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Powell speaks after Federal Reserve interest rate decision

admin - Latest News - December 10, 2025
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Watch live coverage as Fed Chair Jerome Powell holds a press conference after the Federal Reserve announces its interest rate decision. The Fed is expected to cut interest rates for the third time this year.



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Dec. 10, 2025, 5:00 AM EST / Updated Dec. 10, 2025, 2:00 PM ESTBy Steve KopackThe Federal Reserve on Wednesday cut its influential interest rate for the third time this year as it tries to balance rising inflation with a labor market that appears to have weakened in recent months.The move could provide a boost to the U.S. economy, but Fed Chair Jerome Powell has recently warned that there is no risk-free path for the central bank to take.The cut of a quarter point — a cautious move by the Fed — could make it cheaper for average Americans who hold a mortgage, have credit card debt or need to take out or refinance a personal loan. It would also help businesses borrow at lower rates.The rate cut had been anticipated by investors, but some doubt remained after a few members of the Fed’s committee expressed concerns that lower interest rates could push consumer prices higher. Three Fed officials dissented against the cut. Fed governor Stephen Miran, who is on temporary leave from the White House, voted for a half point cut. Regional presidents Jeff Schmid and Austan Goolsbee voted for no change to rates at all.The three dissents were the most for the normally united committee since September 2019.In economic projections released alongside Wednesday’s interest rate statement, Fed officials said they saw growth picking up next year more than previously expected, to 2.3%. Fed officials also projected one more interest rate cut next year and another in 2027. Fed officials also said that they expected inflation to decline to 2.4% next year, down from their previous expectation of 2.6%.“Available indicators suggest that economic activity has been expanding at a moderate pace,” the Fed said in a statement. “Job gains have slowed this year, and the unemployment rate has edged up through September.”“Inflation has moved up since earlier in the year and remains somewhat elevated,” members of the Fed’s open market committee added.Affordability has remained a major issue across the U.S., with President Donald Trump — who has repeatedly and vociferously called for the Fed to continue to cut interest rates — recently downplaying those concerns after having campaigned on them. Doubt about the overall economic picture lingers thanks in part to the fog of a data blackout, the result of the prolonged federal government shutdown this fall. Meanwhile, alternative data has consistently pointed to a slowing labor market. The payroll processor ADP’s most recent monthly private jobs report showed small businesses shed a whopping 120,000 jobs in November. Stocks jumped to their highs of the day after the Fed’s announcement, with the S&P 500 rising about a quarter of a percent. The Fed also announced Wednesday that it would buy billions of dollars of U.S. Treasury bonds per month, a move aimed at bolstering the plumbing of the financial system. This also helped push stocks higher.Steve KopackSteve Kopack is a senior reporter at NBC News covering business and the economy.
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Dec. 10, 2025, 2:38 PM ESTBy Daniel ArkinThe fundraising website GoFundMe saw a sharp uptick this year in the number of people using the platform for help covering the cost of housing, food and other day-to-day necessities, according to the company’s annual analysis of campaigns.GoFundMe’s self-published “Year in Help” report found that the number of campaigns launched to assist people with rent, utilities and groceries climbed 20% over the previous year. The platform’s fastest-growing category was “Charity,” followed by “Monthly Bills.”GoFundMe’s analysis underlines growing worries across the U.S. about affordability. In recent months, some economists and lawmakers have sounded alarms about softer wage growth for lower-income workers, declining consumer confidence and tepid hiring.The affordability issue is also staring to loom larger in national politics. President Donald Trump regularly insists that consumer prices have come down since his return to the White House in January. This week, Trump gave the economy during his second term an “A-plus-plus-plus-plus-plus-plus” grade in an interview with Politico.In GoFundMe’s “community causes” category, more fundraisers were launched this year to support food banks than any other cause, the company said in a news release accompanying the report.Between the end of October and early November, GoFundMe saw a nearly sixfold increase in food-related fundraisers on the site. The timing coincided with a federal government shutdown that abruptly halted SNAP food assistance benefits and forced tens of thousands of federal employees to go without paychecks for several weeks.“In a year marked by natural disasters and growing everyday needs, the power of help united communities like never before: with 2.5 donations made every second on average, people across the globe came to GoFundMe to lift up others, support nonprofits, and strengthen communities,” the company said in the release.The “most generous” day of the year was Jan. 10, in the midst of the Los Angeles wildfires. GoFundMe users in all 50 states raised a combined $265 million for wildfire relief, according to the company’s statistics.Ireland topped the list of the “most generous countries” for the seventh year in a row, followed by the U.S. and the United Kingdom.Daniel ArkinDaniel Arkin is a senior reporter at NBC News.
