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US Fed FOMC Meeting Live Updates: The US Federal Reserve is set to announce its policy decision on Wednesday, September 17 (local time), which is most likely to be its first rate cut this year. The same is set to come at the back of a weakening labour market, stubborn inflation and US President Donald Trump's push for lower borrowing costs. Earlier this week, Trump even predicted a "big cut" from the US Fed. "I think you have a big cut. It's perfect for cutting," he told reporters on Sunday. The US dollar approached its lowest level since March 2022 ahead of the US Fed decision. The US job growth cooled in August with the unemployment rate increasing to its highest level since 2021. Meanwhile, inflation in the US remains above the Fed's 2% goal and could increase further if the tariffs push costs up.
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CNBC TV18•12-01-2026, 15:36

Dow Futures Plunge After Jerome Powell Reveals Criminal Investigation

  • •Dow futures dropped over 350 points, S&P 500 futures fell 55 points, and Nasdaq futures were down 275 points.
  • •Federal Reserve Chair Jerome Powell announced he is under criminal investigation via a video message on 'X'.
  • •The probe stems from grand jury subpoenas issued by the Department of Justice regarding his Senate Banking Committee testimony.
  • •Powell stated the investigation is an 'unprecedented action' related to the administration's pressure on the Fed's interest rate decisions.
  • •The New York Times reported the US Attorney's office for the District of Columbia, led by Jeanine Pirro (appointed by Trump), is overseeing the probe.

Why It Matters: Jerome Powell's criminal investigation announcement caused a significant drop in Wall Street futures.

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