Fed Signals Rate Cut; RFK Jr. Withdraws From Arizona Ballot; Canada Rail Lockout Continues

Federal Reserve Chair Jerome Powell signaled an interest rate cut on Friday in the first such move since 2020. He told an annual gathering of central bankers and economists that “the time has come for policy to adjust.”

Arizona's Secretary of State Adrian Fontes has confirmed that independent presidential candidate Robert F. Kennedy Jr. filed paperwork to withdraw from presidential ballots in Arizona. This is fueling speculation that Kennedy will withdraw from the race as he prepares to address the nation on Friday.

A Canadian Teamsters union issued a 72-hour strike notice to one of Canada’s two major freight railroads on Friday—just hours after Canadian National trains had begun rolling again following a damaging stoppage. The union announced that it plans to challenge a government order that forced it into arbitration with both CN and CPKC railroads to end a lockout.