September 18, 2024

Fed cuts interest rate by half-point in major shift after two years of high rates – September 18, 2024

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59 minutes

Comprehensive coverage of the day’s news with a focus on war and peace; social, environmental and economic justice.

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but made borrowing more expensive for consumers.

The U.N. General Assembly strongly supported a nonbinding Palestinian resolution demanding that Israel end its “unlawful presence” in Gaza and the occupied West Bank within a year.

The House rejected Speaker Mike Johnson’s proposal that would have linked temporary federal funding with a mandate for states to require proof of citizenship for voter registration.

Democratic and Republican senators traded barbs in hearing on hate crimes

The U.S. Justice Department is suing the owner and manager of the cargo ship that caused the Baltimore bridge collapse earlier this year.

The city of Oakland initiated closure of significant homeless encampment near Martin Luther King Jr. Way

The post Fed cuts interest rate by half-point in major shift after two years of high rates – September 18, 2024 appeared first on KPFA.

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KPFA - The Pacifica Evening News, Weekdays

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September 18, 2024

Fed cuts interest rate by half-point in major shift after two years of high rates – September 18, 2024

Listen Later

59 minutes

Comprehensive coverage of the day’s news with a focus on war and peace; social, environmental and economic justice.

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but made borrowing more expensive for consumers.

The U.N. General Assembly strongly supported a nonbinding Palestinian resolution demanding that Israel end its “unlawful presence” in Gaza and the occupied West Bank within a year.

The House rejected Speaker Mike Johnson’s proposal that would have linked temporary federal funding with a mandate for states to require proof of citizenship for voter registration.

Democratic and Republican senators traded barbs in hearing on hate crimes

The U.S. Justice Department is suing the owner and manager of the cargo ship that caused the Baltimore bridge collapse earlier this year.

The city of Oakland initiated closure of significant homeless encampment near Martin Luther King Jr. Way

The post Fed cuts interest rate by half-point in major shift after two years of high rates – September 18, 2024 appeared first on KPFA.

...more

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