The Federal Reserve has decided to leave its key interest rate unchanged in the range of 4.25% to 4.5%. This decision came despite two governors dissenting in favor of a quarter-point rate cut,

Washington

The Federal Reserve has decided to leave its key interest rate unchanged in the range of 4.25% to 4.5%. This decision came despite two governors, Bowman and Waller, dissenting in favor of a quarter-point rate cut, marking the first time since 1993 that two governors have dissented on a rate decision. 

The Fed's statement highlighted continued economic uncertainty and noted that inflation remains somewhat elevated, while the labor market is described as solid. The language in the statement did not signal any imminent rate cuts, and the committee emphasized its attention to risks on both sides of its mandate.

Fed leaves funds rate unchanged

Well Jerome Powell, maybe we'll see what his legacy might want to be by the way the decision right now with Steve a Somewhat divided Federal Reserve leaving rates unchanged at the four and a quarter to four and a half percent Range with two governors dissenting as expected governor Bowman and governor Waller who preferred a quarter-point rate cut It's the first time two governors have dissented since 1993 Nine votes were there to keep rates unchanged on hold including the chair three Fed governors and five presidents That's to say the dissenters didn't really get too much additional support over the six weeks They've argued for this cut swings and exports the statement says continue to affect the data Growth moderated in the first half of the year they know which is from data We got this morning, and here's the line that didn't change that people thought might give a double signal It does not it simply says uncertainty about the economic outlook remains elevated That's the same line they used last time they actually removed the word where last time they said Uncertainty has diminished, but remains elevated. They took out the diminished part so they still see high uncertainty That was an area where if there was a change that was going to maybe signal a dovish move or a dovish move ahead That that would have changed it did not the Fed said inflation remains somewhat elevated same language as last time Unemployment is low the labor market is solid the statement says and the committee is attended to risks on both sides of the mandate So we'll wait to hear the press conference Brian But if there's a hint that the rate cut is coming imminently in September. That's not in the statement that I could read

President Donald Trump said on Wednesday the U.S. will charge a 15% tariff on imports from South Korea as part of a deal that eases, for now, tension with a top-10 trading partner and key Asian ally.

Global Tariffs

Trump says U.S. will set 15% tariff on South Korean imports

U.S. President Donald Trump slapped a 50% tariff on most Brazilian goods to fight what he has called a "witch hunt" against former President Jair Bolsonaro, but softened the blow by excluding sectors such as aircraft, energy and orange juice from heavier levies.

Rio de Janeiro

Trump hits Brazil with tariffs, sanctions but key sectors excluded

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Okinawa

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Prime Minister Mark Carney announced that Canada will recognize a Palestinian state later this year if the Palestinian Authority, which governs parts of the West Bank, meets certain conditions.

Ottawa

Middle East Conflict

Canada to recognize Palestinian state in September if conditions met

Australia said on Wednesday (July 30) it will add YouTube to sites covered by its world-first ban on social media for teenagers, reversing an earlier decision to exempt the Alphabet-owned video-sharing site and potentially setting up a legal challenge.

Canberra

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President Donald Trump said on Wednesday (July 30) the United States will impose a 25% tariff on goods imported from India, as well as an unspecified penalty for buying Russian weapons and oil, on Aug. 1.

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Mourners flooded the streets of Birmingham to celebrate the life of rock-and-roll legend Ozzy Osbourne during his funeral procession in the United Kingdom. Mark Savage, a music reporter at the BBC, a CBS News partner, joins with more details.

Birmingham

Ozzy Osbourne fans flood Birmingham streets to mourn late music icon

U.S. President Donald Trump told reporters before departing from Scotland that Jeffrey Epstein poached workers from his Mar-a-Lago spa. Trump mentioned Virginia Giuffre, one of Epstein's most vocal accusers, in his latest remarks.

