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U.S. seizes oil tanker off the coast of Venezuela, Trump says, escalating tensions CBS NewsUS seized oil tanker off Venezuelan coast, Trump says CNNTrump's dawn raid on the high seas may be followed by something even more severe Sky NewsUS seizes sanctioned oil tanker off coast of Venezuela, Trump says Reuters
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Wenne Alton Davis, Actor in ‘Marvelous Mrs. Maisel,' Hit by S.U.V. and Killed The New York Times'Marvelous Mrs. Maisel' actor Wenne Davis dead after being hit by car USA TodayActress Wenne Alton Davis fatally struck by Cadillac in NYC, appeared in 'Marvelous Mrs. Maisel' New York Daily News‘Marvelous Mrs. Maisel' Actress Wenne Alton Davis Struck And Killed By Cadillac YahooDr
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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 central bank cut interest rates by a quarter of a percentage point, seeking to steady a softening labor market.
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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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Divided Fed lowers rates, signals pause and one 2026 cut as growth rebounds ReutersThe Fed just cut interest rates for the third-straight time CNNA divided Fed cuts interest rates again as economic concerns persist NBC NewsFederal Reserve Chair Holds News Conference C-SPAN'Be careful what you wish for': Top economist warns any additional interest rate cuts after
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The Federal Reserve on Wednesday made its final final interest rate move of the year.
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Growth was led by BDO's tax (7%) and advisory (4%) service lines, followed by audit and assurance (3%) and business services outsourcing (2%)..
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Some analysts see ample opportunity now that the U.S. plans to allow chip sales to China again, but others worry about further geopolitical roadblocks.
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While fears about slowing economic growth have roiled stock markets in recent weeks, credit markets remain stable and bullish, and a recession hasn't materialized as some analysts predicted. Robin Greenwood discusses the market conditions that are buoying the economy—and risk signals to watch.
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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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