On Wednesday, US stocks rallied as the Federal Reserve opted to maintain interest rates at their highest range in 22 years. The S&P 500 climbed more than 1%, the Dow Jones Industrial Average gained almost 0.7%, and the Nasdaq led gains, surging 1.6%. The Fed decided to keep rates unchanged in a range of 5.25% to 5.50% while waiting to see how its previous aggressive credit tightening efforts would impact the US economy. The central bank’s previous projection of one more rate hike this year was not confirmed, leading to a shift in bets on future rate hikes, with investors pricing in a 73% chance of rates remaining steady through the Fed’s January meeting.
As climate impacts accelerate, finance gap for adaptation efforts at least 50% bigger than thought
The latest United Nations Environment Programme (UNEP) Adaptation Gap Report warns that the world is falling short in climate adaptation...
