US Federal Reserve cuts interest rates for the third straight time

The US Federal Reserve has lowered its benchmark rate by a quarter percentage point, to a range of 3.5% - 3.75%, but signalled there will be fewer cuts going forward amid a cooling labour market and persistently high inflation. The vote was not unanimous, with two calling for keeping rates unchanged, and Trump ally Stephen Miran wanting a larger cut.  Also in the segment, the United Arab Emirates is turning towards AI as part of a strategy at ensuring its future in a post-fossil-fuels world.