Expectations for a December interest rate cut remained strong after the Federal Reserve trimmed rates by a quarter percentage point in November, but market pricing is suggesting the likelihood of a “skip” in January. On Thursday afternoon, the U.S. central bank lowered the federal funds rate, which determines what banks charge each other for overnight lending, to a target range of 4.5% to 4.75%. Before the Fed released this decision at 2 p.m. ET, market pricing pointed toward a...

In Pennsylvania, the handwringing and recriminations started almost as soon as the essential 2024 battleground state was called for Donald Trump. How did Philadelphia, the Democratic bulwark, deliver such an anemic margin for Kamala Harris? What explains the bellwether counties that Donald Trump wrested back after Joe Biden flipped them to the Democratic Party? And what happened in rural Pennsylvania, where the Harris campaign made an effort to show the flag and yet still lost 30 of the...

The GOP has a different kind of soul-searching to do. Something strange is going on with American voters. Gone are the days of George W. Bush voters checking the box for every (R) down the list. Tuesday's voters weren't cooperating. President-elect Donald J. Trump may have won and Republicans may have taken the Senate (and likely the House), but it’s not all wine and roses for the Grand Old Party. In Wisconsin, Democratic Sen. Tammy Baldwin defended her seat against businessman Eric Hovde...

As President Joe Biden gathers his personal affairs from the White House in preparation for his departure, he'll also have to grapple with a huge elephant in the room: whether to pardon his son Hunter. Ahead of his exit, Biden will at some point meet with Donald Trump, the President-Elect - who appears, at least publicly, to be more amenable to pardoning Hunter than Biden himself is. While President Biden has tried to quash suggestions he might pardon his son, Trump...

The red shift in 2024 was so broad that no one localized issue appeared to tip the election in President-elect Donald Trump’s favor. However, one key factor may have been voters’ widespread dissatisfaction with the economy. Enduring pessimism about the US economy has puzzled political analysts, given that most major indicators suggest it is strong and that the US has recovered better than other countries from a pandemic-induced slump. Inflation has ...

Russian President Vladimir Putin on Thursday congratulated Donald Trump on his election victory in his first public comment on the U.S. vote, and he praised the president-elect’s courage during the July assassination attempt. “His behavior at the moment of an attempt on his life left an impression on me. He turned out to be a brave man,” Putin said at an international forum following a speech in the Black Sea resort of Sochi. “He manifested himself in the very correct way, bravely as a...

Donald Trump's transition team is already vetting potential candidates who could serve in his administration when he returns to the White House in January. On Thursday, he made the first announcement, naming his campaign co-manager Susan Summerall Wiles as his White House chief of staff. Many of the figures who served under Trump in his first term do not plan to return, though a handful of loyalists are rumoured to be making a comeback. But the US president-elect is now surrounded by a...

Vladimir Putin has congratulated Donald Trump on his election victory and said Moscow was ready for dialogue, in a development that will deeply concern Kyiv and dial up unease across Europe. Speaking publicly about Trump’s win for the first time on Thursday at a discussion forum in Sochi, the Russian president also heaped praise on the way Trump had reacted to the attempt on his life. His remarks, which characterized the president-elect as a “courageous person” who responded “like a man...

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