Ukraine, OSCE discuss child deportations
Ukrainian Foreign Minister Andrii Sybiha met on Tuesday with a delegation from the Organisation for Security and Co-operation in Europe (OSCE) Parliam...
The Federal Reserve on Wednesday reduced its benchmark interest rate by a quarter point to a range of 4–4.25%, responding to slowing economic growth and persistently high inflation.
This marks the first rate cut by the central bank in 2025.
Chair Jerome H. Powell said the central bank remains focused on supporting maximum employment while bringing inflation back to its 2% target. He noted that economic conditions remain challenging, with inflationary pressures high and risks to employment rising.
Speaking at a press conference, Powell also revealed that the Fed is reducing its workforce by around 10%. He said that once the cuts are complete, staffing levels will return to roughly what they were a decade ago. While the central bank is open to constructive feedback on improving operations, Powell indicated there is no need for a formal review.
A majority of Fed officials now anticipate at least two further rate cuts this year, though some expressed caution over the timing and scale of additional reductions. Stephen Miran, the newest Fed governor and former economic adviser to President Donald Trump, dissented in the vote, advocating a larger cut.
The decision comes amid ongoing trade and tariff uncertainties, which continue to affect growth and consumer prices. Borrowers are unlikely to see immediate relief, but markets are closely watching for guidance on future monetary policy.
The meeting was marked by unusual circumstances, including legal disputes over Fed appointments and Miran’s Senate confirmation while on leave from The White House. Powell’s post-meeting remarks are expected to clarify the Fed’s outlook for the remainder of 2025.
The move reflects the Fed’s effort to balance economic growth with maintaining price stability in a complex financial environment.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
The newly elected mayor of Herdecke in northwestern Germany, Social Democrat Iris Stalzer, was seriously injured in a knife attack near her home by an unknown assailant or assailants.
Ukrainian Foreign Minister Andrii Sybiha met on Tuesday with a delegation from the Organisation for Security and Co-operation in Europe (OSCE) Parliamentary Assembly, marking the first visit to Ukraine by the group’s president, Pere Joan Pons.
The European Parliament has passed new legislation making it easier to suspend visa-free travel for nationals of third countries found to violate human rights or ignore international court rulings.
Two years after the Gaza conflict began, President Donald Trump on Tuesday pledged United States backing for Gaza’s security guarantees and said he believed an agreement to free the remaining hostages was nearing completion.
At least 15 people have been killed after a rain-triggered landslide sent huge boulders crashing onto a private bus in India’s northern state of Himachal Pradesh on Tuesday evening.
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