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                                                          US Federal Reserve Chair Jerome Powell The Federal Reserve is widely expected to cut interest rates at its upcoming meeting, marking a shift in monetary policy aimed at supporting economic growth amid cooling inflation and slowing demand. While markets have anticipated a series of reductions, policymakers appear cautious, with signals suggesting only one additional cut may be on the horizon for next year. This measured approach reflects the Fed’s balancing act: easing financial conditions to sustain momentum while avoiding overstimulation that could reignite price pressures. Investors are closely watching the central bank’s language for clues on the trajectory of borrowing costs, as households and businesses continue to navigate a delicate economic environment....
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Ireland, Spain, and Norway Recognize Palestinian State: A Historic Move

                             

In a significant and historic development, Ireland, Spain, and Norway have officially recognized the state of Palestine. The move has drawn both praise and criticism from various quarters.

Recognition and Reactions

  • Ireland: Irish Prime Minister Simon Harris described the recognition as “an historic and important day for Ireland and for Palestine.” The decision was coordinated with Spain and Norway, with the aim of advancing the Israeli-Palestinian conflict toward a peaceful resolution through a two-state solution.

  • Spain: Spain’s Prime Minister Pedro Sanchez announced the recognition in the Spanish Parliament. European Union countries Spain and Ireland, along with Norway, have taken this step amid international outrage over the civilian death toll and humanitarian crisis in the Gaza Strip following Israel’s offensive.

  • Norway: Prime Minister Jonas Gahr Store and Foreign Minister Espen Barth Eide jointly made the announcement in Oslo. Israel’s Foreign Minister Israel Katz swiftly ordered the return of Israel’s ambassadors from both Norway and Ireland in response to the recognition.

Israel’s Reaction

Israel has expressed strong disapproval, considering this move a “gift to Hamas.” The recognition has further strained relations between Israel and the three European nations.

Formal Recognition Date

The formal recognition of the Palestinian state is set for May 28, 2024. This decision marks a significant milestone in the ongoing Israeli-Palestinian conflict and has implications for regional dynamics.


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