got the wind knocked out of him, missed a snap and came back like nothing went wrong. He led the Washington Commanders down the field over and over without a touchdown to show for it and made sure they still put points on the board.

When it mattered most, Daniels got the job done and picked up his first win as an NFL quarterback, beating the New York Giants 21-18 on Sunday thanks to a franchise-record seven field goals from new kicker Austin Seibert.

“I feel blessed," Daniels said. “Can’t really complain. It wasn’t the prettiest game, but a win is a win.”

Daniels engineered the go-ahead, 65-yard drive in the final minutes to get the ball into the red zone, setting up Seibert's 30-yard field goal that won it as the clock expired. Seibert's 7-for-7 performance came days after he replaced Cade York, who missed each of his two attempts in the season opener.

“I guess that’s a great way to kind of welcome myself to the team and win a football game, so I’m happy with it,” said Seibert, who was good from 27, 45, 26, 27, 29 and 30 yards out. “No reason to make it bigger than it is. Just go out there and do what I do.”

The Commanders (1-1) came back to win an ugly game after the Giants lost kicker Graham Gano to an injury on the opening kickoff. Not having Gano forced New York (0-2) to go for it on several fourth-down situations after punter Jamie Gillan missed an extra point attempt early.

Gano, who said it was unrelated to the sore groin that landed him on the injury report, said his hamstring “doesn’t feel good.”

Daniels was 23 of 29 for 226 yards and rushed for 44 in his second professional start, beating former LSU teammate and fellow top-10 pick Malik Nabers in their first matchup in the league. Nabers was the Giants' best player with 10 catches for 127 yards and his first career TD reception.

“He did his thing, which I kind of expected just knowing him,” Daniels said after swapping jerseys with Nabers. “He got my first win jersey and I got his first 100-yard game. That’s going to mean a lot to both of us.”

Nabers was targeted 18 times by Daniel Jones, who after a rough Week 1 was a respectable 16 of 28 for 178 yards and two touchdown passes. Nabers dropped a fourth-down pass from Jones, which turned the ball over on downs.

“I’m disappointed,” Nabers said. “No matter how good of a game you can play, that last play came down to me. I’m hurt that I let those veterans down.”

The Commanders overcame going 0 for 6 in the red zone with seven trips inside the New York 25 and multiple false start penalties that derailed drives.

“You can’t have that,” left guard Nick Allegretti said. “But with such a new team, those things will happen. We’ve got to cut them down."

Commanders running back Brian Robinson Jr. carried the ball 17 times for a career-high 133 yards. He also made the two longest runs of his pro career: 32 yards in the first half and 40 in the second.

“Great start for me so I can gain the momentum that I need,” Robinson said. "I’m thankful for the opportunities. It’s been a while since I got 17 (carries) in one game, too, so I appreciate all that love from my coaches, and I expect to keep building off of that."

Washington’s Zach Ertz became the 12th tight end in NFL history to surpass 7,500 yards receiving. The 33-year-old veteran made four catches for 62 yards as one of Daniels’ most popular targets.

Nabers was cleared after being checked for a concussion late in the first quarter following a big hit from Washington’s Frankie Luvu. ... Cornerback Dru Phillips was also evaluated for a concussion and cleared late in the game.

Giants: Visit Cleveland next Sunday.

Commanders: Visit Cincinnati on Monday, Sept. 23.

AP NFL: https://apnews.com/hub/nfl

Washington Commanders place kicker Austin Seibert (3) kicks the game-winning field goal against the New York Giants as time expires during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

Washington Commanders place kicker Austin Seibert, top, celebrates with teammate after kicking the game-winning field goal against the New York Giants during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Steve Ruark)

Washington Commanders place kicker Austin Seibert, top right, celebrates with teammate after kicking the game-winning field goal against the New York Giants during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Steve Ruark)

New York Giants quarterback Daniel Jones (8) throws an incomplete pass past Washington Commanders linebacker Frankie Luvu (4) on a two point conversion attempt during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

