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.
Russian strikes on Ukraine overnight killed at least two people and injured 15 others, including two children, Ukrainian authorities said.&nbs...
Saudi Aramco has ordered staff to evacuate its headquarters amid escalating Houthi attacks on the kingdom. Two people were killed in an attack on D...
Nigeria's first Ebola case in more than a decade may be linked to travel in Uganda, Swiss authorities said on Thursday, although the source of ...
Russia is willing in principle to resume peace talks with Ukraine and the United States in November, Kremlin aide Yuri Ushakov said after President Vladimir Putin met U.S. special envoy Steve Witkoff in St Petersburg.
Saudi Aramco has ordered staff to evacuate its headquarters amid escalating Houthi attacks on the kingdom. Two people were killed in an attack on Dammam airport, while Iran's IRGC Navy claimed strikes on seven vessels and warned the U.S. of a wider response.
Yemen's Houthis have denied targeting the holy city of Medina on Wednesday adding that they have not conducted any military operations towards Saudi Arabia either, denying earlier comments from the Saudi-led coalition in Yemen.
Russian strikes on Ukraine overnight killed at least two people and injured 15 others, including two children, Ukrainian authorities said. Meanwhile, Russia said it had intercepted the vast majority of 630 Ukrainian drones launched towards Moscow.
Georgia’s Constitutional Court in Batumi will on Wednesday hear a lawsuit seeking to ban five Georgian opposition parties, four of which collectively gained 784,820 votes (37.79 per cent) in the country’s last national elections in 2024.
Azerbaijan's economy is forecast to grow by 1.7 per cent in 2026 and 2.3 per cent in 2027, according to the International Monetary Fund (IMF), while growth across the wider Caucasus and Central Asia region is expected to slow.
As fuel prices surge nearly 37 per cent and protests over living costs turn violent, French President Emmanuel Macron is seeking fresh energy supplies and partnerships in the Gulf. But can diplomacy abroad ease mounting pressure at home?
Azerbaijan and Georgia are targeting more than $2 billion in bilateral trade as the neighbouring countries strengthen energy partnerships, expand transport links and pursue new investment opportunities.
More than 200 U.S. business leaders have joined Secretary of State Marco Rubio in Uzbekistan as Washington steps up efforts to turn closer diplomatic ties with Central Asia into trade and investment deals.
Thirty-five years after restoring independence, Azerbaijan's economy has more than tripled in real terms. Official data reveal how investment, manufacturing, private enterprise and digital development have reshaped the country's economic landscape.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment