Briefly

UNITED STATES

Fed holds rates steady, hints at 3 cuts in 2024

The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting but policymakers signaled they expect to make three rate cuts next year. The Fed's decision to keep its key lending rate between 5.25 percent and 5.50 percent lets policymakers determine "the extent of any additional policy firming that may be appropriate", the US central bank said in a statement. On inflation, the central bank is "making real progress", but "we still have a ways to go," Fed Chair Jerome Powell said at a news conference on Wednesday.

Tesla to recall over 2m cars to fix tech glitch

Tesla is recalling nearly all vehicles sold in the US, over 2 million, to update software and fix a defective system that's supposed to ensure drivers are paying attention when using Autopilot. Documents posted on Wednesday by US safety regulators say the update will increase warnings to drivers and even limit the areas where basic versions of Autopilot can operate. The National Highway Traffic Safety Administration opened its 2021 probe of Autopilot after identifying several crashes in which Tesla vehicles hit stationary emergency vehicles.

Xinhua - China Daily