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WEEKLY NEWS HIGHLIGHTS (2024.09.21)

(THIS IS THE TRANSCRIPT FOR ARIRANG NEWS THAT AIRED ON 20 Sep 2024 - 00:00 KST.) Welcome to Weekly News Highlights where we bring you the top stories of the week. I'm Song Yoo-jin coming to you from Arirang's virtual studio. South Korean President Yoon Suk Yeol visited the Czech Republic this week, eyeing major agreements, including sealing a multi-billion dollar nuclear power plant deal. We cover the key outcomes of his four-day trip. North Korea ramped up tensions on the Korean Peninsula, by testing two tactical ballistic missiles, one new and one upgraded. Leader Kim Jong Un says they are in response to what he calls "grave threats" from outside forces. For the first time in four-and-a-half years, The U.S. Federal Reserve slashed interest rates by half a percentage point. We’ll break down what triggered this decision and what it could mean for the economy. President Yoon Suk Yeol arrived in Prague on Thursday, where he met with Czech President Petr Pavel. Before departing, President Yoon emphasized that finalizing the nuclear power plant deal between the state-run Korea Hydro & Nuclear Power company and the Czech government was of "paramount importance." Our Presidential Office correspondent Kim Do-yeon has more on what was discussed between the two leaders. And in an exclusive interview, Arirang News' senior Presidential Office correspondent Oh Soo-young sat down with Czech President Petr Pavel ahead of his summit with President Yoon. Take a look. Turning to North Korea, the regime continued its provocations this week, testing new and upgraded ballistic missiles while also sending more trash-filled balloons. Shin Ha-young tells us more about these provocations and South Korea's response. In the U.S., former President and current Republican presidential candidate Donald Trump was rushed to safety last Sunday after what the FBI says was an apparent assassination attempt at his Florida golf club. This came almost two months after Trump was injured following a shooting at a rally in Butler, Pennsylvania. Choi Soo-hyung has the details on the suspect and the ongoing investigation. Meanwhile in Lebanon, attacks involving explosive wireless devices targeted Hezbollah, killing more than 30 people. Israel is widely believed to be behind the explosions, though there has been no official comment. A day after the second attack, Israel and Hezbollah engaged in cross-border strikes, once again raising fears of an all-out war in the Middle East. Shin Ha-young has more on the situation. Title: Key takeaways from the Fed's big rate cut 미 연준 '빅컷' 단행 한은 10월 금리인하 가능성? Earlier this week, the U.S. Federal Reserve lowered interest rates for the first time since 2020 – slashing half a percentage point off benchmark rates. Joining me in the studio to discuss is our economics correspondent, Moon Hye-ryeon. Welcome, Hye-ryeon. Thank you for having me. So Hye-ryeon, could you give us a breakdown on what was announced during the Federal Reserve meeting this Wednesday? As you said, Yoo-jin, the Fed announced that it would be lowering interest rates by 50 basis points to bring the benchmark interest rate down to the 4-point-7-5 to 5 percent range. Half a percentage point may not sound like much, but it’s considered a big step – other than the emergency reductions made during the COVID-19 pandemic, it’s the first time since the global financial crisis of 2008 that the Fed has slashed rates by such a significant amount. And what’s more, Fed policymakers also projected further rate cuts worth 50 basis points in the coming months, signaling confidence in its ability to manage the economy. And what was the reason behind the Fed’s decision? Since July last year, the Fed has been keeping its benchmark interest rate at a two-decade high in an attempt to tackle inflation. Over the past few months, inflation has been falling – reaching 2-point-5 percent in August and getting close to the Fed’s target. But high interest rates can hold back hiring, and recent figures have shown rising unemployment rates. This decision from the Fed therefore shows a shift in focus from inflation to addressing the U.S. job market. Here’s what Fed Chair Jerome Powell said. ... #SouthKorea_CzechRepublic_Summit #YoonSukyeol #sales_diplomacy #US_economy #Federal_Reserve #Lebanon #NorthKorea #Arirang_News #아리랑뉴스 #Arirang_News #아리랑뉴스 📣 Facebook :   / arirangtvnews   📣 Twitter :   / arirangtvnews   📣 Homepage : https://arirang.com/ 2024-09-21, 12:00 (KST)

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