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Live from NPR News in Washington, I'm Lakshmi Singh.

The Dow's extending its losing streak to a 10th day for the first time since 1974.

At last check, it has fallen more than 1,100 points or more than 2.5%.

It's at 42,326. This, after the Federal Reserve, signaled fewer rate cuts in 2025.

For now, the Fed is delivering another break on borrowing costs. It ended its policymaking meeting,

today with another rate cut of a quarter percentage point. NPR Scott Horsley has more.

This was the central bank's third rate cuts since September, but with stubborn inflation still hovering above the Fed's target of 2%,

policymakers may be cautious about additional rate cuts in the new year.

Forecast released this afternoon show on average members of the Fed's rate-setting committee now expect rates to fall by another half-percentage point in 2025 down from the full-point drop they were projecting back in September.

Fed officials feel like they can afford to move cautiously since the overall economy and the job market have held up well in the face of high borrowing cost.

Economists have also warned some of the policies of the incoming Trump administration, such as tariffs and mass deportation, could make it harder to bring inflation under control.

Scott Horsley-NPR News, Washington.

Former Congressman Matt Gates is responding to reports that the House Ethics Committee is prepared to release the findings of its investigation into sexual misconduct and illicit drug use allegations.

He has consistently denied the accusations and did so again today on his ex-social media account.

He also says he has been given no opportunity to debate or rebut the allegations as a former member of the House.

NPR has not independently confirmed if or when the Ethics Committee plans to release its report.

A group of former students has accused elite universities of secretly favoring applicants who come from

wealthy backgrounds. The lawsuit dates back two years, but a new motion was

filed this week. NPR's Janaki Metha reports. New details have emerged in an ongoing case that

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