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Food stamps, the bulwark against hunger for over 40 mn Americans
Food stamps, the bulwark against hunger for over 40 mn Americans
Economy
by  AFP

The ongoing budget deadlock in the United States is threatening food security of around 42 million Americans who receive food stamps at the start of each month to help get by. Today, around one-in-eight Americans receive SNAP benefits each month based on income, according to the Department of Agriculture.

US Fed official backed rate pause because inflation 'too high'
US Fed official backed rate pause because inflation 'too high'
Economy
by  AFP

A senior member of the US Federal Reserve on Friday said he voted against cutting interest rates this week because inflation was "too high" for comfort. Among the 10-2 majority voting for a quarter-point cut this week was Fed governor Christopher Waller, a Trump nominee who is on the five-person shortlist to take over from Powell when he steps down as Fed chair next May.

Swiss central bank profits boosted by gold price surge
Swiss central bank profits boosted by gold price surge
Economy
by  AFP

Switzerland's central bank on Friday reported a profit of 12.6 billion Swiss francs ($15.7 billion) for the first nine months of 2025, boosted by soaring gold prices and rising stock markets. To diversify its reserves, the Swiss central bank's equity portfolio uses a passive strategy that reflects stock market indices rather than picking stocks out to generate profits.