The move was more aggressive than the quarter-point rate cut some analysts were expecting.
Donald Trump just became the first former U.S. president to be convicted of felony crimes. Jurors deliberated for 9.5 hours.
Crypto entrepreneur Sam Bankman-Fried was sentenced to 25 years in prison for a massive fraud that unraveled with the collapse of FTX, the massive crypto exchange.
CEO Dave Calhoun will step down at the end of the year following a series of mishaps from the plane maker.
“We want to see strong growth and a strong labor market,” said Federal Reserve Chair Jerome Powell.
“Inflation has eased over the past year but remains over our longer run goal of 2%,” Powell said
The deal follows the pattern set with Ford last week and Jeep maker Stellantis over the weekend.
The Federal Trade Commission and more than a dozen U.S. states are alleging that Amazon used “its monopoly power” to inflate prices.
It’s the second time the Federal Reserve has kept rates unchanged in its last three meetings.
The move lifted the Fed’s benchmark short-term rate from roughly 5.1% to 5.3% — its highest level in 22 years.
