President-elect Donald Trump announces SoftBank will make $100B investment in the US

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President-elect Donald Trump Monday is delivering remarks on the economy.

President-elect Donald Trump announced Monday that SoftBank will make a $100 billion investment in the U.S. that will create 100,000 jobs focused on artificial intelligence and emerging technologies. SoftBank plans to complete the work before Trump leaves office in 2029, according to a person familiar with the matter.Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week's Federal Reserve meeting.

"We're on the cusp of a transition to them not cutting every meeting," said David Wilcox, a former senior Fed official who is an economist with Bloomberg Economics and the Peterson Institute for International Economics. "They're going to slow the tempo of cuts." On Wednesday, the policymakers will also issue their quarterly projections for growth, inflation, unemployment and their benchmark interest rate over the next three years. In September, they had collectively envisioned that they'd cut rates four times next year. Economists now expect just two or three Fed rate cuts in 2025. Wall Street traders foresee even fewer: Just two cuts, according to futures prices.

Fed officials, including Powell, have said they still foresee inflation heading lower, however slowly, while their key rate is still high enough to restrain growth. As a result, reducing rates this week is more akin to letting up on a brake than stepping on an accelerator. "It seems easier to explain not cutting than to find themselves in a position where they would have to raise rates in this political environment," Sinclair said.

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