Fed Slashes Rates Again

??8th November 2024 | Trump’s Trade War Threat Shakes Supply Chain, Saudi Arabia Experiences Historic Snowfall, Apple Expands High Power Mode to M4 Pro Models, Lamar Jackson Leads Ravens to AFC North Victory, 1 in 25 US Households Harbor Undocumented Immigrants, Judge Rules Biden’s Immigration Program Illegal, and more!

Business and Economy

?? Fed Cuts Interest Rates by 0.25% in 2024's Second Move

The Federal Reserve lowered its benchmark interest rate by 0.25 percentage points to 4.5%–4.75% on November 7, 2024, marking its second cut of the year amid cooling inflation. This follows President-elect Donald Trump’s re-election, with voters voicing concerns about inflation. Federal Reserve Chair Jerome Powell stated, "Inflation has made progress toward the Committee’s 2% objective but remains somewhat elevated."?

??? Powell: No Resignation as Fed Chief If Trump Requests

Federal Reserve Chair Jerome Powell stated Thursday that he would not resign if President-elect Donald Trump asked him to. Powell explained that Trump has no legal authority to fire or demote him. Despite their past tensions over monetary policy, Powell emphasized that Trump’s election victory will not affect the Fed’s near-term policies. He stated, “Not permitted under the law.”

?? Trump’s Trade War Threat Shakes Supply Chain, Importers Rush Orders

President-elect Donald Trump’s vow to impose 10%-20% tariffs on imports and 60%-100% on Chinese goods has triggered a scramble to "front-load" shipments. Retailers and manufacturers are rushing to bring in goods early, increasing container demand and freight rates. Paul Brashier, VP of ITS Logistics stated, "The calls expand beyond shippers who have Chinese imports."

World

?? Saudi Arabia Experiences Historic Snowfall

Saudi Arabia’s Al-Jawf region made history with its first-ever snowfall this week, following heavy rains and hail. The event, which could boost spring growth, shocked many as it created waterfalls. While Tabuk regularly experiences snow, Al-Jawf was unexpected. The Saudi weather department issued warnings for severe conditions. Dr. Khalid Al-Jabri, Saudi Meteorologist stated, "This rare weather event marks a new chapter in our climate patterns."

???? Zelensky Stands Firm, Refuses Russian Concessions

Ukrainian President Volodymyr Zelensky rejected European pressure to make concessions to Russia, calling it "unacceptable" for Ukraine and Europe. At a summit in Hungary, he criticized calls for compromises, particularly Russia's demands to cede territory. He dismissed Hungarian PM Orban’s ceasefire suggestion and emphasized Ukraine’s need for military support, not negotiations, stating, "Hugs with Putin won’t help."?

?? Xi Jinping to Trump: US Will 'Lose' in Trade War with China

Chinese President Xi Jinping cautioned President-elect Trump that escalating tensions with China would ultimately harm the U.S., urging that "cooperation" benefits both nations while "confrontation" leads to losses. As Trump plans to reintroduce tariffs, Xi emphasized the importance of stable relations. China’s foreign ministry stated, “History shows both countries gain from cooperation and lose from confrontation.”?

Science and Tech

? Apple Brings High Power Mode to M4 Pro MacBook Pro & Mac Mini

Apple has expanded its High Power Mode to 14-inch and 16-inch MacBook Pro models and the Mac mini with the M4 Pro chip enhancing performance by increasing fan speeds for better cooling, allowing for higher graphics performance in tasks like 8K video color grading. While performance gains are minimal in short tests, benefits may emerge with extended use. It can be activated through macOS System Settings.?

?? Google May Add AI Replies to Call Screening Feature

Google could soon enhance its Phone app's call-screening feature with AI-powered replies, as suggested by a code line discovered by 9to5Google. The update would enable smart responses based on how a person interacts with the call screen. This builds on previous updates, like contextual replies and silent responses, to create more tailored and efficient call interactions.

Sports and Entertainment

?? 3 Arrested in Liam Payne's Death Case

Three people were arrested and charged following Liam Payne's death on Oct. 16, after falling from a Buenos Aires hotel balcony. They face charges of abandonment leading to death and drug supply. Toxicology reports revealed alcohol, cocaine, and prescription drugs in his system. Prosecutor Andrés Madrea stated, "Thorough actions were taken to clarify the circumstances of the artist's death."

?? Lamar Jackson Leads Ravens to AFC North Victory Over Bengals

Lamar Jackson led the Ravens to a 35-34 win over the Bengals, throwing a 5-yard touchdown to Rashod Bateman with 1:49 remaining. Jackson, overcoming a rough start, passed for 219 yards and three touchdowns. The Ravens' defense held firm, stopping Joe Burrow’s 2-point conversion.Jackson stated, "It was another classic Lamar moment."?

?? Zach Bryan 'Ruined' Golden Globes for Ex Brianna LaPaglia Over Her Dress

Brianna "Chickenfry" LaPaglia shared on the BFFs podcast how her ex, Zach Bryan, allegedly impacted her 2024 Golden Globes experience. She claimed Bryan attempted to control her dress and social media presence, expressing disapproval of her outfit and unfollowing her. LaPaglia described the emotional toll, stating, "He ensured that anything good I did for myself, he ruined."?

Misc

??? Trump Appoints Susie Wiles as White House Chief of Staff

President-elect Donald Trump appointed Susie Wiles, 67, as his White House chief of staff, the first woman to hold the position. A seasoned political strategist, Wiles played a key role in Trump’s 2016 and 2020 campaigns, particularly in Florida. Praised by Trump and GOP leaders, including Rick Scott, she received widespread support with Scott stating, "She is the perfect person for this role."

?????? 1 in 25 Households Harbor Undocumented Individuals

Out of 130 million U.S. households, around 5.6 million (1 in 25) include undocumented immigrants. Trump's commitment to mass deportations could disrupt millions of mixed-status families, some of which have deep ties to the country. Professor Leisy Abrego stated, "This opens the door to so much suffering and fear."

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???? Judge Rules Biden’s Immigration Program for U.S. Citizen Spouses Illegal?

U.S. District Judge J. Campbell Barker declared Biden’s “Keeping Families Together” program illegal, asserting it exceeded federal authority. The program was designed to allow undocumented immigrants married to U.S. citizens to obtain green cards without leaving the country. Texas and other GOP-led states argued it conflicted with immigration laws. Judge Barker stated, “The administration cannot rewrite immigration laws.”

This Day That Year

On November 8th, 1972, HBO, the American cable television company, officially debuted by airing the 1971 film Sometimes a Great Notion, starring Paul Newman.

Have a great day and see you on Monday??