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Live Updates: Israel, Lebanon agree to renew ceasefire as Iran launches deadly attack on Kuwait airport CBS NewsUS ally Kuwait condemns 'brutal and ongoing Iranian attacks' after airport was hit Fox NewsIran War Live Updates: Kuwait Says One Killed and Dozens Injured in Iranian Attack on Airport The New York TimesIranian attack on Kuwait airport kills one and injures dozens - as it happened Reuters
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Israel and Lebanon agree to renew ceasefire as Trump seeks to overcome barriers to Iran deal The GuardianLive updates: Israel and Lebanon agree to implement ceasefire as US-Iran talks remain in flux CNNIsrael and Lebanon renew ceasefire on condition Hezbollah holds its fire France 24Israel and Lebanon Agree to Renew Cease-Fire The New York Times
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Jennifer Aniston Shares Rare Comments About Ex-Husband Brad Pitt's ‘Friends' Cameo Just JaredJennifer Aniston Shares Rare Comments About Ex Brad Pitt YahooJennifer Aniston Makes Rare Comment About Ex-Husband Brad Pitt instyle.comJennifer Aniston reminisces about ex-husband Brad Pitt's ‘Friends' cameo Page SixJennifer Anis
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The new Fed chair has made his first hires. One wrote the Fed chapter in the conservative policy blueprint "Project 2025."
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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