FT News Briefing The Fed’s first rate cut in 4 years
Sep 19, 2024
The Federal Reserve has embarked on its first interest rate cut in four years, strategizing to prevent economic downturns amid signs of cooling demand. Meanwhile, the UK regulator is pushing banks to enhance deposit rates as easing begins. The podcast also highlights Lebanon’s explosive pager incidents linked to Hezbollah's shift towards outdated communication methods to evade surveillance, paralleling a cocoa shortage affecting chocolate quality in the UK.
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Fed Rate Cut
- The Federal Reserve cut interest rates by half a percentage point, its first cut in four years.
- This significant cut aims to prevent future economic weakness rather than address current issues.
FCA Protects Savers
- The UK's Financial Conduct Authority (FCA) is pushing banks to offer better interest rates on savings accounts.
- The FCA may fine banks if they cut savings rates too quickly following the drop in interest rates.
Hezbollah's Exploding Tech
- Exploding pagers and walkie-talkies in Lebanon have revealed Hezbollah's vulnerability.
- It seems Israel may have intercepted and tampered with the devices, highlighting Hezbollah's reliance on outdated tech.