The Federal Reserve in Washington has kept US interest rates at 5.5pc to 5.25pc since July last year – J. Scott Applewhite/APThe US Federal Reserve dramatically cut interest rates for the first time in more than four years on Wednesday night in an effort to support the world’s biggest economy.The central bank reduced borrowing costs by 0.5 percentage points – a larger than average cut – in what was the first reduction in borrowing costs since the onset of Covid in March 2020.The “dot plot” published by the central bank also indicated that interest rates could be cut by another…
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By Jack Queen NEW YORK (Reuters) -Harvey Weinstein pleaded not guilty to a new sexual assault charge on Wednesday, nearly five months after the disgraced Hollywood movie mogul’s earlier sex crimes conviction in New York was overturned. Weinstein, 72, who is recovering from emergency heart surgery, entered his plea to committing a criminal sexual act in the first degree at a hearing before Justice Curtis Farber in a New York state court in Manhattan. “Not guilty,” Weinstein responded emphatically when asked for his plea to the felony charge. Weinstein still faces two other criminal counts from an earlier indictment where…
The iconic Ford Mustang continues to reign supreme in the RWD two-door sports car segment, with sales of over 27k units in the first half of 2024, surpassing even the C8 Chevy Corvette. Despite the growing popularity of crossovers and SUVs, the Mustang’s enduring appeal has solidified its dominance. To maintain this momentum, Ford has introduced the limited edition Mustang 60th Anniversary Package for the 2025 model year, exclusively available for the 5.0 liter Coyote V8 equipped Mustang GT Premium Fastback and Convertible. This exclusive package offers a range of enhancements to the Mustang GT, including a unique exterior color,…
Originally appeared on E! OnlineWhere Kelly Bishop leads, Lauren Graham will follow.Gilmore Girls fans got a real treat at Bishop’s first official event for the release of her memoir The Third Gilmore Girl on Sept. 17.The 80-year-old, who famously played Gilmore matriarch Emily Gilmore, attended the talk in New York City, but it was her surprise interviewer that made fans go wild. Bishop’s on-screen daughter Graham, who played the beloved Lorelai Gilmore, delighted the crowd as she took to the stage to serve as the evening’s moderator.The pair, who appeared on all seven seasons of the hit Amy Sherman-Palladino series…
U.S. Vice President Kamala Harris in Milwaukee, Wisconsin, U.S. August 20, 2024 and former U.S. President Donald Trump in Bedminster, New Jersey, U.S., August 15, 2024 are seen in a combination of file photographs. Marco Bello | Jeenah Moon | ReutersFederal Reserve Chair Jerome Powell suggested that Wednesday’s larger-than-expected interest rate cut may have a limited effect on the presidential race between Vice President Kamala Harris and Donald Trump, because the decision’s impacts will ripple into the economy slowly.”The things that we do really affect economic conditions for the most part with a lag,” Powell said at his press conference, responding…
The Federal Reserve signaled Wednesday it would lower interest rates two more times this year after it slashed its benchmark federal funds rate by 50 basis points to a range of 4.75%-5.0% at the conclusion of its meeting on Wednesday.Fed officials see the fed funds rate coming down to 4.4% in 2024. That suggests the Fed will cut rates by an additional 0.50% later this year. Outside of Wednesday’s jumbo 50 basis point cut, the Fed has moved in 25 basis point increments over the last year or so, indicating the central bank expects to cut interest rates two more…
The Dodge Charger, despite the Challenger’s debut in 1970, continued to be a popular choice for car enthusiasts. While the Challenger’s launch may have stolen some of the Charger’s thunder, it didn’t diminish the Charger’s appeal. The six-cylinder engine, however, was largely overlooked by buyers, with only 600 units sold compared to the overwhelming demand for V8s. This preference for V8 power underscored the Charger’s performance-oriented nature. The R/T model, with its 440ci engine and enhanced handling package, was the epitome of performance. However, the SE model also garnered attention with its luxurious features. Leather seats, special hubcaps, hood turn…
The Federal Reserve’s decision Wednesday to start cutting interest rates could bolster green energy investments, which took a hit as the U.S. central bank drastically increased the cost of borrowing money over the past two years in a scramble to tamp down post-pandemic inflation. At its 2 p.m. meeting, the Fed slashed interest rates by 50 basis points ― one-half a percentage point ― delivering an even larger cut than the quarter of a percentage point Wall Street forecasters initially expected. But analysts said the market needs rates to come down further to reverse the project delays and cancellations slowing…
For the most part, fixed mortgage rates have decreased since yesterday, and adjustable rates have increased. Fixed rates have fallen significantly since the beginning of August. According to Zillow data, the average 30-year fixed rate is down 55 basis points since August 1, and the 15-year fixed rate has dropped by 54 basis points.Mortgage rates have been falling for almost seven weeks in anticipation of the Federal Reserve cutting the federal funds rate at today’s meeting. For weeks, many people expected the central bank to lower its rate by 25 basis points. However, the Fed announced it is slashing the…
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