Federal Reserve officials signaled that unemployment might climb slightly higher by the end of the year. In their quarterly forecasts, Fed officials said they expect the jobless rate to reach 4.4% at the end of 2024,

A round-up of the day's news, plus dwindling dam levels in at least three provinces compounded by a prolonged dry season and climate change.

Fed officials slashed borrowing costs by half a percentage point, an unusually large reduction. The decision lowers rates to about 4.9%, down from a more-than-two-decade high. The Fed’s move comes in response to months of fading inflation,