Fed rate decision October 2025

The Federal Reserve on Wednesday approved its second straight interest rate cut, though Chair Jerome Powell rattled markets when he threw doubt on whether another reduction is coming in December. By a 10-2 vote, the central bank’s Federal Open Market Committee lowered its benchmark overnight borrowing rate to a range of 3.75%-4%. In addition to…

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GM cuts thousands of EV and battery factory workers

General Motors is laying off thousands of workers at several electric vehicle and battery plants in the US. According To multiple shops, About 1,200 workers at the company’s EV factory in Detroit, Michigan are being placed on “indefinite layoff.” Further cutbacks and temporary layoffs are being made at GM’s Ultium cell battery factories in Ohio…

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