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After months of speculation and intense pressure by President Trump, Federal Reserve Chair Jerome Powell announced on Wednesday, Sept. 17, that the central bank would cut interest rates by 25 basis points.
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The Federal Reserve lowered rates by a quarter point, but one governor voted for a bigger cut. Balancing persistent inflation and a weaker labor market was "a challenging situation," the central bank chair said.
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Markets await the Fed's rate cut decision and guidance, while China bans Nvidia AI chips, TikTok's U.S. ownership deal advances, and StubHub launches its IPO.
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From Trump's first ban attempt to a 2025 blackout, TikTok's U.S. battle with Washington, data privacy fears, and a last-minute deal shows how close it came to collapse.
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Some analysts view China's reported move to ban sales of Nvidia's RTX Pro 6000D as "political theater" and "posturing" in light of trade talks with the U.S.
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The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation's labor market.
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Newly confirmed Federal Reserve Governor Stephen Miran dissented from the central bank's decision.
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As President Trump extended for a fourth time a deadline to determine TikTok's future in the United States, details of an agreement to address concerns about the app began to emerge.
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