Despite inflation remaining above the Fed's 2% target and tariffs expected to push inflation higher into next year, the Fed cut rates in response to signs of softness in the labor market in recent jo...

Gulf central banks cut their key interest rates on Wednesday after the Federal Reserve cut U.S. interest rates by 25 basis points for the first time this year.

The FOMC statement says “job gains have slowed, and the unemployment rate has edged up but remains low” and “downside risks to employment have risen” while inflation “has moved up and remains somewha...