Fed's Rate Cut Divides Committee, Unemployment Rises

The Federal Reserve has cut interest rates for the third consecutive time, but hinted at a possible pause, which may not sit well with former President Trump. The rate-setting committee suggests no further cuts in the near future, with only one more expected next year. Dissent within the committee is at its highest in six years, with some members advocating for lower rates to boost hiring and others preferring to maintain current rates due to inflation concerns. Job growth has slowed, and unemployment has risen, presenting a challenge for the Fed as they navigate these differing views. The Fed will reassess at their next meeting in late January, depending on economic reports. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.