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Massive Russian Strikes Cripple Ukraine’s Power Grid Ahead of Peace Talks

An employee works at a thermal power plant damaged by multiple Russian missile strikes, in an undisclosed location in Ukraine. Russian forces launched a sweeping overnight assault on Ukraine’s energy network, striking multiple regions just hours before planned peace discussions. The barrage targeted major cities including Kyiv and Kharkiv, damaging power stations and transmission lines that millions rely on for heat and electricity during freezing winter conditions. Ukrainian officials reported widespread outages, with emergency crews working through the night to stabilize the grid. Residential areas were also hit, leaving civilians injured and prompting renewed concerns about the humanitarian toll of the conflict. The timing of the strikes has drawn sharp criticism from Ukrainian leaders, who argue the attacks are intended to undermine the upcoming negotiations and pressure Kyiv at the bargaining table. Despite the escalation, both sides are still expected to attend the talks, thou...
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Federal Reserve Signals Slower Rate Cuts Amid Economic Uncertainty

 

The Federal Reserve is poised to announce a quarter-point rate cut on Wednesday, reducing its benchmark rate from 4.6% to approximately 4.3%. This move follows a half-point cut in September and a quarter-point reduction in November. However, Fed officials are signaling a slower pace of rate cuts in 2025, with expectations of only two or three reductions compared to the four previously anticipated.

The central bank's policymakers are recalibrating their approach as inflation has significantly decreased from its peak of 7.2% in June 2022 to 2.3% in October. Despite this progress, inflation remains above the Fed's 2% target, and the economy continues to grow robustly. Fed Chair Jerome Powell has emphasized the need for caution as the benchmark rate approaches a "neutral" level that neither stimulates nor hinders economic growth.

The upcoming presidential administration's proposed economic policies, including potential tariffs and tax cuts, add to the uncertainty surrounding future rate decisions. As a result, Americans may see only slight relief from high borrowing costs in the near future.




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