Skip to main content

Featured

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 ...
Post a Comment
Read more

article

Labels

Fed Poised to Cut Rates Again Amid Data Blackout and Economic Uncertainty

Federal Reserve Chair Jerome Powell has said the Fed will be taking a "meeting by meeting" approach to interest rate cuts. 

Despite a prolonged government shutdown that has left key economic indicators unavailable, the U.S. Federal Reserve is widely expected to implement another interest rate cut at the conclusion of its October 29 policy meeting. This would mark the second rate reduction in 2025, lowering the federal funds target range to 3.75%–4.00%.

The central bank’s decision comes as it navigates a murky economic landscape. With the Bureau of Labor Statistics unable to release September’s jobs report and other vital data due to the shutdown, Fed officials are relying on private-sector surveys and anecdotal evidence to guide policy. Former Kansas City Fed President Esther George noted that in the absence of official figures, the Fed is leaning on alternative sources that support its rationale for easing rates.

Inflation data, one of the few government metrics still available, showed a modest rise of 3.0% year-over-year in September, slightly below forecasts. Core inflation also eased, suggesting some cooling in price pressures. This has bolstered expectations for a rate cut, as the Fed seeks to balance its dual mandate of price stability and maximum employment.

Federal Reserve Chair Jerome Powell emphasized a “meeting-by-meeting” approach, acknowledging the risks of acting without comprehensive data. “There is no risk-free path,” Powell said earlier this month, highlighting the challenge of making policy decisions in a data vacuum.

The anticipated rate cut is expected to ease borrowing costs for consumers and businesses, potentially stimulating economic activity. However, analysts warn that without clear visibility into labor market trends and consumer spending, the Fed’s move could carry unintended consequences.

As the shutdown enters its fourth week, the Fed’s decision underscores the delicate balance between proactive monetary policy and the need for reliable data. Whether this cut will stabilize the economy or introduce new volatility remains to be seen.



Labels:

Comments

Post a Comment