New York Giants wide receiver Malik Nabers (1) reacts after missing a pass on fourth down against the Washington Commanders during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

New York Giants wide receiver Malik Nabers, front, catches a touchdown pass against the Washington Commanders during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Steve Ruark)

New York Giants wide receiver Malik Nabers, front celebrates his touchdown catch against the Washington Commanders during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

New York Giants wide receiver Malik Nabers, right, stretches for a first down as he is tackled by Washington Commanders cornerback Noah Igbinoghene, left, during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

New York Giants quarterback Daniel Jones (8) throws a pass against the Washington Commanders during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

New York Giants quarterback Daniel Jones (8) is tackled by Washington Commanders safety Jeremy Chinn (11) during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

Washington Commanders place kicker Austin Seibert (3) kicks a field goal against the New York Giants during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

Washington Commanders place kicker Austin Seibert (3) kicks a field goal against the New York Giants' Dru Phillips (22) during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Steve Ruark)

Washington Commanders place kicker Austin Seibert (3) celebrates his field goal against the New York Giants during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

Washington Commanders quarterback Jayden Daniels (5) throws a pass against the New York Giants during the second half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Steve Ruark)

Washington Commanders quarterback Jayden Daniels (5) runs as New York Giants safety Tyler Nubin and Bobby Okereke (58) pursue during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Steve Ruark)

Washington Commanders quarterback Jayden Daniels (5) looks to pass against the New York Giants during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

Washington Commanders quarterback Jayden Daniels (5) looks to pass against the New York Giants during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

Washington Commanders quarterback Jayden Daniels (5) runs past New York Giants safety Tyler Nubin (31) during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Steve Ruark)

Washington Commanders quarterback Jayden Daniels (5) is tackled by New York Giants safety Jason Pinnock (27) during the first half of an NFL football game in Landover, Md., Sunday, Sept. 15, 2024. (AP Photo/Matt Slocum)

WASHINGTON (AP) — The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for American consumers.

The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing. Coming just weeks before the presidential election, the Fed’s move also has the potential to scramble the economic landscape just as Americans prepare to vote.

The central bank’s action lowered its key rate to roughly 4.8%, down from a two-decade high of 5.3%, where it had stood for 14 months as it struggled to curb the worst inflation streak in four decades. Inflation has tumbled from a peak of 9.1% in mid-2022 to a three-year low of 2.5% in August, not far above the Fed’s 2% target.

The Fed’s policymakers also signaled that they expect to cut their key rate by an additional half-point in their final two meetings this year, in November and December. And they envision four more rate cuts in 2025 and two in 2026.

In a statement and in a news conference with Chair Jerome Powell, the Fed came closer than it has before to declaring victory over inflation.

“We know it is time to recalibrate our (interest rate) policy to something that’s more appropriate given the progress on inflation,” Powell said. "We’re not saying, ‘mission accomplished’ ... but I have to say, though, we’re encouraged by the progress that we have made.”

“The U.S. economy is in a good place," he added, "and our decision today is designed to keep it there.”

Though the central bank now believes inflation is largely defeated, many Americans remain upset with still-high prices for groceries, gas, rent and other necessities. Former President Donald Trump blames the Biden-Harris administration for sparking an inflationary surge. Vice President Kamala Harris, in turn, has charged that Trump’s promise to slap tariffs on all imports would raise prices for consumers even further.

Rate cuts by the Fed should, over time, lead to lower borrowing costs for mortgages, auto loans and credit cards, boosting Americans’ finances and supporting more spending and growth. Homeowners will be able to refinance mortgages at lower rates, saving on monthly payments, and even shift credit card debt to lower-cost personal loans or home equity lines. Businesses may also borrow and invest more. Average mortgage rates have already dropped to an 18-month low of 6.2%, according to Freddie Mac, spurring a jump in demand for refinancings.

“It’s a step in the right direction,” Laura Rosner-Warburton, senior economist of MarcoPolicy Perspectives, said of Wednesday's Fed move.

