The Federal Reserve on Wednesday announced its third consecutive interest rate cut of 2024, reducing its benchmark rate by 0.25 percentage points amid cooling inflation. Yet in a blow for borrowers, the central bank also projected that it will loosen rates less next year than previously expected.
Jamie Dimon, head of America’s largest bank, JPMorgan Chase — and commonly referred to as the ‘president of Wall Street’ — spent much of this past year warning that there’s an elevated risk that the US experiences 1970s-esque stagflation, which is when economic growth stagnates while inflation heats up.
George Stephanopoulos ended Sunday’s “This Week” program without any mention of him or ABC News settling Donald Trump’s defamation lawsuit against them. The suit was triggered by a segment on “This Week,” but ABC News has not reported on TV at all its agreement to pay $15 million to Trump’s presidential foundation at all.