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Savewith a NBCUniversal ProfileCreate your free profile or log in to save this articleOct. 6, 2025, 6:32 AM EDT / Updated Oct. 6, 2025, 4:37 PM EDTBy Alexander SmithIsrael and Hamas began indirect peace talks Monday, with hopes it could represent the best chance yet to end the two-year war and free the remaining hostages from Gaza.Egypt’s state-owned Al-Qahera News television station reported that the talks began with a meeting between Arab mediators and the Hamas delegation. Mediators will then meet with the Israeli delegation, the station said.Egyptian and Qatari mediators will discuss the outcome of their meetings with both parties, before U.S. special envoy Steve Witkoff joins the talks, it said.”I really think we’re going to have a deal. We have a really good chance of making a deal, and it will be a lasting deal,” President Donald Trump told reporters at a media gathering Monday. White House press secretary Karoline Leavitt said at a briefing Monday that Witkoff and Trump’s son-in-law Jared Kushner were holding talks with “their respective parties from all sides.””The president wants to see a ceasefire. He wants to see the hostages released, and the technical teams are discussing that as we speak to ensure that the environment is perfect to release those hostages,” Leavitt said. “They’re going over the lists of both the Israeli hostages and also the political prisoners who will be released. And those talks are underway, and the president is very much on the ball and is being apprised of this situation.”On the anniversary eve of Hamas’ Oct. 7, 2023, terror attack, and subsequent military operation by Israel, representatives from all sides arrived in the Red Sea resort of Sharm el-Sheikh to discuss a 20-point peace plan tabled by Trump to halt the conflict.Hamas’ delegation is being led by senior official Khalil Al-Hayya, whom Israel tried to assassinate with a strike on Qatar last month. Al-Hayya, whom Israeli President Isaac Herzog described as a “murderous terrorist” in the wake of the Qatar strike, arrived in Egypt early Monday, Hamas said in a statement.Prime Minister Benjamin Netanyahu in Washington.Will Oliver / Bloomberg via Getty ImagesIsrael’s delegation will be led by Strategic Affairs Minister Ron Dermer, according to Israeli Prime Minister Benjamin Netanyahu’s office Sunday. The two sides have agreed on parts of Trump’s proposal.Witkoff and Kushner traveled to Egypt to help hammer out the deal’s remaining sticking points, a senior White House official told NBC News on Saturday.Trump called the talks “very successful, and proceeding rapidly,” and said Monday’s meetings was just a case of technical teams clarifying “final details.” He wrote in a social media post that “the first phase should be completed this week.”Bishara Bahbah, a Palestinian American mediator, said in an interview that Hamas leaders were optimistic about the prospects of arriving at an agreement and feel specifically reassured by Trump’s recent comments. They believe Trump is the only person who can pressure Netanyahu into a deal, Bahbah added.Bahbah said he believes Hamas is unlikely to walk away from the talks without a deal, though “Hamas wants assurances that the war has truly ended and there will be no going back to the war and no Israeli violations” of the agreement, he said.On Monday, the Hostages Families Forum Headquarters, a group that coordinates efforts for those still held in Gaza, sent an “urgent letter” to the Norwegian Nobel Committee, “strongly urging” the body to award the Nobel Peace Prize to the American president this week “for his unprecedented contributions to global peace.”A senior Arab negotiator directly involved in the talks told NBC News on Monday, “A deal will happen if President Trump keeps pushing.”A child sits in the rubble Wednesday at an UNRWA school in Gaza heavily damaged by Israeli attacks.Hamza Z. H. Qraiqea / Anadolu via Getty ImagesSecretary of State Marco Rubio was cooler, telling NBC News’ “Meet the Press” on Sunday that finding a resolution would take “some time” and that “there’s some work that remains to be done.”It came as Israel said it deported 171 activists, including the campaigner Greta Thunberg, who sailed toward Gaza on an aid flotilla. The detainees, whose vessels were boarded by Israeli military personnel, were deported to Greece and Slovakia, the Israeli Foreign Ministry said in a statement. The first phase of the talks will deal with the release of the remaining 48 hostages, some 20 of whom are believed to still be alive, in exchange for Palestinian prisoners held in Israel.The plan also calls for the end of fighting and the withdrawal of Israeli forces. Hamas agreed to some of this proposal Friday, while sidestepping Trump’s call for it to disband and disarm.On Sunday, Hamas leader Mahmoud Mardawi denied as baseless reports in Arab media that the group had agreed to lay down its weapons.Israel says it agrees with the plan, buoying the yearslong, impassioned domestic campaign by families and supporters of the hostages to cease fighting so they can be brought home.Ohad Ben Ami, 56, was released in February, having been kidnapped from kibbutz Be’eri, in southern Israel, and held captive for 491 days. On Sunday, he showed NBC News the place where he was taken on Oct. 7.”When we were down there” in the deep Gaza tunnel where he was held, he said he was told “many times there was a deal in the air,” he said. “We were very happy and on a high, then they say, ‘no it’s collapsed’ and we were very depressed.”A protest organixed by the families of the Israeli hostages, outside Netanyahu’s residence in Jerusalem on Saturday.Ahmad Gharabli / AFP via Getty ImagesStill, Netanyahu faces pressure from his own government over negotiations. Far-right Finance Minister Bezalel Smotrich said on X that stopping attacks on Gaza would be a “grave mistake.”In Gaza, many Palestinians are desperate for an end to the bombardment that has killed more than 67,000 people, most of them women and children, according to the Health Ministry. Some 78% of buildings have either been damaged or destroyed.The prospect of an agreement has not stopped the Israeli attacks. Gaza’s Hamas-run Government Media Office said Sunday that Israel had carried out 131 airstrikes on Gaza over the past 48 hours, killing 94 Palestinians.Israel launched the offensive after Hamas’ Oct. 7 terror attack, in which some 1,200 were killed and another 250 kidnapped.Though freeing the hostages would be a “significant achievement and a fulfillment of a principal war objective,” IDF Chief of Staff Lt. Gen. Eyal Zamir warned his troops to be ready.“The operation is not over; we must remain alert and ready for combat at all times,” he said in a statement Sunday. “If the political effort does not succeed, we will return to fight.”Alexander SmithAlexander Smith is a senior reporter for NBC News Digital based in London.Reuters, Yarden Segev, Marc Smith, Richard Engel, Matt Bradley, Tara Prindiville and The Associated Press contributed.
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