The Latest Breaking News from US Federal Reserve

The U.S. mortgage market is experiencing a resurgence not seen in years, as a sharp drop in borrowing costs prompted a wave of refinancing activity ahead of the Federal Reserve's widely expected interest rate cut—signaling that homeowners aren't waiting for policy confirmation to lock in savings.

Cotton price action is down 25 to 50 points early on Thursday morning. Futures were weaker on Wednesday, with contracts down 37 to 53 points across the nearbys. The US dollar index was up $0.392 on the day to $96.640. The Fed cut rates by 25 basis points, as expected...

UBS and Deutsche Bank both upgraded their forecasts on gold, raising price forecasts as the Federal Reserve resumes easing, central bank demand remains robust, and the U.S. dollar faces downward pressure.

Plus: Pam Bondi flunks free speech 101.

The dissent at the Federal Reserve this week shows its future does not look like its past.

Jerome Powell delivered a 25bps rate cut, but Wall Street’s muted reaction reflects concern it was a risk move on jobs, not confidence.

September S&P 500 E-Mini futures (ESU25) are up +0.84%, and September Nasdaq 100 E-Mini futures (NQU25) are up +1.10% this morning, pointing to a sharply higher open on Wall Street after the Federal Reserve cut interest rates for the first time since December and signaled more reductions could follow soon.

Editor’s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.

European stocks rallied on Thursday after the Fed cut rates to 4.00%–4.25% and signalled more easing. Markets cheered the dovish tone, boosting equities across the eurozone, with tech and bank shares leading the gains.

Donald Trump wants drastic rate cuts – and his campaign to exert greater political control over the Fed continues

The Federal Reserve cut interest rates for the first time in 2025, which could impact mortgage rates, bond yields, and boost crypto. The move will ripple across consumer finances, affecting mortgages, credit cards, student loans, auto loans, and savings accounts.