The US Federal Reserve held its benchmark interest rate steady at 3.5, 3.75 percent at what is expected to be Jerome Powell's final meeting as Fed chair. The decision reflects continued caution around inflation and strain in the global economy. No rate cut or hike was announced. The Fed has kept rates elevated for an extended period as it tries to bring inflation durably back to its 2 percent target without triggering a sharp economic slowdown. Holding rates steady means borrowing costs for mortgages, auto loans, and business credit remain high. Markets closely watch Fed decisions because rate changes ripple through asset prices, corporate earnings, and currency values worldwide. Powell's expected departure marks a leadership transition at one of the world's most influential financial institutions. Who leads the Fed next and how that person reads inflation and growth data will shape the pace of any future rate moves. Investors and businesses will watch the incoming chair's early signals carefully.
Venezuela's earthquake death toll has reached 1,430 with the US Geological Survey warning fatalities could top 10,000, placing it among Latin America's deadliest in a century. US military planes are landing in Caracas, Washington is mobilising $150 million in aid, and rescue teams from 17 countries are on the ground.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
