The US Federal Reserve has lowered its benchmark rate by a quarter percentage point, to a range of 3.5%-3.75%. However, it signalled there will be fewer cuts going forward amid a cooling labour market and persistently high inflation. The vote was not unanimous, with two board members calling for keeping rates unchanged, and Trump ally Stephen Miran wanting a larger cut. Also in the segment: the United Arab Emirates is turning towards AI as part of a strategy of ensuring its future in a post-fossil fuels world.
