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The Federal Reserve pressed the pause button to cut interest rates, and Powell made it clear that he was not in a hurry to cut interest rates! OPEC + will discuss Trump's plan to increase U.S. crude oil production, and the London gold market is queuing up to borrow gold... What major events happened in the world last night and this morning?
The Fed has hit the pause button on interest rate cuts, entering a new wait-and-see phase as it tries to decide whether to cut rates from their recent two-decade highs and by how much, according to Nick Timiraos. Wednesday's decision to keep rates on hold follows three consecutive rate cuts from September, when rates were about 5.3 per cent. Officials made only minor changes to their policy statement at the end of the two-day meeting, which indicated that inflation remained slightly above target...
