The Federal Reserve made its third consecutive interest rate cut on Wednesday, reducing its benchmark rate by a quarter of a percentage point. The move, widely anticipated by investors and financial markets, brings the federal funds rate to a target range of 4.25 percent to 4.50 percent. Since beginning its rate cuts in September, the Fed has now lowered rates by a total of 100 basis points, or one percentage point.
Columbia College Chicago will eliminate 11 degree programs and lay off up to 25 full-time faculty members starting in the 2025-26 school year, as part of a strategy to address ongoing financial difficulties.
Florida Attorney General Ashley Moody is calling on the Federal Emergency Management Agency (FEMA) to eliminate or suspend burdensome regulations preventing Floridians from rebuilding their homes after the devastating hurricanes Helene and Milton. These restrictions, she argues, are forcing some residents to abandon their communities altogether.
New court filings from conservative commentator and former Fox News host Ed Henry cast significant doubt on rape allegations made by former Fox Business associate producer Jennifer Eckhart. The lawsuit, originally filed in 2020, accused Henry of “handcuffing and raping” Eckhart in 2017. However, newly released evidence indicates their relationship was consensual and involved explicit exchanges initiated by Eckhart.
Inflation rose in November at the fastest pace in four months, marking the second straight month of acceleration. The Department of Labor reported Wednesday that the consumer price index (CPI) increased by 2.7% over the past year, matching economists' forecasts. Core inflation, which excludes food and energy prices, climbed 3.3% year-over-year.
