The Federal Reserve lowered interest rates by another quarter of a percentage point on Wednesday, marking its second consecutive cut as officials continue to prioritize concerns over employment rather than inflation.
The move, widely anticipated by markets, brings the benchmark rate down to a new target range of 3.75% to 4%, the first time since 2022 that the central bank’s rate has fallen below 4%.
Inside the Fed, opinions were sharply divided. Some policymakers urged restraint, arguing that President Trump’s tariff policies could reignite inflation. Others countered that any price increases would be temporary, and that deeper rate cuts were essential to boost hiring and prevent further softening in the labor market.
Stephen Miran, the newest member of the Federal Reserve Board and one of Trump’s trusted economic advisers, once again voted against the quarter-point reduction, repeating his call for a half-point cut instead.
Kansas City Fed President Jeffrey Schmid also dissented—though from the opposite side—preferring to keep rates unchanged out of concern that inflation could rebound.
The internal disagreements have unfolded as Trump continues to hammer Fed Chair Jerome Powell, whose term ends in 2026, accusing him of moving too slowly to ease monetary policy.
During remarks at a summit in South Korea, the president ridiculed the chairman by reviving one of his favorite nicknames: “Too Late Powell,” drawing laughter from a crowd of business executives.
The question now is how aggressively the Fed will proceed for the rest of the year. Earlier projections suggested rate cuts were likely in both October and December, but that outlook has been clouded by the ongoing government shutdown, which has disrupted key economic reporting.
Ordinarily, the Fed relies on data from agencies such as the Bureau of Labor Statistics and the Consumer Price Index. September’s CPI reading came in at 3%, a slightly better-than-expected figure that helped pave the way for this week’s rate cut.
However, with many federal agencies shuttered, data collection has been halted. Although a limited number of staffers returned to publish the September report, White House press secretary Karoline Leavitt cautioned that the shutdown would “likely result in no October inflation report.”
Disagreements over the pace and size of cuts have plagued the central bank for months. Miran was the lone opponent of September’s quarter-point reduction, arguing for a steeper half-point cut even then.
Earlier in the summer, Governors Michelle Bowman and Christopher Waller dissented from a decision to hold rates steady, instead pushing for a small cut to provide relief to a weakening labor market.
{Matzav.com}
Dear Matzav Inbox,
The upcoming Atzeres Tefillah in Eretz Yisrael has the potential to be a tremendous Kiddush Hashem — a gathering that proclaims to the world the supreme value of limud haTorah, the source of our life and the essence of our existence.(see Rabbeinu Yonah Shaarei Teshuvah 3:148)
But it is delicate. We must remember the message of our gedolim who have called for this gathering: that it be conducted b’darchei noam, with peace, dignity, and compliance with all authorities’ instructions.
Only when Torah and kedushah are accompanied by midos tovos, kavod habriyos, and derech eretz, can such an event truly be a Kiddush Hashem that inspires Klal Yisrael and elevates the world. This is always the only formula for Kiddush Hashem.
The Mesillas Yesharim (perek 11) says this powerfully:
במסילת ישרים (פי”א) כתב: “כי כפי רבות חשיבותו וחכמתו, כן ראוי שירבה זהירותו בדברי העבודה ודקדוקו בה, ואם איננו עושה כן הרי שם שמים מתחלל בו חס וחלילה. כי כבוד התורה הוא שמי שמרבה הלימוד בה ירבה כמו כן ביושר ובתיקון המדות. וכל מה שיחסר מזה למי שמרבה בלימוד גורם ביזיון ללימוד עצמו, וזה חס וחלילה חילול לשמו יתברך, שנתן לנו את תורתו הקדושה וצונו לעסוק בה להשיג על ידה שלמותנו”.
Our gedolim, past and present, have made it clear: any expression of pain or protest must be done with kavod, dignity, and menschlichkeit. We never sacrifice our tzurah as bnei Torah. Only peaceful and organized gatherings under the direction of daas Torah are appropriate.
