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(Reuters) -Consultancy firm Accenture said on Thursday the Trump administration's efforts to reduce federal spending have led to delays and cancellations of new contracts, sending the company's shares down more than 6%. The new U.S. administration and its Department of Government Efficiency (DOGE), led by billionaire Elon Musk, have been implementing measures to slash spending and reduce the size of the federal workforce. Accenture said its federal services unit is facing a slowdown as the U.S. General Services Administration instructed all federal agencies to review their contracts with consulting firms and cancel contracts that are not essential.

(Reuters) -U.S. stock indexes recouped some of the early losses on Thursday, as investors digested the Federal Reserve outlook on interest rates amid persistent tariff worries. Traders looked to build on the previous session's gains after a massive sell-off in recent weeks due to the uncertainty tied to President Donald Trump's trade policies. The Fed maintained current interest rates on Wednesday as expected and reaffirmed its forecast for two 25 basis point reductions by the end of year.

Powell takes lessons from the pandemic and the vibecession in waiting for clarity.

The Federal Reserve kept interest rates unchanged on Wednesday, holding the benchmark rate between 4.25% and 4.50%.

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Donald Trump has piled pressure on the US Federal Reserve to cut interest rates as he tries to soften the blow from his own tariffs.

The Bank of England kept its main U.K. interest rate unchanged at 4.50% on Thursday even though the economy is barely growing and the nation faces more uncertainty in light of the tariff policies being enacted by the Trump administration in the U.S. The decision by the nine-member Monetary Policy Committee was widely expected, and comes a day after the U.S. Federal Reserve also kept interest rates unchanged. Minutes from the meeting showed that eight members voted to keep policy unchanged, with one backing a quarter-point reduction.