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Thousands of golden retrievers gather to break record

admin - Latest News - December 10, 2025
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Thousands of golden retrievers gather to break record



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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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