The additional rate cuts it indicated it will make, she said, will “prevent risks from building and the unemployment rate from rising. They are trying to keep the economy in good shape.”

In an updated set of projections, the policymakers collectively envision a faster drop in inflation than they did three months ago but also higher unemployment. They foresee their preferred inflation gauge falling to 2.3% by year’s end, from its current 2.5%, and to 2.1% by the end of 2025. And they now expect the unemployment rate to rise further this year, to 4.4%, from 4.2% now, and to remain there by the end of 2025. That’s above their previous forecasts of 4% for the end of this year and 4.2% for 2025.

Powell was pressed at his news conference about whether the Fed’s decision to cut its key rate by an unusually large half-point is an acknowledgement that it waited too long to begin reducing borrowing rates.

“We don’t think we’re behind,” he replied. “We think this is timely. But I think you can take this as a sign of our commitment not to get behind. We’re not seeing rising (unemployment) claims, not seeing rising layoffs, not hearing from companies that that’s something that’s going to happen.”

He added: “There is thinking that the time to support the labor market is when it’s strong and not when you begin to see the layoffs. We don’t think we need to see further loosening in labor market conditions to get inflation down to 2%.”

The Fed’s next policy meeting is Nov. 6-7 — immediately after the presidential election. By cutting rates this week, soon before the election, the Fed is risking attacks from Trump, who has argued that lowering rates now amounts to political interference. Yet Politico has reported that even some key Senate Republicans who were interviewed expressed support for a Fed rate cut this week.

Powell pushed back against any suggestion that the Fed shouldn't cut rates so close to an election.

“We’re not serving any politician, any political figure, any cause, any issue,” he said. "It’s just maximum employment and price stability on behalf of all Americans. And that’s how the other central banks are set up, too. It’s a good institutional arrangement, which has been good for the public, and I hope and strongly believe that it will continue.”

The Fed's move Wednesday reverses the inflation-fighting effort it engineered by raising its key rate 11 times in 2022 and 2023. Wage growth has since slowed, removing a potential source of inflationary pressure. And oil and gas prices are falling, a sign that inflation should continue to cool in the months ahead. Consumers are also pushing back against high prices, forcing such companies as Target and McDonald’s to dangle deals and discounts.

The Fed’s decision drew the first dissent from a member of its governing board since 2005. Michelle Bowman, a board member who has expressed concern in the past that inflation had not been fully defeated, said she would have preferred a quarter-point rate cut.

But the Fed's policymakers as a whole appear to recognize that after years of strong job growth, employers have slowed hiring, and the unemployment rate has risen nearly a full percentage point from its half-century low in April 2023 to a still-low 4.2%. Once unemployment rises that much, it tends to keep climbing.

At the same time, the officials and many economists have noted that the rise in unemployment this time largely reflects an influx of people seeking jobs — notably new immigrants and recent college graduates — rather than layoffs.

The Fed’s attention now is “preserving the health of the labor market and preventing unnecessary damage to the economy from a pretty restrictive (interest rate) stance,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics.

AP Business Writers Alex Veiga in Los Angeles, Paul Wiseman in Washington and Stan Choe in New York contributed to this report.

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Wednesday, Sept. 18, 2024. (AP Photo/Ben Curtis)

FILE - The seal of The Federal Reserve System is seen during a news conference by Federal Reserve Board Chairman Jerome Powell at the Federal Reserve Board Building on July 31, 2024, in Washington. (AP Photo/Jose Luis Magana, File)

FILE - Federal Reserve Chair Jerome Powell walks outside of the Jackson Hole Economic Symposium at Jackson Lake Lodge in Grand Teton National Park near Moran, Wyo., on Aug. 23, 2024. (AP Photo Amber Baesler, File)

FILE - The Federal Reserve is in Washington is shown on Nov. 16, 2020. (AP Photo/J. Scott Applewhite, File)

FILE - A detail of the Federal Reserve building in Washington is shown on Nov. 16, 2020. (AP Photo/J. Scott Applewhite, File)