The US Federal Reserve kept interest rates unchanged on Wednesday, signaling confidence in the economy’s underlying momentum while resisting growing political pressure to ease policy.
Federal Reserve Chair Jerome Powell on Sunday delivered an unusually direct rebuke of the administration of President Donald Trump, accusing it of trying to intimidate the independent central bank in an effort to force him from office.
The Federal Reserve cut interest rates by a quarter percentage point on Wednesday after noting cooler labor-market momentum and persistent uncertainty surrounding the economic outlook.
The Federal Reserve lowered its benchmark interest rate Wednesday for the second time this year, aiming to support economic growth and hiring even as inflation remains elevated. But Fed Chairman Jerome Powell cautioned that another cut at the central bank meeting in December is far from certain.
Treasury bill rates continued to ease this week as investors bet on the growing likelihood of monetary policy easing, following softer-than-expected inflation data in the US.
The impressive run of Alex Eala at the Prudential Hong Kong Open ended with a painful thud on Sunday, as a troublesome right leg proved a bigger opponent than she could handle in the championship match.
Filipino households and businesses can look forward to significant relief at the pumps this week, with a major downward adjustment in fuel costs forecast following five consecutive weeks of mixed price trends.
Chemical maker D and L Industries Inc. is more hopeful about next year following the US midterm elections, which have raised hopes for an end to the Iran conflict, lower oil prices and a stronger peso. President Alvin Lao cited these as clear positives, though he warned that damaged supply chains, a severe El Niño and domestic political tensions remain key concerns.
AyalaLand Logistics Holdings Corp. (ALLHC) sharply improved its earnings in the third quarter, with net income of P62 million helping narrow its nine-month profit decline to 9 percent as industrial lot sales gained traction and cold storage operations expanded.