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Tax-rebate checks are expected to arrive in the second quarter for consumers, but the bulk of relief from Trump's One Big Beautiful Bill Act is geared toward businesses
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Mets did not make an offer to Pete Alonso before he agreed to Orioles deal: Sources - The Athletic The New York TimesSources: O's, Alonso finalizing 5-year, $155M deal ESPNMLB free agency 2025: Live updates from winter meetings as Pete Alonso reportedly signs with Orioles, Edwin Diaz joins Dodgers Yahoo SportsWhy Mets never even bothered making Pete Alonso an offer New York Post
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Steve Cohen's message to Mets fans after losing Pete Alonso and Edwin Diaz New York PostSources: O's, Alonso finalizing 5-year, $155M deal ESPNThere is no sugarcoating Pete Alonso's bittersweet Mets ending New York PostThe Mets' core is no more. And now their front office needs to deliver - The Athletic The New York Times
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At this year's DealBook Summit, there was an understanding that in the Trump era, business runs through the White house like never before.
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The central bank's so-called dot plot indicates a median estimate of 3.4% for the federal funds rate at the end of 2026.
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Using Russian Assets to Help Ukraine Is Looking Like Europe's Least-Bad Option The Wall Street JournalEuropean leaders agree to fund Ukraine for 2 years but using Russian assets poses a major test ABC NewsEU close to a deal on Russian assets, summit to go on until agreement, Costa says ReutersStakes High, Europe Races to Save Its Financing Plan for Ukraine The New York Times
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The Federal Reserve cut its benchmark interest rate by a quarter point Wednesday for the third time since September, bringing its key rate to about 3.6%, the lowest in nearly three years. Before September, it had gone nine months without a cut.
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The S&P 500 index narrowly missed a fresh record close Wednesday and the Dow Jones Industrial Average finished with strong gains after the Federal Reserve's decision to deliver a final quarter-point rate cut for 2025, which gave investors optimism that equities can keep climbing through year-end.
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The central bank's decision to lower interest rates for a third straight meeting was highly contentious, reflecting an internal divide that will likely limit how much borrowing costs will fall next year.
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Three members of the Federal Open Market Committee didn't agree with the central bank's quarter percentage point cut on Wednesday.
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The Federal Reserve on Wednesday made its final final interest rate move of the year.
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It's the third cut this year, but officials are split over whether they've gone too far or not far enough.
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President Trump said Nvidia can export some chips. But years of U.S. restrictions have propelled China to make everything it needs for advanced A.I.
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I emailed 126,148 leads that were over five years old — 61 responded, and seven converted that same week. I'd say that's worth being "annoying" to a few.
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Wednesday's selling carried into Thursday as investors continued to take a risk-off approach to markets following the Federal Reserve's latest policy announcement.
The central bank issued its third jumbo-sized rate increase yesterday and set expectations that it will continue to hike rates over its next few meetings. However, the Fed is not alone in its aggressive stance. Several global central banks have increased their benchmark rates this week in an ongoing effort to tame inflation, including the Bank of England and Switzerland's National Bank, which earlier today issued 50 basis point and 75 basis point rate hikes, respectively. (A basis point is one one-hundredth of a percentage point.)
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"Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession," says Edward Moya, senior market strategist at currency data provider OANDA. "Most of these rate hikes around the world are not done yet which means the race to restrictive territory won't be over until closer to the end of the year."
The reaction here at home was a selloff in bond prices, which sent yields on government notes spiking. The 10-year Treasury yield surged 19.2 basis points to 3.704% - its highest level since early 2011 - while the 2-year Treasury yield spiked 12.1 basis points to 4.116%, its loftiest perch since late 2007.
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As for stocks, the tech-heavy Nasdaq Composite
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WHAT are Republican lawmakers in politics to achieve? Not many years ago, at the peak of their outrage over Barack Obama''s economic stimulus package, 'balanced budgets' might have featured in the answer. But the frenzied passage of the Tax Cuts and Jobs Act through Congress has revealed the insincerity of the party''s fiscal moralising. Republicans in Congress do not oppose government borrowing when it suits them. Rather, the overarching policy objective that unifies them is cutting taxes—and damn the fiscal consequences. Following the passage of the tax bill through the Senate in the early hours of December 2nd, Republicans are on the brink of achieving their goal.On November 30th budget scorekeepers unveiled a forecast for how much extra economic growth the tax bill might spark: enough to pay for about one third of its $1.5trn cost. Previously, Republicans might have viewed this projection as a triumph. They have long pressed for budget forecasts to include such 'dynamic' effects (see blog). But the score briefly seemed to imperil the bill. It undermined the absurd claim, made by the Republican leadership and the Trump administration, that tax cuts would pay for themselves in full. No serious economist ever thought this credible. Yet the official score seemed to blow Republicans'' ...
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