The Fed just announced a jumbo-sized interest rate cut
CNN
The Federal Reserve slashed interest rates aggressively Wednesday, announcing the first rate cut since March 2020.
The Federal Reserve slashed interest rates aggressively Wednesday, announcing the first rate cut since March 2020. The bold, but not unexpected, half-point move paves the way for lower borrowing costs on everything from mortgages to credit cards. It marks a crucial milestone for the central bank’s historic inflation fight, which kept rates at a bruising 23-year high for more than a year.
Nippon Steel is expected to re-file its application for a national security review by American regulators of its $15 billion takeover bid of US Steel, sources familiar with the matter told CNN on Tuesday, buying Japan’s largest steelmaker an additional 90 days to close its acquisition of an American rival after political opposition emerged in an election year.
So far, the attacks that targeted Iran-backed Lebanese militant group Hezbollah members through their pagers have had devastating consequences. At least nine people, including an eight-year-old girl, were killed, and at least 2,800 were wounded. Over 150 of those injured are in critical condition, according to the Lebanese health minister.