Table of Contents

• Fed Rate Cut

• Google

Top Stories Today

Economy & Finance

Fed Rate Cut

The Federal Reserve cut its interest rates by half a percentage point, marking its first reduction since the early days of the pandemic. This move lowers the federal funds rate to a range of 4.75%-5% in an effort to address concerns about a slowdown in the labor market and softening inflation. The Fed's decision came after recent shifts in market expectations, with a larger cut being anticipated. The committee also signaled additional cuts later this year. Chair Jerome Powell emphasized the Fed's goal to balance price stability and employment without significantly increasing unemployment.

Technology

Google

The European Union's second-highest court overturned a 1.5 billion euro fine imposed on Google by EU regulators in 2019. The case was related to allegations that Google abused its dominance through AdSense for Search by restricting third-party websites from displaying competitors' ads. Although the court upheld many of the European Commission’s findings, it annulled the fine, citing that the commission failed to consider all relevant aspects of the contract duration in its ruling. Google welcomed the decision, while the EU may consider appealing to the European Court of Justice.

Thanks for reading, subscribe to The Standard Lens for more.