News when you want it with Bloomberg News Now, I'm Doug Prisner.

The Federal Reserve cut its policy rate today for a third consecutive time, lowering the Fed Fund's rate by a quarter percentage point, and at the same time, FED officials maintained their outlook for just one rate cut in the new year.

Here is Fedchair J.

Powell.

In the labor market.

Although official employment data for October and November are delayed, available evidence suggests that both layoffs and hiring remain low, and that both households perceptions of job availability and firm possession perceptions of hiring difficulty continued to decline.

The official report on the labor market for September, the most recent release, showed that the unemployment rate continued to edge up, reaching four point four percent, and the job gains had slowed significantly since earlier in the year.

That's Fedchair J.

Powell.

Now.

Three FED officials dissented from today's decision.

We had FED Presidents Austin Goulesby and Jeff schmid Fie leaving rate steady.

On the other hand, Fed Governor Stephen Myron preferred to cut rates by a half percentage point, so the Committee's decision was nine to three.

Jim Bianco is the president and founder of Bianco Research.

He told us he would have liked to have seen more descents.

I was hoping for a seven and five vote.

I was hoping for a FED that was more divided, that was more independent, that was going to send a message to the administration.

You could put a guy in that wants to go to one percent, but he's not going to bully us to cut rates next year.

Just because he's the FED chairman.

They kind of left the door open.

I think that the FED can be bullied by the next FED chairman to do the bidding of President Trump.

That is Jim Bianco from Bianco Research.

Now separately, today, President Trump did say he has decided on who he will nominate to succeed Jay Powell as FED chair Ian May US forces intercepted and seized a sanctioned oil tanker off the coast of Venezuela.

Here is Bloomberg Nick Watams.

One is whether this signals a new strategy really to put the squeeze on Nicholas Maduro.

That seems almost certain.

It was a very large crude carrier, so carrying a ton of oil.

Around two million barrels and was allegedly bound for Cuba, according to our sourcing.

That is Bloomberg's Nick Watams.

Now, the US action may make it much harder for Venezuela to export its oil overseas.

Other shippers are now likely to be more reluctant to load cargoes from Venezuela.

In recent weeks, the Trump administration has ramped up pressure on Venezuela and President Nicholas Maduro while accusing him of presiding over a narco trafficking operation.

Lawmakers in Mexico have given final approval for new tariffs on Asian imports.

Now this move brings Mexico in broad alignment with US efforts to tighten trade barriers against China, as Mexican President Claudia Schinbaum seeks to protect local industry.

The bill from Mexico Senate imposes tariffs of between five percent and fifty percent on more than fourteen hundred products from Asian nations that do not have a trade deal with Mexico.

We moved to earnings news next after the Bell Oracle reported a jump in spending on AI data centers and other equipment and the outlays are taking longer to translate into cloud revenue than investors want.

More from Bloomberg's Charlie Pellett.

Oracle is taking part in a massive data center build out to power AI work for Open Ai.

It also counts companies such as Bike Dances, TikTok, and Meta Platforms as major cloud customers.

Brent phil is an analyst Jeffreys Research.

The challenge with.

This quarter was it was an okey quorder, but there was no massive elephant transaction.

You kind of had the analopes, if you will, roaming, not the elephants.

Wall Street has been raising doubts about the costs and timelines required to develop AI infrastructure at such met of scale.

In New York.

Charlie Palette Bloomberg.

Radio, Adobe gave an upbeat outlook for revenue in the coming year.

It suggests that Adobe's AI features are helping to fuel growth of its creative software business.

Here is analyst Anor rag Rana of Bloomberg Intelligence.

Adobe's management niechees just come out and say we are executing properly.

They are, you know, I always say, not worried about AI cannibalizing their business.

Their margins were very strong this time.

What they promised a year ago, they actually fulfilled it.

For the next quarter, they are talking about ten percent growth in the overall company annual recurring revenue.

So I think overall good results.

But this is a company where, honestly, the sentiment is so negative.

No matter what they do, they just can't get a great.

Ana agrana from Bloomberg Intelligence.

Right now, shares in Adobe are down seven tens of one percent in late US trading.

Coca Cola CEO James Quincy is stepping down.

Quincy will be replaced at the end of March by Enrique Brown, chief operating Officer.

Quincy will transition to the role of executive chairman.

He is currently chairman of the company's board.

And that is news when you want it with Bloomberg News.

Now, I'm Doug Chrisner, and this is Bloomberg