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It’s Reasonable to Consider Rate Cut Next Month, Fed’s Kashkari Says

(Bloomberg) -- Federal Reserve Bank of Minneapolis President Neel Kashkari said it is still appropriate to consider another interest-rate cut at the central bank’s December meeting.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion Pledge“It’s still a reasonable conside

Damian Williams, Manhattan's top federal prosecutor, to resign ahead of Trump inauguration

NEW YORK (Reuters) -Damian Williams, the top federal prosecutor in Manhattan who secured convictions of high-profile defendants including U.S. Senator Bob Menendez and crypto mogul Sam Bankman-Fried, announced on Monday that he will resign ahead of Donald Trump's return to the presidency. Williams, who was appointed to the post in 2021 by outgoing Democratic President Joe Biden, will step down on Dec. 13 ahead of the Republican Trump's Jan. 20 inauguration. Edward Kim, his current deputy, will succeed Williams on an acting basis as U.S. attorney for the Southern District of New York.

Oil falls more than $2 a barrel on possible Middle East peace deal

HOUSTON (Reuters) -Oil prices fell more than $2 a barrel on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict, citing unnamed senior U.S. officials. Israel said on Monday it is moving toward a ceasefire in the war with Hezbollah but there are still issues to address, while Lebanese officials voiced guarded optimism but said Israeli Prime Minister Benjamin Netanyahu was not to be trusted. "It seems the news of a ceasefire between Israel and Lebanon is behind the price drop, though no supply has been disrupted due to the conflict between the two countries and the risk premium in oil has been low already before the latest price decline," said Giovanni Staunovo of UBS.

Oil Drops as Israel Moves Closer to Cease-Fire With Hezbollah

(Bloomberg) -- Oil dropped as light pre-holiday trading exacerbated signs of diminishing risks from the conflict in the Middle East.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets Historic Push for 80,000 Homes With $5 Billion PledgeWest Texas Intermediate shed 3.2% to settle below $69 a barrel. The Israeli ambas

Citi’s strategists say Fed should pause, opposing its economists

(Bloomberg) -- Interest-rate strategists at Citigroup Inc. say the Federal Reserve should pause its interest-rate cuts, further isolating the bank’s economists, who’ve stuck with a call for a half-point move in December long after others on Wall Street abandoned it. Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Underground Steam System May Be Key to a Greener FutureNYC Gets