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Michael Nagle / Bloomberg via Getty ImagesKey TakeawaysTraders raised bets that the Federal Reserve would continue to aggressively cut interest rates later this year after the Fed delivered a larger-than-average 50 basis-point cut at Wednesday’s meeting.Wall Street expects the Fed to cut rates by another 75 basis points by the end of the year, implying one more 50-point cut in either November or December.Market expectations for rate cuts in 2025 also exceed the estimates policymakers laid out in their quarterly economic projections.Traders on Wednesday upped bets that the Federal Reserve would continue to aggressively cut interest rates this year after…

The Federal Reserve has broken a four-year run and cut its benchmark interest rate by half a percentage point to 4.75-5.0 percent.This significant move signals that the US central bank believes it is winning the war on inflation and will now focus on preventing the job market from weakening.One immediate effect should be lower borrowing costs for both consumers and businesses in the run-up to November’s presidential election.In an official statement, the Fed’s Federal Open Market Committee said: “The Committee seeks to achieve maximum employment and inflation at the rate of two percent over the longer run. The Committee has…

EGLIN AIR FORCE BASE — The 96th Test Wing will conduct a joint aircraft mass casualty accident response exercise on Sept. 25, during which General Bond Boulevard will close from 8 a.m. to noon.According to a news release, the exercise aims to evaluate the wing’s ability to establish and maintain command, control and coordination with multiple agencies on and off base.Base officials say that the exercise will partner with Destin-Fort Walton Beach Airport and replicate a major airline crash. The exercise will include participation from Eglin’s fire department, Okaloosa County Department of Public Safety, the Okaloosa County Sheriff’s Office; 96th…

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U.S. Secretary of State Antony Blinken expressed frustration Wednesday at surprise escalations that threaten to derail efforts to broker a cease-fire deal in Gaza, noting that the United States is assessing a deadly attack that caused pagers used by Hezbollah to explode in Lebanon.Video above: Blinken says US ‘did not know’ about Lebanon pager attacksBlinken spoke to reporters in Cairo, where he traveled for talks on the cease-fire negotiations and U.S.-Egyptian relations. While Israel has not publicly spoken on responsibility in the pager attack, a U.S. official has said Israel briefed the United States after the explosions.The United States, Egypt…

Ethereum is attempting recovery after the Fed reduced rates by 50 basis points. ETH holders are displaying mixed actions following its weak performance against Bitcoin. Ethereum could break above the $2,395 resistance level. Ethereum (ETH) is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve’s (Fed) decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds (ETF) recorded $15.1 million in outflows. Ethereum attempts to stage recovery following Fed rate cut Ethereum and the general crypto market are seeing buying momentum after the Fed reduced interest rates by 50-basis-points to 4.75% -…

The Insight Select Income Fund (INSI) has declared a quarterly dividend of $0.20 per share, payable on October 24, 2024, to shareholders of record as of October 10, 2024. The ex-dividend date is also set for October 10, 2024. This distribution maintains the Fund’s recent quarterly dividend trend, with the last four payments totaling approximately $0.80 per share.INSI is a diversified closed-end management investment company focusing on achieving high returns primarily through interest income and trading activities. The Fund’s portfolio mainly consists of debt securities, with an additional aim of capital appreciation by purchasing undervalued…

This fall, former NFL star Cam Newton is bringing his hit podcast Funky Friday to the heart of the AUC, teaming up with EBONY and Wells Fargo for a special live recording. Hosted by Newton, Funky Friday brings a mix of lifestyle, relationships, workplace habits, and pop culture discussions, each episode featuring a new celebrity guest. But this episode is set to bring a deeper conversation centered on financial literacy, aimed directly at empowering students with personal finance tips.Joining Newton will be EBONY CEO Eden Bridgeman, as they share their first money memories and offer practical advice to help students…

The Honda S2000 has become a contentious topic among enthusiasts, with persistent rumors of its revival leaving fans both hopeful and disappointed. Despite the lack of official confirmation from Honda, the allure of a modern S2000 has fueled countless digital renderings, often showcasing controversial designs that fail to capture the spirit of the original. However, recent illustrations have offered a glimmer of hope, presenting a vision of the S2000 that could be worthy of the iconic nameplate. One such rendering, created by PoloTo and shared on YouTube, envisions a 2025 Honda S2000 that seamlessly blends classic elements with contemporary design…

Jerome Powell had big news Wednesday afternoon, with the Federal Reserve chair announcing the first interest rate cut in over four years. The federal funds rate, also known as the base interest rate, was reduced by 50 basis points, down from a two-decade high after the Fed fought the biggest spike in inflation since the early 1980s.Powell all but declared the battle against inflation won last month in a speech at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming. “The time has come for policy for adjust,” he said then, amid a rise in the unemployment rate and…