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.
Iran has slammed an Austrian intelligence report accusing it of pursuing a military nuclear program, calling the claims baseless and demanding an official explanation from Vienna.
U.S. President Donald Trump accused China of violating a key trade agreement on tariffs and minerals, warning of potential new actions amid rising tensions.
Kazakhstan plans to double container traffic on the Trans-Caspian route in three years, aiming to boost regional and transcontinental connectivity.
Pakistan's Prime Minister has warned that melting glaciers may intensify flooding, urging rich nations to fulfill climate finance pledges.
The U.S. State Department stated that it aims to prevent the misuse of American universities and protect U.S. research from exploitation by the Chinese government.
Iran has slammed an Austrian intelligence report accusing it of pursuing a military nuclear program, calling the claims baseless and demanding an official explanation from Vienna.
U.S. President Donald Trump accused China of violating a key trade agreement on tariffs and minerals, warning of potential new actions amid rising tensions.
Kazakhstan plans to double container traffic on the Trans-Caspian route in three years, aiming to boost regional and transcontinental connectivity.
Pakistan's Prime Minister has warned that melting glaciers may intensify flooding, urging rich nations to fulfill climate finance pledges.
The U.S. State Department stated that it aims to prevent the misuse of American universities and protect U.S. research from exploitation by the Chinese government.
AnewZ takes to the streets of Yerevan and Baku to ask a simple yet deeply complex question: How do you see peace between Armenia and Azerbaijan? In the first part of our special report, we hear the hopes, doubts, and scars still shaping people’s perspectives on both sides.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Kyiv faced a large-scale Russian drone and missile assault overnight, with explosions and gunfire echoing throughout the city, forcing residents to shelter in subway stations.
Volkswagen is negotiating directly with the U.S. government to ease tariffs in exchange for deeper investment commitments.
Wall Street futures slipped as a surprise court ruling brought back most of Trump-era tariffs, shaking investor confidence heading into month-end.
Model Hailey Bieber is selling her skincare brand Rhode to e.l.f. Beauty in a deal worth up to $1 billion (£790 million), with plans for international expansion and continued viral success.
The European Bank for Reconstruction and Development (EBRD) is providing a €25 million loan to Ofis Yem, a leading livestock feed producer in Türkiye, to support the company’s transition toward a green economy and the implementation of inclusive business practices.
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has invested $50 million in ADNOC Gas Pipeline Assets LLC (AGPA), a subsidiary of the Abu Dhabi National Oil Company (ADNOC), which manages the gas pipeline network in the United Arab Emirates.
Iran has slammed an Austrian intelligence report accusing it of pursuing a military nuclear program, calling the claims baseless and demanding an official explanation from Vienna.
U.S. President Donald Trump accused China of violating a key trade agreement on tariffs and minerals, warning of potential new actions amid rising tensions.
Kazakhstan plans to double container traffic on the Trans-Caspian route in three years, aiming to boost regional and transcontinental connectivity.
Pakistan's Prime Minister has warned that melting glaciers may intensify flooding, urging rich nations to fulfill climate finance pledges.
The U.S. State Department stated that it aims to prevent the misuse of American universities and protect U.S. research from exploitation by the Chinese government.
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