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Washington CNN  —  It’s still too soon for the Federal Reserve to consider lowering interest rates, Chair Jerome Powell said Tuesday. “Policy changes continue to evolve, and their effects on the economy remain uncertain,” Powell said in his prepared testimony for his semiannual monetary policy report to Congress. “For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.” Powell’s latest comments come as some Fed officials have joined President Donald Trump in calling for lower borrowing costs. The Fed leader said Trump’s…

A Rolls-Royce Spectre all electric luxury coupe is displayed at Rolls-Royce Motor Cars dealership showroom in London.John Keeble | Getty Images News | Getty ImagesRepublicans are trying to make good on President Donald Trump’s campaign promise to give Americans a tax break on their car loan interest. However, as structured, most households wouldn’t get a substantial financial benefit, economists said.House and Senate Republicans proposed giving drivers a tax deduction of up to $10,000 on annual interest for new auto loans in their so-called “One Big Beautiful Bill Act.” The tax break would be temporary, ending after 2028.But few drivers pay…

Jerome Powell, chairman of the US Federal Reserve, departs following a news conference following a … More Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, June 18, 2025. Federal Reserve officials left interest rates unchanged and continued to pencil in two rate cuts in 2025, saying uncertainty over the economic outlook was still high but had diminished. Photographer: Kent Nishimura/Bloomberg© 2025 Bloomberg Finance LP The Federal Market Open Market Committee expects interest rates to move down in 2025. Fixed income markets see two cuts as the most likely outcome, taking rates to 3.75% to 4% by…

COLOMBO: Pakistan’s snooker campaign at the Asian 6-Red and Team Snooker Championship surged forward on Monday as all three cueists — Awaisullah Munir, seasoned campaigner Mohammad Asif and the consistent Mohammad Sajjad — secured their passage to the pre-quarterfinals following the conclusion of their group stage. Defending champion Awaisullah solidified his position by completing a perfect group stage run, securing his third consecutive victory. He faced a determined challenge from India’s Pushpender Singh but emerged with a convincing 4-2 [1-51(37), 47(34)-0, 66-0, 10-46, 34-21, 33-21] win. Singh started strongly, taking the first frame with a 37 break. Awaisullah responded emphatically,…

LAHORE: Pakistan hockey captain Ammad Butt has called the silver medal in the FIH Nations Cup — following a 6–2 loss to New Zealand in the June 21 final in Kuala Lumpur — a promising step forward for national hockey. The tournament, held at the National Hockey Stadium, saw Pakistan reach their first major final in 11 years, a revival since their last appearance in the 2014 Champions Trophy final in Bhubaneswar. “It’s been 11 years since we played a final on the big stage,” Ammad said at Allama Iqbal International Airport on Sunday night, after returning from Malaysia. “While…

The Strait of Hormuz waterway between the Persian Gulf and Gulf of Oman. It is a very strategically … More important shipping choke point with Iran to the north and UAE and Oman exclave Musandam to the south. It is the only sea passage from the Persian Gulf to the open ocean.getty The U.S. entered the Israel-Iran conflict early on Sunday by bombing of Iran’s nuclear facilities in support of Israel. The move has again prompted calls within Iran for a retaliation involving a shutdown of the Strait of Hormuz, a key maritime artery for oil and gas shipments from…

Jerome Powell, chairman of the US Federal Reserve, departs following a news conference following a … More Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, June 18, 2025. Federal Reserve officials left interest rates unchanged and continued to pencil in two rate cuts in 2025, saying uncertainty over the economic outlook was still high but had diminished. Photographer: Kent Nishimura/Bloomberg© 2025 Bloomberg Finance LP The Federal Market Open Market Committee expects interest rates to move down in 2025. Fixed income markets see two cuts as the most likely outcome, taking rates to 3.75% to 4% by…

The Strait of Hormuz waterway between the Persian Gulf and Gulf of Oman. It is a very strategically … More important shipping choke point with Iran to the north and UAE and Oman exclave Musandam to the south. It is the only sea passage from the Persian Gulf to the open ocean.getty The U.S. entered the Israel-Iran conflict early on Sunday by bombing of Iran’s nuclear facilities in support of Israel. The move has again prompted calls within Iran for a retaliation involving a shutdown of the Strait of Hormuz, a key maritime artery for oil and gas shipments from…

CNN  —  How well — or how poorly — Americans are managing their Buy Now, Pay Later loans soon could be reflected in their credit scores. FICO plans to launch a suite of credit scores later this year that incorporate BNPL data, providing lenders a window into what’s been a big blind spot: consumers’ repayment behavior on these increasingly popular installment loans. BNPL loans can serve as an alternative to credit cards and are used by consumers who are seeking more flexible payment options, who want to overcome a tight financial spot, or who are looking to smooth out some…

A stack of 250$ and 1000$ dollar bills, US, 1987. (Photo by Alfred Gescheidt/Getty Images)Getty Images U.S. financial markets are calm now, with stocks rallying in the past two months and bond yields stabilizing following a 90-day reprieve in tariffs that expires on July 8. However, the U.S. dollar is more precarious, as it sank to its lowest level in three years last Thursday, according to the Financial Times. The dollar’s weakening occurred after President Donald Trump told reporters he would send letters to trading partners outlining new tariff rates in the next few weeks. This occurred as investors were…