Therefore, we must praise and promote demonstrations marked by shalom and kavod, and reject behavior that causes sinah and Chillul Hashem. Name-calling, spitting, or other disruptive behaviors harm the dignity of lomdei Torah and obscure the true message of Torah — which is one of rachamim and kavod.
Equally painful is the rhetoric that compares the imprisoned bachurim’s situation to that of the hostages in Gaza— comparisons that are deeply insensitive to others.
The Chillul Hashem that results from inappropriate conduct is not limited to the secular world; many sincere bnei Torah feel heartbroken and disillusioned when seeing such scenes. Can we ever compromise the midos of Hashem or the dignity of a ben Torah?
Our message must always be one of love, sensitivity, and compassion for all of Klal Yisrael — conveying that Torah is the greatest source of protection, closeness, and blessing. “We are here for you, we care for you, and we daven and learn for your good.”
(See the Netziv Haamek Davar, introduction to Bereishis and the Keren Orah on Tanis 20a)
Let us do whatever is in our hands to ensure that this Atzeres Tefillah uplift the kavod of Torah, unite Klal Yisrael, and bring nachas ruach to the Ribbono Shel Olam.
Rabbi Shraga Freedman
Email LivingKiddushHashem@gmail.com for a free file of Sefer Mekadshei Shemecha with a pesicha from Rav Matisyahu Salomon zt”l, who writes:
“כל כך נחוץ שכל אחד יתחזק בקידוש השם ובזהירות מחילול השם, והיא ממש חובת השעה”
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International Atomic Energy Agency (IAEA) Director General Rafael Grossi said Wednesday that Iran has not resumed enriching uranium since the outbreak of its war with Israel in June, though he confirmed that movements have been observed near facilities housing Iran’s 60% enriched uranium reserves.
In an interview with the Associated Press, Grossi noted that while the production itself remains halted, “activity was detected near the facilities where Iran’s 60% enriched uranium stocks are stored.” His remarks follow months of uncertainty over the state of Iran’s nuclear program following a series of Israeli and U.S. airstrikes.
Just weeks earlier, on October 18, Grossi told Switzerland’s Neue Zürcher Zeitung that most of the enriched uranium “remains in the nuclear facilities in Isfahan and Fordow, and some in Natanz.” These three sites were hit during Operation Rising Lion — the Israeli military offensive that triggered the short-lived conflict — and were later bombarded by U.S. forces using deep-penetration bunker-buster munitions.
Grossi confirmed that the targeted facilities sustained significant damage but emphasized that the uranium itself was largely unharmed. “The facilities were massively damaged,” he said, explaining that the stockpile survived the attacks relatively intact.
A confidential IAEA document leaked in September revealed that as of June, Tehran possessed about 440 kilograms of uranium enriched to 60%. Grossi now estimates that the figure has dropped to roughly 400 kilograms, suggesting some material may have been relocated or degraded after the strikes.
The agency chief stressed that Iran’s cooperation will determine what happens next. “Will we get access to this uranium? And what will happen to it then? Will Iran want to keep it, will it reduce its enrichment levels again, or will Iran move this uranium abroad?” Grossi told the Swiss daily, adding, “Sitting down together at the table saves us the danger of another round of bombing and attacks.”
Tehran cut off all contact with the IAEA immediately after the Israeli and American attacks, accusing the organization of sharing sensitive data with Western intelligence services. Relations were later restored under a limited arrangement granting inspectors access only when cleared by Iran’s security apparatus.
That fragile arrangement has now collapsed. Earlier this month, Iranian Foreign Minister Abbas Araghchi declared that the inspection agreement “is no longer valid,” blaming the decision on European nations’ decision to invoke the UN’s snapback sanctions mechanism.
{Matzav.com}
Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani reiterated his nation’s determination to uphold the ceasefire between Israel and Hamas, warning that recent flare-ups have placed the fragile truce under significant strain.
