logo
Federal Reserve Keeps Rates Steady at 4.25%-4.5%

Federal Reserve Keeps Rates Steady at 4.25%-4.5%

Taarek Refaat
The US Federal Reserve held interest rates at their target range of 4.25% to 4.5% at the conclusion of its meeting on Wednesday, amid growing concerns about a slowing economy and the return of inflationary pressures.
The US central bank is proceeding steadily, facing uncertainty over President Donald Trump's tariffs, an economy showing some signs of resilience—for example, April's payrolls—and a weak economy—such as the latest GDP report, according to CNBC.
The Fed's decision to hold interest rates steady came amid concerns about the impact of President Trump's trade war on inflation, which the central bank has been combating for the past two years.
Traders are listening closely to Federal Reserve Chairman Jerome Powell's speech, hoping he will shed more light on whether and when the central bank will cut interest rates. The Federal Reserve has held interest rates on hold since its last cut in December, pending an assessment of the impact of the tariffs.
Fed officials face a difficult task in determining how the economy will respond to Trump's economic policies, as analysts point to high inflation and weak growth this year—a dangerous combination akin to stagflation.
Over the past two years, the Fed has adopted a tight monetary policy to control inflation, which peaked at 9.1 percent in June 2022, its highest level in four decades. Between March 2022 and July 2023, the Fed raised interest rates by more than 5 percentage points, in one of the fastest monetary tightening cycles in modern history.
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
News
Egypt confirms denial of airspace access to US B-52 bombers
Lifestyle
Pistachio and Raspberry Cheesecake Domes Recipe
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
News
Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content
Arts & Culture
Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Videos & Features
Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO)
Sports
Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
News
Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies
Arts & Culture
New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egyptian FM Praises Egyptian Community in Senegal for Strengthening Bilateral Ties
Egyptian FM Praises Egyptian Community in Senegal for Strengthening Bilateral Ties

See - Sada Elbalad

time7 hours ago

  • See - Sada Elbalad

Egyptian FM Praises Egyptian Community in Senegal for Strengthening Bilateral Ties

Taarek Refaat Egypt's Minister of Foreign Affairs and Immigration, Badr Abdel Aaty, lauded the Egyptian community in Senegal on Friday for their vital role in deepening ties between the two nations and for their active contributions to Senegalese society across various sectors. Speaking during a meeting with members of the Egyptian diaspora in Dakar as part of his official visit to the West African nation, Abdel Aaty commended the community's efforts in fostering bilateral cooperation and enhancing Egypt's presence in the region. The minister highlighted Egypt's ongoing commitment to modernizing its consular services and embracing digital transformation. He revealed that the Ministry of Foreign Affairs and Immigration is currently upgrading the technological infrastructure in embassies and consulates, aiming to deliver more efficient, user-friendly services through advanced online platforms. As part of these efforts, Abdel Aaty announced the launch of a new mechanism to accelerate the issuance of computerized birth certificates and highlighted a cooperation protocol recently signed with the National Postal Authority. The agreement aims to decentralize document authentication services by offering them through local post offices, especially in underserved and remote areas, to reduce congestion and simplify procedures. The minister also presented several initiatives the Egyptian government has introduced to support its expatriate population. These include the "Import Your Car" initiative, the military service settlement program, and the 'Your Home in Egypt' project in cooperation with the Ministry of Housing, which allocates ready-to-move-in residential units to Egyptians living abroad. Additionally, he underscored the ongoing collaboration with the Central Bank of Egypt to help expats open domestic bank accounts, thereby broadening their access to investment and financial services within their homeland. Abdel Aaty reiterated the ministry's dedication to maintaining open communication with Egyptian communities around the world. He confirmed that preparations are underway for the sixth edition of the Egyptians Abroad Conference, scheduled for August 3–4, 2025. The event will serve as a key platform for dialogue between diaspora members and senior Egyptian officials. 'This conference is essential in shaping policies that reflect the aspirations of Egyptians living overseas,' he said, emphasizing the importance of incorporating their perspectives into national development strategies. During the meeting, the minister welcomed questions and suggestions from community members, assuring them that the ministry is attentive to the challenges they face and is working closely with relevant authorities to address them. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

