The U.S. Federal Reserve cut interest rates by 0.25% to 4.5%-4.75% as inflation cools and labor market weakens. This follows a weak October jobs report, showing only 12,000 new jobs, and downward revisions for August and September. The easing cycle began in September with a 0.5% cut.
The U.S. Federal Reserve on Thursday slashed interest rates by 25 basis points amid cooling inflation and a weakening labor market, marking the second rate cut in this easing cycle.
Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has made progress toward the Committee's two percent objective but remains somewhat elevated, the Federal Open Market Committee (FOMC), the central bank's policy-setting body, said in a statement.
In support of its goals, the Committee decided to lower the target range for the federal funds rate by 0.25 percentage point to 4.5 percent to 4.75 percent, the statement said.
The Fed's latest decision came after a weak employment report, which showed that U.S. employers added only 12,000 jobs in October, amid a cooling labor market. This slowdown was exacerbated by a strike and the impact of recent hurricanes.
The latest report also revised down employment for August and September, to a gain of 78,000 and a gain of 223,000, respectively. With these revisions, employment in the two months combined is 112,000 lower than previously reported.
After its Sept. 17-18 meeting, the central bank slashed the target range for the federal funds rate by 50 basis points, which marked the first rate cut in over four years and signaled the start of an easing cycle.
Val Kilmer, the renowned actor from *Top Gun*, *Batman Forever*, and *The Doors*, has died at 65 from pneumonia. Known for his intense roles and dedication to his craft, Kilmer passed away in Los Angeles surrounded by family.
Elon Musk has reclaimed his position as the world's richest individual, surpassing Bernard Arnault on Forbes' 39th Annual Billionaires list, while President Donald Trump has seen his wealth more than double, highlighting significant shifts in the global financial landscape.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 2nd, covering the latest developments you need to know.
Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Russian President Vladimir Putin has received President of Republika Srpska Milorad Dodik at the Kremlin on Tuesday night. He arrived in Moscow after a court in Bosnia and Herzegovina issued an international arrest warrant for Dodik, the leader of the Serb half of the country.
Val Kilmer, the renowned actor from *Top Gun*, *Batman Forever*, and *The Doors*, has died at 65 from pneumonia. Known for his intense roles and dedication to his craft, Kilmer passed away in Los Angeles surrounded by family.
Elon Musk has reclaimed his position as the world's richest individual, surpassing Bernard Arnault on Forbes' 39th Annual Billionaires list, while President Donald Trump has seen his wealth more than double, highlighting significant shifts in the global financial landscape.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 2nd, covering the latest developments you need to know.
Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
President Donald Trump said a deal with TikTok's Chinese parent ByteDance to sell the short video app used by 170 million Americans would be struck before a deadline on Saturday.
Paul Marchant has resigned as CEO of Primark with immediate effect after admitting to an "error of judgment" in a social interaction last year. Parent company AB Foods expressed disappointment, citing the importance of integrity. Finance director Eoin Tonge will serve as interim CEO.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The International Monetary Fund (IMF) Executive Board has completed the Seventh Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about $0.4 billion, which will be allocated for budget support.
Elon Musk’s xAI has acquired his social media platform X in a $33 billion all-stock deal.
Russian President Vladimir Putin has received President of Republika Srpska Milorad Dodik at the Kremlin on Tuesday night. He arrived in Moscow after a court in Bosnia and Herzegovina issued an international arrest warrant for Dodik, the leader of the Serb half of the country.
Val Kilmer, the renowned actor from *Top Gun*, *Batman Forever*, and *The Doors*, has died at 65 from pneumonia. Known for his intense roles and dedication to his craft, Kilmer passed away in Los Angeles surrounded by family.
Elon Musk has reclaimed his position as the world's richest individual, surpassing Bernard Arnault on Forbes' 39th Annual Billionaires list, while President Donald Trump has seen his wealth more than double, highlighting significant shifts in the global financial landscape.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 2nd, covering the latest developments you need to know.
Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
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