2025-11-22 14:49

Fed's Collins remains hesitant to cut interest rates again Collins says Fed facing conflicting movement in mandates Collins says will go into FOMC with open mind BOSTON, Nov 22 (Reuters) - Federal Reserve Bank of Boston President Susan Collins said Saturday that she’s still leaning against the U.S. central bank cutting its interest rate target next month as it faces ongoing risks to both its inflation and job mandates. “I do see reasons to be hesitant” about lowering the cost of short-term borrowing at the December 9-10 Federal Open Market Committee meeting. “My own view is that policy is currently in the kind of mildly restrictive range after the 50-basis-point easing that we did in September and October, and that's appropriate” given the current state of the economy, Collins told reporters at a conference at her bank. Sign up here. The challenge for the Fed right now is that it faces ongoing risks created by above-target inflation while at the same time the job market is softening, she said. For monetary policy, “I see risks on both sides and it’s really about balancing those risks.” Collins was asked if she was willing to dissent against a rate cut at the upcoming Fed meeting, which is likely to be unusually fractious for a committee that typically sees policymakers set policy by clear consensus. She said she has not decided what she wants the Fed to do at the meeting and would like to see more data before making a call. Over recent days, a wide range of officials have staked out positions on whether the Fed should cut what is now a 3.75% to 4% federal funds rate target range by a quarter-percentage-point. The Fed’s other two rate cuts were driven by officials’ desire to support a softening job market while still keeping interest rate policy in a place where it can depress inflation that continues to overshoot the Fed’s 2% target. Fed officials are also moving toward the meeting with a dearth of the data they usually rely on to set monetary policy, with the government shutdown only recently resolved. A substantial number of policymakers have been against cutting rates amid ongoing inflation concerns. Some of the gravity on that internal debate shifted Friday with a speech by New York Fed leader John Williams, who said “I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral.” That caused futures markets to increase what had been declining odds of a near-term easing. Some on the Fed have prepared observers to see an unusual level of formal disagreement at the FOMC meeting. For those who have accused the Fed of groupthink when it comes to setting policy, “get ready: You might see the least groupthink you've seen from the FOMC in a long time,” Fed Governor Christopher Waller said on Monday. Collins told reporters “we’re in a complex period” for setting monetary policy. “I think having a range of views is important, and I think there are some periods where there's, you know, more of a range. If we all thought exactly the same thing, I think that would be, would be problematic.” The Boston Fed bank president also said in her comments to the press that her outlook for the future of the economy is relatively benign, with unemployment rising a bit, and inflation pressures eventually moderating from current levels. She added that financial conditions are putting some wind at the economy’s back. Collins also explained what could alter her view on the right path for interest rate policy. “Looking at both sides of the mandate, there are risks on the employment side, and certainly, if I saw more evidence of more softening and weakness, I would take that seriously.” https://www.reuters.com/sustainability/boards-policy-regulation/feds-collins-monetary-policy-currently-right-place-hesitant-about-cutting-rates-2025-11-22/

2025-11-22 14:40

DUBAI, Nov 22 (Reuters) - Iran has sought help to fight a devastating fire in UNESCO-listed forests in its north, with neighbouring Turkey sending firefighting planes, Iran's top environmental official said on Saturday. The fire threatens the Hyrcanian forests, which stretch along the southern Caspian Sea coast and date back 50 million years. They are home to 3,200 plant species - a "floral biodiversity ... remarkable at the global level", according to UNESCO , opens new tab, which listed them as a World Heritage site in 2019. Sign up here. "Two firefighting aircraft (and) one helicopter ... are being dispatched by the Turkish government today. There is also the capacity to have cooperation from Russia if needed," Vice-President Shina Ansari told state television. Two Iranian Ilyushin firefighting aircraft, seven helicopters and about 400 firefighters are battling the blaze, which follows a drought marked by rain levels across Iran at 85% below average. The fire reignited last Saturday following media reports that it was put out after breaking out in late October. Meanwhile, the head of a provincial nature protection unit said unauthorised hunters may have started the blaze and Reza Aflatouni, the head of Iran's forestry body, suggested that the fire may be linked to illegal efforts to destroy forested areas in order to build private residences, according to Iranian media reports. https://www.reuters.com/sustainability/land-use-biodiversity/iran-battles-fire-unesco-listed-forest-gets-turkeys-help-2025-11-22/

