The US Federal Reserve lowered its benchmark rate by 25 basis points to 4%-4.25% on Wednesday, its first cut since December. Policymakers signaled the potential for two additional reductions this year but stressed a data-dependent, meeting-by-meeting approach. The market response was muted, with the Nasdaq and S&P 500 ending lower and Treasury yields rising.

The dollar has surged against major currencies after the Federal Reserve's policy outlook was interpreted as less dovish than expected. The Bloomberg Dollar Spot Index rose as much as 0.4%, the biggest intraday gain in two weeks, as investors reduced bets on future interest-rate cuts.

The Securities and Exchange Commission will allow public companies to block shareholders from filing class-action lawsuits, instead requiring arbitration of claims. The move is part of a broader effort to ease compliance requirements and attract more initial public offerings. The policy change has drawn criticism from investor advocacy groups and Democrats, who argue that it could reduce transparency and put investors at a disadvantage.

New York City's Community Advisory Committee has rejected casino proposals for Caesars Palace Times Square and Avenir at Hudson Yards. The decision leaves six competitors for the city's three gaming licenses.

A study of rats in New York City found that they are highly social and communicate with each other in ultrasonic vocalizations, and the researchers say that understanding how rats have adapted to city life could help urban planners, public health officials and building managers. "They're rugged, and they're New Yorkers themselves: persistent and resilient and able to thrive in a very extreme environment," said study co-author Ralph Peterson.

Change is always happening, as is resistance to it, but you can lead your teams through change by creating transformative conversations that reframe resistance, create clarity and align team energy toward collaborative growth, writes Marlene Chism, a consultant and speaker. Chism outlines common traps leaders may encounter and how to escape them using a four-quadrant map to navigate challenging conversations.

Federal Reserve Chair Jerome Powell highlighted growing signs of weakness in the US labor market as a primary reason for the latest rate cut. Recent data showed job creation falling below the level needed to keep unemployment steady, with the unemployment rate edging up to 4.3%, the highest in nearly four years. Policymakers noted that downside risks to employment have increased, prompting a shift in the Fed's focus from inflation to supporting jobs.

The SEC has approved rule changes that allow national securities exchanges to use generic listing standards for new spot cryptocurrency and other commodity ETFs. This decision marks a major shift from the previous case-by-case approval process and is expected to enable dozens of new spot crypto ETFs, including those tracking solana and dogecoin, to launch more quickly.

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