U.S. central bankers reduced the interest rate target by half a percentage point in September. Federal Reserve Chair Jerome Powell stated that this significant reduction shows confidence in reaching the 2% inflation target, and it should not indicate future cut rates’ pace. Policymakers are divided between focusing on inflation risks and labor market concerns.
US stocks: Tech selloff weighs down Wall Street as bond yields climb
Wall Street faced a downturn as escalating tensions in the Middle East triggered a surge in bond yields. A steep decline was particularly evident in