The U.S. Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.
Fed Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington on Nov. 7, 2024. The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.
Speaking at a news conference, though, Fed Chair Jerome Powell said that "in the near term, the election will have no effects on our decisions.” The economy, too, is clouding the picture by flashing conflicting signals, with growth solid but hiring weakening. Consumer spending, though, has been healthy, fuelling concerns that there is no need for the Fed to reduce borrowing costs and that doing so might overstimulate the economy and even re-accelerate inflation.
The economy grew at a solid annual rate just below three per cent over the past six months, while consumer spending — fuelled by higher-income shoppers — rose strongly in the July-September quarter. A social media influencer from Texas was disqualified from last weekend's New York City Marathon and banned from future competitions after he ran the race with a camera crew on e-bikes in tow.
Toronto police say 59 suspects are facing a total of 300 charges in connection with an auto theft and re-vinning probe.B.C. man discovers 115 stuffed animals hidden behind wall, begins donating them to people around worldA group of women in Chester, N.S., has been busy on the weekends making quilts – not for themselves, but for those in need.
Canadian country music star Gord Bamford is asking Calgarians to keep an eye out for several items that were stolen from his truck this week, including one of his guitars.Alberta’s finance minister has sacked the board of directors of AIMCo, the body that manages more than $160 billion in pension, endowment and government funds for the province.Drugs and weapons seized, multiple arrests after police operation at Guertin arena in Gatineau, Que.
Dozens of popular brands of bread have been recalled in Canada after pieces of metal were discovered in some of the products.With shelters at capacity and a need to keep people warm as winter nears, Greater Sudbury is funding two overnight warming centres this fall and winter.Ontario's Special Investigation Unit has cleared police actions in a shootout with a murder suspect last June that left one police officer with bullet wounds to his neck.
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Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertaintyThe Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.
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U.S. Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertaintyThe U.S. Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.
Read more »
Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertaintyWASHINGTON (AP) — The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this wee
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U.S. Federal Reserve set to cut interest rates again as post-election uncertainty growsU.S. Federal Reserve officials are poised Thursday to reduce their key interest rate for a second straight time, responding to a steady slowdown of the inflation pressures that exasperated many Americans and contributed to Donald Trump’s presidential election victory.
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