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Wall Street Pauses as Fed Meeting Looms: Futures Hold Steady

U.S. stock futures were little changed on Tuesday as investors awaited the start of the Federal Reserve’s final policy meeting of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all hovered near flat, reflecting a cautious mood across Wall Street. The Fed is widely expected to keep interest rates unchanged, but traders are focused on Chair Jerome Powell’s comments and the central bank’s updated economic projections. Markets are looking for clues on when rate cuts might begin in 2024, with inflation cooling but still above the Fed’s long-term target. Recent gains in equities have been fueled by optimism that the Fed’s tightening cycle is over, yet uncertainty remains about how quickly monetary policy will shift toward easing. Until then, investors appear content to hold their positions, waiting for clearer signals from the Fed before making bold moves.
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Trump Orders Expansion of Migrant Facility at Guantanamo Bay

In a move that has sparked significant debate, President Donald Trump announced on Wednesday that he will sign an executive order instructing the Pentagon and the Department of Homeland Security to prepare a migrant facility at Guantanamo Bay. This directive aims to expand the existing Migrant Operations Center to full capacity, providing additional detention space for high-priority criminal aliens unlawfully present in the United States.

Trump's announcement came during the signing ceremony for the Laken Riley Act, an immigration detention measure. He emphasized the need to halt what he described as a "border invasion" and mentioned that the facility at Guantanamo Bay has 30,000 beds to detain the worst criminal illegal aliens. Homeland Security Secretary Kristi Noem supported the move, stating that resources could be established for the "worst of the worst" at Guantanamo Bay.

The decision to use Guantanamo Bay, a site historically associated with the detention of terrorism suspects, has raised eyebrows and concerns among various officials and human rights advocates. The facility, which became a detention site in 2002 under President George W. Bush, has been a contentious issue for years, with former Presidents Joe Biden and Barack Obama both attempting to shut it down during their terms.

The announcement has caught many officials at the Pentagon off guard, with some expressing uncertainty about the number of beds currently available for migrants and whether this would be a short- or long-term mission. The move is part of Trump's broader efforts to crack down on illegal immigration, which has been a central theme of his political career.


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