Speaking at the Council on Foreign Relations in New York, Al Thani opened his remarks by referencing Israel’s recent strike on Hamas leaders in Doha — an attack that he said occurred during ongoing mediation efforts. “The concept itself—to feel betrayed, that you are attacking a mediation while it’s ongoing—this has never been thought of,” he said.
The Qatari leader explained that the strike, which coincided with negotiations between Colombia and Rwanda-DRC being held nearby, resulted in the death of a Qatari citizen. He described the event as a “deep shock” to the region and said it has led Gulf Cooperation Council leaders to reconsider their security posture.
Al Thani said President Donald Trump assured Doha that such an incident would not happen again and promised that “necessary assurances would be put in place.” The prime minister noted that Qatar “never anticipated being targeted by a US ally,” calling the strike “a serious breach of trust.”
Turning to the ceasefire, Al Thani said the latest violations appeared to stem from a Palestinian faction, though there were contradictory reports about Hamas’s role. “Some statements mentioned that this group was out of communication, and others claimed they were unrelated to Hamas. It doesn’t matter who did what. What matters is ensuring this event doesn’t collapse the agreement,” he stated.
He stressed that the shared objective of all mediating powers—including the United States, Egypt, and Turkey—was to preserve the ceasefire and prevent another round of escalation. Al Thani said Qatar “worked tirelessly to keep the mediation process intact” and continues to focus on restoring full compliance from both sides.
Addressing the challenges of mediation, Al Thani acknowledged that Israel and Hamas “have never engaged in direct talks.” He described Qatar’s role as serving as an intermediary, “trying to present genuine solutions that satisfy both sides.” Despite tense relations with Israel, he maintained that Doha had always acted with fairness.
“Even though our position with Israel is not the best—because for us, they are still occupying Arab land and denying Palestinians their rights—we never dealt with them unfairly. We’ve always listened to their concerns and proposed solutions that could realistically be implemented,” Al Thani said.
The prime minister also disclosed that Qatar has been urging Hamas to recognize the importance of disarmament. “We are trying to pressure Hamas to acknowledge that disarmament is necessary,” he said, suggesting that the group “appears willing to give up governing Gaza.” His remarks hint at a potential transformation in Hamas’s role within the territory.
{Matzav.com}
President Trump was caught on a hot mic Wednesday revealing that his upcoming meeting with Chinese President Xi Jinping would last far longer than originally planned.
During a formal dinner hosted by South Korean President Lee Jae Myung, Trump could be heard saying the Thursday summit would run “three to four hours,” even though official White House guidance had pegged it at under two.
“We’re going to have something that’s going to be very, very satisfactory to China and to us,” Trump told the gathered dignitaries. “I think it’s going to be a very good meeting. I look forward to it tomorrow morning when we meet.”
The meeting with Xi is expected to be one of the most consequential of Trump’s current Asia trip, which concludes Thursday after stops in multiple countries. The president has signaled optimism that the discussion will help stabilize relations with Beijing after months of tension over trade, defense, and technology.
Between remarks about his upcoming talks with Xi, Trump turned to another regional flashpoint: North Korea. Speaking directly to the South Korean president, he downplayed concerns over Pyongyang’s aggression.
“You have a neighbor that hasn’t been as nice as they could be, and I think they will be,” Trump said. “I know Kim Jong Un very well, and I think things will work out very well.”
The president has repeatedly emphasized his personal rapport with the North Korean leader. Earlier this week, while speaking to reporters aboard Air Force One, he reminisced about their unusual diplomatic relationship.
“I got along great with Kim Jong Un,” Trump said. “I liked him, he liked me.”
Trump, who made history in 2019 as the first U.S. president to step onto North Korean soil, has not arranged a meeting with Kim during this trip, but his comments suggest the door remains open for future talks.
{Matzav.com}
In the midst of a heated campaign against Shas chairman Aryeh Deri, the revered mekubal, Rav Yaakov Ades, has sent a heartfelt letter of support and clarification, denying recent claims that he criticized Deri and expressing deep regret over false publications using his name.
