Fed Cuts Key Rate as Trump Trade War Pressure Narrows
The Federal Reserve trimmed its benchmark rate to 2.00 to 2.25 percent marking the first cut since 2008. Powell signaled potential future cuts but avoided promising a long, aggressive cycle while a 333 point Dow drop underscored market unease.
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Fed delivers first rate cut in a decade amid caution
The Federal Reserve trimmed rates by a quarter point to 2.0 2.25 percent marking the first cut since December 2008. Powell called it a mid cycle adjustment signaling possible further cuts but not a long rate cut cycle. Stocks fell with the Dow dropping over 470 points before rebounding slightly.
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Major networks sue Locast over streaming rights in New York
ABC CBS NBC and Fox sue Locast in federal court accusing copyright violations and seeking service shutdown. Locast argues nonprofit status allows streaming. networks say Locast benefits Dish and AT&T tied to DirecTV. Locast operates in 13 cities including New York Chicago Los Angeles and Houston while Amazon expands Ohio facilities in Akron and Rossford creating 2,500 jobs with up to 12.1 million in tax incentives.
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