Fed Cuts Rates Again, But Warns: The Easy Money Is Over

The U.S. Federal Reserve has cut interest rates for the third time in a row. However, it signaled that future cuts will be less frequent. The central bank lowered its key rate by a quarter-point. It now sits between 3.5% and 3.75%. The decision was not unanimous. Two officials wanted no cut, while another argued for a larger reduction. The Fed faces a complex economic picture. The labor market is cooling, but inflation remains stubbornly high. Officials now suggest a more cautious approach ahead. In a separate development, the United Arab Emirates is betting on artificial intelligence (AI). The strategy aims to secure the nation's economy for a future less dependent on oil and gas.