Chaos at Israel's Ben Gurion Airport amid Unofficial Ground Staff Strike
Chaos at Israel's Ben Gurion Airport amid Unofficial Ground Staff Strike

See - Sada Elbalad

time8 hours ago

  • See - Sada Elbalad

Chaos at Israel's Ben Gurion Airport amid Unofficial Ground Staff Strike

Taarek Refaat Israel's main international gateway, Ben Gurion Airport, descended into disorder Friday morning as numerous flights were delayed due to what has been described as an unofficial strike by ground services personnel. The disruption has sparked widespread confusion and frustration among travelers, particularly at the height of the busy summer travel season. According to reports by Israeli daily Yedioth Ahronoth, passengers were informed by pilots that the delays were caused by a so-called "Italian strike", a form of protest where employees perform only the bare minimum required by their contracts. In this case, baggage was deliberately left unloaded, delaying aircraft departures. Despite mounting reports of disruption, the Israel Airports Authority denied the existence of any official labor strike. In a brief statement, it attributed the delays to "heavy traffic congestion" within the airport but provided no further details. However, Israel's Channel 12 quoted internal airport sources confirming a 'crippling crisis' triggered by protest actions from disgruntled ground staff. These employees are reportedly demanding better wages and immediate recruitment to address severe staffing shortages, issues exacerbated by the surge in air travel during the peak summer period. Ben Gurion Airport, the country's primary air travel hub, has long operated under heightened security constraints. That backdrop has intensified concerns, with aviation analysts warning that even minor logistical disruptions could have outsized ripple effects on flight schedules and traveler safety. Officials fear that unless the demands of airport workers are addressed promptly, the crisis could escalate. Dozens of flights have already been affected, with delays expected to continue into Friday evening. Passengers are advised to check their flight statuses before heading to the airport and to prepare for potential schedule changes. The Israeli aviation industry has only recently rebounded to pre-pandemic levels. The emerging labor unrest now poses a significant threat to the stability of air operations during what is traditionally one of the busiest travel periods of the year. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

Real Madrid's Contract Talks with Vinícius Jr. Hit New Stalemate
Real Madrid's Contract Talks with Vinícius Jr. Hit New Stalemate

See - Sada Elbalad

time9 hours ago

  • See - Sada Elbalad

Real Madrid's Contract Talks with Vinícius Jr. Hit New Stalemate

Rana Atef On Friday, media reports provided a new update about the situation of Brazilian star Vinicius Jr. and Real Madrid, as the negotiations between both sides are still in progress. Earlier in the summer, it was reported that Vinicius has a verbal agreement with Los Blancos over a new deal which is expected to be a long-term one. However, a recent report from Cadena SER has highlighted that there are several disagreements between Real Madrid and Vinicius. As per the report, Vinicius' key demand was to be equated with Kylian Mbappe in terms of salary, which is rejected by the club. Real Madrid's refusal caused a stalemate in negotiations, as the club didn't plan to offer Vinicius such a huge salary. If no agreement is reached between the two clubs this summer, Real Madrid could be open to selling the Brazilian international, especially with Saudi Arabia proposing an offer worth €200 million. read more Japan Stun Spain 2-1 to Qualify for World Cup Last 16 World Cup 2022: Get to Know Confirmed Line-ups of Japan and Spain Group E Decider Saudi Arabia Bid Farewell to World Cup after 2-1 Loss to Mexico Tunisia Achieve Historic Win over France but Fail to Qualify Tunisia to Clash against France in World Cup Sports Get to Know Squad of Group D Teams in World Cup Sports Al Ahly Gift EGP 70,000 to Players After Claiming Egyptian Super Cup Title Sports Bencharki Hits First 2 Goals with Al Jazira Since Leaving Zamalek Sports Arsenal Possible Line-up for Nottingham Forest News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store