2025-11-22 11:05

BRUSSELS, Nov 22 (Reuters) - Group of Seven nations, EU leaders Ursula von der Leyen and Antonio Costa, and other European leaders were discussing Washington's proposed peace plan for Ukraine on Saturday afternoon on the sidelines of the G20 summit in Johannesburg, sources familiar with the matter said. The E3, an informal security alliance of France, Britain and Germany, met ahead of the wider discussion. Sign up here. The attendees included Finland, Norway, Spain and the Netherlands, one of the sources specified. The United States and Russia are negotiating a 28-point road map to end Russia's war in Ukraine but Brussels has not been included in the negotiations. European Commission president Von der Leyen said on Friday she would reach out to Ukrainian President Volodymyr Zelenskiy. Zelenskiy said he was ready for "constructive, honest and prompt work" with Washington. Rustem Umerov, Secretary of the Ukrainian National Security and Defence Council, said on Saturday that Kyiv was holding consultations in Switzerland with the U.S. on ending the war. https://www.reuters.com/world/europe/g7-eu-leaders-discuss-ukraine-peace-plan-sidelines-g20-summit-sources-say-2025-11-22/

2025-11-22 10:24

JOHANNESBURG, Nov 22 (Reuters) - The Leaders' Declaration from a Group of 20 summit in South Africa on Saturday stressed the seriousness of climate change, in a snub to U.S. President Donald Trump, who boycotted the gathering and doubts the scientific consensus that global warming is caused by human activities. Sign up here. https://www.reuters.com/world/g20-summit-declaration-stresses-seriousness-climate-change-snub-trump-2025-11-22/

2025-11-22 09:58

Nov 22 (Reuters) - A Washington State resident receiving treatment for H5N5 avian influenza died on Friday, the state's health department said, in the first confirmed human case of this variant globally. The deceased - of Grays Harbor County - was an older adult with underlying health conditions, the department said in a statement released late on Friday, adding the person owned a backyard flock of mixed domestic birds. Sign up here. The department found the avian flu in the flock's environment, pointing to domestic poultry or wild birds as the likely source of exposure. It said that the risk to the general public remains low, and no other individuals involved in the case have tested positive for avian influenza, commonly called bird flu. "Public health officials will continue to monitor anyone who was in close contact with the patient for symptoms," the department said, adding: "There is no evidence of transmission of this virus between people." Those who had exposure to the backyard flock and its environment were also being monitored for potential symptoms, the department said. https://www.reuters.com/business/healthcare-pharmaceuticals/washington-state-resident-dies-first-confirmed-h5n5-bird-flu-case-health-2025-11-22/

2025-11-22 08:34

Nov 21 (Reuters) - All crew members have been evacuated from the container ship One Henry Hudson after a fire and explosion disrupted the vessel's power and crane operations at San Pedro port on Friday, the Los Angeles Fire Department said. Hazardous materials have been identified in several bays at the port, and firefighters are wearing protective gear and using self-contained breathing equipment. Sign up here. Marine units continue cooling the ship's exterior, with no personnel allowed below deck, the LAFD said. TV footage from an ABC affiliate shows firefighting boats shooting streams of water on the ship's sides and over containers on fire on the deck. Four of the port’s seven container terminals have suspended operations and a waterside safety zone has been established around the vessel, port officials said. LAFD said it has issued a shelter-in-place order for San Pedro and Wilmington due to a hazardous materials incident resulting from the container ship fire. Los Angeles Mayor Karen Bass said residents in areas under the order should remain at home with their windows closed and AC systems turned off. The One Henry Hudson sails under a Panama flag and arrived in Los Angeles on Wednesday from Tokyo's Shinagawa port, according to LSEG data. California Governor Gavin Newsom's office in an X post said that it is coordinating with local authorities to support first responders. Mayor Bass said more than 100 firefighters are working to suppress the fire and air quality is being monitored. The vessel is berthed at the Yusen Container Terminal, the Port of Los Angeles said in a statement. No injuries have been reported, and fire suppression efforts are ongoing. https://www.reuters.com/world/us/ship-catches-fire-los-angeles-port-six-crew-members-unaccounted-fire-dept-says-2025-11-22/