The Federal Reserve’s Federal Open Market Committee (FOMC) announced on Wednesday that it would lower the target range for the federal funds rate by 25 basis points, a quarter-point cut, to 3.50%–3.75%.
Read More Fed. Reserve cuts rate another quarter-point
It would be the third cut in a row and bring the Fed’s key rate to about 3.6%, the lowest in nearly three years.
Read More Federal Reserve likely to cut rates, may signal just one more reduction next year
The weakness is probably not a true reflection of the labor market’s health, with recent government data showing layoffs remaining at low levels late last month.
Read More US private payrolls decline in November as small businesses shed jobs
Employers added a surprisingly solid 119,000 jobs in September, issuing a key economic report that had been delayed seven weeks by the federal government shutdown.
Read More Wall Street shoots toward its best day since May on Nvidia’s profit report and hopes for lower rates
The U.S. Supreme Court (SCOTUS) announced on Wednesday that it will hear oral arguments on January 21, 2026, in Trump v. Cook, a media-frenzied case testing the president’s authority to remove members of the Federal Reserve Board of Governors.
Read More SCOTUS: Oral arguments to be heard Jan. 2026 in Federal Reserve case involving Lisa Cook
The S&P 500 added 0.1% in morning trading and remains near its all-time high set a couple weeks ago.
Read More US stocks are drifting around their records as AMD rallies