“I was truly shocked to see posters in the streets claiming that I mentioned your name and spoke against you,” Rav Ades wrote. “Such a thing never happened—it is a complete fabrication. You can hear in the recording that your name was never mentioned at all. It is not only illogical that I would do such a thing, but I am also bound by the Torah to exercise great caution because of my father’s health. There is no possibility that I would ever do something like that. Of all those involved in caring for his health, you were the best emissary sent by Hashem, and my father, shlit”a, told me many times, ‘You truly saved my life.’”
Rav Ades explained that the statements being circulated originated from a months-old radio interview on Kol Chai with Rav Moshe Ben Lulu, recorded back in Adar, which were recently taken out of context. “People mistakenly think those words were said now,” he clarified. “When you sent Eli Mizrachi to tell me that my words had caused you pain, I immediately went back on air in the same program and praised you. I said explicitly that we spoke together in the summer of 5784 and both agreed that the current situation is very bad, and that the draft law is terrible. We only differed in opinion over which aspect was worse. I said clearly that it was obvious to me that you are acting lesheim Shamayim. From then on, I was careful never to say anything—on air or in a public talk—that could even mistakenly be taken as criticism of you.”
The mekubal added that after the committee chairmanship was replaced, he held a lengthy meeting with Deri’s emissary, Ariel Attias, to discuss the situation in detail. “I tried to find out who was behind these false postings in order to protest, but I couldn’t discover who it was. Anyone who does know may rebuke him in my name,” he wrote.
Rav Ades concluded his letter with a heartfelt bracha: “May it be Hashem’s will that you merit to increase Torah and holiness among the Jewish people, to be spared from all pitfalls and mistakes, and to accomplish great and lofty things for the spreading of Torah, for the strengthening of mitzvah observance, and for a widespread return to teshuvah—all in complete goodness. Signed, your longtime friend, who prays constantly, bli neder, that you be protected from all harm.”
{Matzav.com}
WATCH:
Rabbi Alvin Kass, the guiding spiritual force of the New York City Police Department for almost sixty years, has passed away at the age of 97. The beloved chaplain, who joined the force in 1966, was remembered by city leaders and police officials as a man whose compassion and faith became inseparable from the heart of the NYPD.
Commissioner Jessica S. Tisch reflected on his extraordinary legacy and long-standing impact. “Rabbi Kass joined the NYPD in 1966, at the age of 30, becoming the youngest chaplain in the Department’s history,” she said. “Nearly six decades later, he remained its spiritual heart – a source of strength, guidance, and faith for generations of police officers and their families.”
Tisch spoke of the breadth of his accomplishments and the depth of his service. “A US Air Force veteran and Columbia graduate, Rabbi Kass devoted his life to service, to this city, and to the women and men of the NYPD. He comforted the grieving, counseled the troubled, and reminded all of us of the deeper purpose in what we do.”
Throughout his life, Rabbi Kass stood beside officers in their darkest and proudest hours. He was among the first to arrive at Ground Zero following the September 11 attacks, offering comfort to the families of the 23 NYPD officers who lost their lives that day. “And for more than half a century, he stood beside our members through moments of tragedy and triumph alike,” Tisch added.
At countless NYPD ceremonies and graduations, his benedictions became a symbol of unity and hope. He would pray that New York remain “a place where people of every race, religion, color, and creed can pursue their individual destinies untrammeled, unafraid, and in obedience to Thy will.”
Commissioner Tisch closed her tribute with words that captured the Department’s collective grief and gratitude. “Today, that prayer belongs to all of us,” she said. “And as we carry his words forward, we know he will still be watching over the city and the Department he loved. His loss is immeasurable. His example is everlasting. May his memory be a blessing.”
Mayor Eric Adams also paid heartfelt tribute, noting that Rabbi Kass’s presence extended far beyond official duty. “Rabbi Kass was a pillar of strength and comfort for the NYPD. He consoled us through the monumental tragedies and personal hardships. Whenever you needed solace or help, he was there for you.
“Thank you for everything, Rabbi. May his memory be a blessing.”
{Matzav.com}