The U.S. Federal Reserve announced a 25‑basis‑point increase in the federal funds rate on Wednesday, taking the benchmark to 5.25% as inflation remains above the central bank’s 2% target. Chair Jerome Powell cited “persistent price pressures in core services” and warned that further hikes may be necessary to anchor expectations. In a parallel development, the European Union’s Council of Ministers voted to extend an associate‑membership status to Canada, recognizing its alignment with EU standards on trade, climate policy, and digital regulation. The proposal, now awaiting ratification by the European Parliament, could deepen trans‑Atlantic economic ties and pave the way for joint research initiatives.
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