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Lebanon Seeks to Distance State from Hezbollah After Cyprus Drone Incident

                                                         File photo: Youssef Ragg Lebanon has urged Cypriot authorities and the public not to conflate the Lebanese state with Hezbollah following a drone strike that originated from Lebanese territory and hit Cyprus six days earlier. Lebanese Foreign Minister Youssef Raggi emphasized that the attack was carried out independently by Hezbollah and does not reflect the policies, values, or intentions of the Lebanese government.  Raggi stressed that Lebanon rejects any attempt to use its territory for external agendas and reiterated that Hezbollah’s actions fall outside the state’s legal authority. He called on Cyprus to distinguish between the official Lebanese government and groups operating autonomously, noting that Lebanon has consistently affirmed its sovereignty ...
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Federal Feserve Lowers Interest Rates Amid Economic Uncertainty

 

In a move aimed at bolstering the economy, the Federal Reserve has cut interest rates by 25 basis points, bringing the new target range to 4.50%-4.75%. This decision marks the second consecutive rate cut by the central bank, following a larger 50-basis-point reduction in September.

The Federal Open Market Committee (FOMC) justified the rate cut as a necessary step to support its dual mandate of maintaining stable prices and maximizing employment. Recent economic data has shown mixed signals, with inflation cooling but the labor market showing signs of softening. The latest Personal Consumption Expenditures (PCE) index indicated that inflation rose 2.1% in September, close to the Fed’s 2% target, but core inflation remained steady at 2.7%.

Fed Chair Jerome Powell emphasized the importance of this adjustment in a press conference, noting that the central bank is committed to navigating the complex economic landscape to ensure sustainable growth. The unanimous vote by the FOMC reflects a cautious approach to monetary policy as the Fed continues to balance the risks of inflation and employment.

This rate cut is expected to make borrowing slightly cheaper for consumers and businesses, potentially stimulating economic activity. However, the Fed’s removal of certain language from its policy statement has raised questions about the pace and number of future rate cuts.

As the economic outlook remains uncertain, the Federal Reserve’s actions will be closely watched by markets and policymakers alike.


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