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Jerusalem

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A powerful magnitude 8.8 earthquake off Russia's Far Eastern Kamchatka Peninsula triggered tsunami waves of up to 16 feet nearby, and sparked evacuation orders in Japan, Hawaii and across the Pacific on Wednesday (July 30).

Hawaii

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The U.N. General Assembly brought high-level officials together to promote a two-state solution to the decades-old Israel-Palestinian conflict. Israel and the United States are boycotting the two-day meeting, co-chaired by the foreign ministers of France and Saudi Arabia

New York

Israel and U.S. boycott UN Summit for two-state solution

With numerous countries facing an Aug. 1 trade agreement deadline, officials in the Trump administration say China could get an extension while negotiations continue.

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Police say the man who shot and killed four people in a New York City office building before he took his own life had a "documented mental health history." Mayor Eric Adams says he may have been targeting the National Football League (NFL).

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Jeffrey Epstein-associate Ghislaine Maxwell is offering to testify before Congress in exchange for concessions like full immunity. CBS News Department of Justice reporter Jake Rosen has more.

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Prime Minister Keir Starmer said on Tuesday (July 29) Britain was prepared to recognize a Palestinian state in September at the United Nations General Assembly unless Israel takes a number of steps to improve life for Palestinians.

London

UK to recognize Palestinian state unless Israel takes action

Russia launched overnight air strikes on over 70 Ukrainian cities, killing more than 20 people, according to President Zelenskyy. A pregnant woman died near a hospital in the southeast, while a prison strike killed at least 17.

Kyiv

Ukraine Invasion

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For the first time, human rights groups inside Israel are accusing their own government of committing genocide in Gaza. Israel insists it is targeting Hamas, not civilians—despite nearly 60,000 Palestinian deaths since the war began almost two years ago.

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Former Colombian President Álvaro Uribe was found guilty of bribery and witness tampering in an unprecedented trial that has shaken the country.

Bogotá

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Russian Security Council Deputy Chairman Dmitry Medvedev posted on social media that President Trump's deadline push for a ceasefire with Ukraine is "a threat and a step towards war."

Moscow

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Ukraine says Russia's overnight air strikes hit a prison in Zaporizhzhia in the southeast, killing at least 17 people. Another 35 were injured. Authorities say the attacks destroyed the jail buildings and damaged several nearby houses.

Zaporizhzhia

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Russia launched yet another attack on Ukraine overnight, with more than 300 drones and seven missiles. While most of the barrage was intercepted, the attacks prompted President Trump to give his Russian counterpart an ultimatum.

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A gunman killed at least one police officer and shot a handful of other people Monday in the heart of New York City. CBS News New York has the latest details.

Gunman kills police officer, wounds others in Midtown Manhattan

The suspect in the Michigan Walmart stabbing attack that injured 11 people over the weekend pleaded not guilty Monday to terrorism and assault charges.

Traverse City

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The U.S. Department of Justice says it took down child abuse websites that had more than 120,000 members and contained millions of files. CBS News' Scott MacFarlane explains how the arrest of one suspect nicknamed "Boss" was a huge priority for the FBI.

U.S. Justice Dept. shuts down four child abuse websites

Five people, including security guards, were killed by a gunman at Bangkok's Or Tor Kor market on Monday. The shooter, who injured two others, later killed himself, according to authorities.

Bangkok

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Thailand and Cambodia have agreed to an “unconditional” ceasefire starting at midnight, Malaysian Prime Minister Anwar Ibrahim said on July 28, a significant breakthrough to resolve five days of deadly border clashes.

Kuala Lumpur

Thailand and Cambodia agree to ceasefire

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Top U.S. and Chinese economic officials will resume talks in Stockholm to try to tackle longstanding economic disputes at the center of a trade war, aiming to extend a truce by three months and keeping high tariffs at bay.

Stockholm

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A train derailment in southern Germany killed at least three people and injured others. The cause is under investigation, with weather possibly a factor.

Breakdown