Nearly two-thirds of the buildings in the war-ravaged Gaza Strip have been damaged or destroyed since the outbreak of the latest round of Palestinian-Israeli conflict on last Oct 7, the United Nations said on Friday.
The United Nations Satellite Center said on Friday that based on the latest assessment of satellite imagery, over 150,000 buildings, or 63 percent of the total structures, have been damaged or destroyed in the conflict.
Many Gaza residents say that they would be attacked even if they stayed in the so-called "safe zone" designated by the Israeli military. Their homes have been destroyed repeatedly, leaving them with no place to hide.
During the past 24 hours, the Israeli military killed 35 people and wounded 55 others in the enclave, bringing the Palestinian death toll to 39,480 and injuries to 91,128 since the latest round of Palestinian-Israeli conflict broke out, Gaza-based health authorities said in a statement Thursday.
Nearly two-thirds of buildings in Gaza damaged: U.N.
Nearly two-thirds of buildings in Gaza damaged: U.N.
Nearly two-thirds of buildings in Gaza damaged: U.N.
The U.S. Federal Reserve on Wednesday slashed interest rates by 50 basis points amid cooling inflation and a weakening labor market, marking the first rate cut in over four years.
"The Committee has gained greater confidence that inflation is moving sustainably toward 2 percent, and judges that the risks to achieving its employment and inflation goals are roughly in balance," the Federal Open Market Committee (FOMC), the central bank's policy-setting body, said in a statement.
"In light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent," the FOMC said.
This signals the start of an easing cycle. Starting from March 2022, the Fed had raised rates consecutively for 11 times to combat inflation not seen in forty years, pushing the target range for the federal funds rate up to between 5.25 percent and 5.5 percent, the highest level in over two decades.
After maintaining rates at the high level for over a year, the Fed's tight monetary policy faced pressure to pivot due to the easing of inflationary pressures, signs of weakening in the job market, and slowing economic growth.
U.S. Fed slashes rates by 50 basis points, first rate cut in four years
