What recent changes has the Federal Reserve made to interest rates?
Live from NPR News, I'm Lakshmi Singh. The Federal Reserve is making it a little cheaper to borrow money. NPR's Scott Horsley reports the central bank lowered its benchmark interest rate today by a quarter percentage point.
The quarter point rate cut was widely expected, but it was not a unanimous decision. Two members of the Fed's rate setting committee wanted to hold rates steady today, while one wanted a larger half point reduction. By lowering its benchmark rate, the Fed hopes to prop up the job market, which has been showing signs of weakness.
The economy saw a net loss of jobs in both June and August, and the unemployment rate has been inching up. The central bank has now cut interest rates at three consecutive meetings, but with inflation still running well above the Fed's target, policymakers signal they'll be cautious about cutting rates further next year. Scott Horsley, NPR News, Washington.
Bell chimes filling Oslo City Hall streamed by the Nobel Committee as members of the Norwegian royal family and distinguished guests gathered to present this year's Nobel Peace Prize to Venezuela's de facto opposition leader, Maria Corina Machado. Having been in hiding, Machado was unable to attend the ceremony but was expected to arrive later in Oslo.
Her daughter, Ana Corina Sosa Machado, accepted the Peace Prize on her mother's behalf.
First, I want to express our infinite gratitude from my family, from an entire country, to the Norwegian Nobel Committee. Thanks to you, the struggle of an entire people for truth, for freedom, for democracy and peace is today recognized around the world.
But the Nobel Committee has come under criticism for praising Machado as a champion of democracy. after she publicly supported President Trump's military strikes on alleged drug boats off Venezuela's coast, alleged drug trafficking boats off Venezuela's coast.
Such operations in the Caribbean and Pacific have killed dozens of people, and in one case, the use of a secondary strike to kill survivors has come under scrutiny as a possible war crime. Canada's launching a sweeping new initiative in a bid to attract highly skilled foreign workers, including those holding H-1B visas in the U.S. NPR's Jackie Northam reports.
The Canadian government has pledged roughly $1 billion over the next few years to recruit scientists, researchers, and other specialists from all over the world. It's an effort to strengthen what it calls the country's innovation ecosystem and make its universities more competitive.
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