Fed's Miran: The economy calls for large interest rate cuts

A U.S. official told ABC News on Tuesday that a Ukrainian delegation has agreed with the United States on the terms of a potential peace deal. United States Army Secretary Dan Driscoll held secret talks on Monday with a Russian delegation in Abu Dhabi in the United Arab Emirates to follow up on this weekend’s talks with Ukraine in Geneva that were intended to move the Ukraine peace process forward, a U.S. official told ABC News. "The Ukrainians have agreed to the peace deal," the U.S. official said. "There are some minor details to be sorted out but they have agreed to a peace deal." The previously undisclosed talks with the Russian delegation on Monday follow the talks held in Geneva this past weekend between the U.S. and Ukraine and are the latest indication that the new U.S. initiative to restart the peace process in Ukraine is moving forward. 19-POINT UKRAINE PLAN NO LONGER CONTAINS AMNESTY POINT: ABC NEWS

U.S. TREASURY SECRETARY BESSENT ON CHINA TRADE: CHINESE ARE RIGHT ON SCHEDULE FOR SOYBEAN PURCHASES -CNBC US Treasury Secretary Bessent: US position on Taiwan is unchanged. BESSENT: XI, TRUMP AGREED PEACE IN UKRAINE MUST MOVE FORWARD BESSENT ON U.S., CHINA: WE'RE ALWAYS GOING TO BE NATURAL RIVALS BESSENT ON U.S., CHINA: RELATIONSHIP IN GOOD PLACE

BESSENT: VERY GOOD CHANCE TRUMP WILL ANNOUNCE FED CHAIR BEFORE CHRISTMAS -CNBC *BESSENT: TRUMP WAS JOKING WHEN HE SAID HE MIGHT FIRE ME ON FED BESSENT SAYS FED SHOULD MOVE BACK INTO THE BACKGROUND LIKE OLD DAYS US Treasury Secretary Bessent: The 'Ample reserves regime' might be fraying - CNBC. Bessent says there’s a ‘very good chance’ Trump names new Fed chair before Christmas Treasury Secretary Scott Bessent said Tuesday he expects President Donald Trump to make a decision on the new Federal Reserve chair by the holiday season. In a CNBC interview, Bessent, who has been heading the search for a successor to current Chair Jerome Powell, said he still has one interview to go and was not ready to speculate on who might get the job. “I think there’s a very good chance that the president will make an announcement before Christmas,” he said. “But it’s his prerogative, whether It’s the before the Christmas holidays or in the new year. But I think things are moving along very well.”

US ADP EMPLOYMENT CHANGE WEEKLY ACTUAL: -13.5K VS -2.50K PREVIOUS A silver twist on the gig economy For the four weeks ending Nov. 8, 2025, private employers shed an average of 13,500 jobs a week. Consumer strength remains in question as we enter the holiday hiring season, which might be playing into delayed or curtailed job creation. These numbers are preliminary and could change as new data is added. The federal government’s delayed September employment report, released last week, showed that the economy added 119,000 jobs that month, better than economists had predicted. But for self-employed workers, the news wasn’t as good. The gig economy lost 114,000 jobs that month. In fact, the ranks of self-employed workers have been declining all year. As of September, U.S. gig employment was down 1.2 percent from a year ago. A new ADP Research report suggests that structural demographic change is on track to reverse this short-term downward trend. We believe that self-employment is poised to become an important share of job gains over time. The latest ADP NER Pulse data points to a concerning shift in the U.S. labor market, with private payrolls dropping by 13,500 jobs per week for the four-week period ending November 8, 2025. This marks a significant acceleration from the prior period, where only 2,500 jobs were… Private payroll losses accelerated in the past four weeks, ADP reports The U.S. labor market is showing further signs of weakening as the pace of layoffs has picked up over the past four weeks, payrolls processing firm ADP reported Tuesday. Private companies lost an average of 13,500 jobs a week over the past four weeks, ADP said as part of a running update it has been providing. That’s an acceleration from the 2,500 jobs a week lost in the last update a week ago. With the government shutdown still impacting data releases, alternative data like ADP’s has been filling in the blanks on the economic picture. Government agencies such as the Bureaus of Labor Statistics and Economic Analysis have released revised schedules, but critical reports such as the monthly nonfarm payrolls count won’t come out until December.