Fed leaves key rate unchanged amid tariff inflation debate
The Federal Reserve held the federal funds rate at about 4.3 percent for the fifth time this year, amid calls from President Trump for a cut. Chair Jerome Powell cited tariff-driven inflation risks while signaling no decision on September, with markets reacting negatively to the hold.
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Big bill begins undoing Medicaid legislation
The summer GOP tax and spending bill will cut more than 1 trillion over a decade from health care and food aid by applying work requirements and shifting costs to states. It aims to shrink federal services while sparking questions about access to Medicaid and SNAP. The Congressional Budget Office estimates 10 million more people could lose health insurance and 3 million fewer may be in SNAP, with local governments weighing tax hikes or budget cuts.
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Wall Street doubts Fed cuts as stocks slip on Wednesday
U S stock indices eased after renewed doubts on a September rate cut. The S P 500 fell 0 1 percent, the Dow dropped 171 points while the Nasdaq rose 0 1 percent as investors weighed higher Treasury yields and Powell s reluctance to commit to a September cut.
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