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What happened. On 29 October 2025 the Federal Reserve cut the target range by 25 basis points to 3.75-4.00% and said it would stop reducing its securities holdings from 1 December 2025. Why…
Read moreWhat happened. On 17 September 2025 the Federal Open Market Committee cut the federal funds target range by 25 basis points to 4.00-4.25%, citing a weaker labour market, with one member diss…
Read moreWhat happened. In his 22 August 2025 Jackson Hole speech Fed Chair Jerome Powell said the shifting balance of risks, with a softer labour market and tariff-related price pressures, may warra…
Read moreWhat happened. President Trump signed the One Big Beautiful Bill Act on 4 July 2025, extending 2017 tax cuts and changing spending programmes; the Congressional Budget Office estimated it wo…
Read moreWhat happened. Israel struck Iran on 13 June 2025, the US struck Iranian nuclear sites on 22 June and a ceasefire took effect on 24 June; crude oil prices spiked and then fell back when the…
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