JPMorgan's 'dystopian' new headquarters brutally mocked online: 'This is the stuff of horror movies'

Available indicators suggest that economic activity has been expanding at a moderate pace. Job gains have slowed this year, and the unemployment rate has edged up but remained low through August; more recent indicators are consistent with these developments. Inflation has moved up since earlier in the year and remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment rose in recent months. In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent. In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee decided to conclude the reduction of its aggregate securities holdings on December 1. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Susan M. Collins; Lisa D. Cook; Austan D. Goolsbee; Philip N. Jefferson; Alberto G. Musalem; and Christopher J. Waller. Voting against this action were Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 1/2 percentage point at this meeting, and Jeffrey R. Schmid, who preferred no change to the target range for the federal funds rate at this meeting. FOMC STATEMENT COMPARE: pic.twitter.com/1xW7cnChGP *FED CUTS TARGET RANGE FOR BENCHMARK RATE BY 25 BPS, TO 3.75%-4% *FED SAYS IT WILL STOP SHRINKING BALANCE SHEET ON DEC. 1 *FED SAYS SCHMID DISSENTED IN FAVOR OF NO RATE CHANGE *FED SAYS MIRAN DISSENTED IN FAVOR OF HALF-POINT CUT

Crypto tycoon Changpeng “CZ” Zhao is weighing a libel suit against Trump-hating Democratic Sen. Elizabeth Warren of Massachusetts over a social-media posting that allegedly defamed him over the reasons behind his 2023 plea deal and subsequent jail term, The Post has learned. Zhao’s prosecution over violations of the Bank Secrecy Act led President Trump to ...

Friday, October 10 was a forgettable day all the way around for risk assets. Those included cryptocurrency and crypto-related equities. The CoinShares Valkyrie Bitcoin Miners ETF (WGMI) wasn’t immune to the broader market pullback. But give the ETF some credit. Some of its holdings managed to cobble together modest gains on the day. And the tariff-induced ...