A Quarter-Point to Close the Year; Passport, Please … and Your Instagram

Up first: The Federal Reserve is closing out 2025 with a quarter-point rate cut — its third this year. And investors were glued to this one. Policymakers headed into today’s meeting unusually divided: focus on a softening job market, or keep the inflation pressure? Adding to the drama, the Fed has been operating in a partial data blackout due to the lingering fallout from the federal shutdown. NBC News managing editor for business and the economy Mike Calia joins host Yasmin Vossoughian to break down what today’s move signals for the economy heading into 2026. And foreign visitors to the U.S. may soon have to share five years of social media history under a new Trump administration proposal. Customs and Border Protection wants all international travelers, even visa-exempt ones, to submit their accounts before entering the country. NBC News’ senior homeland security correspondent Julia Ainsley joins the pod to discuss what’s driving the move and the privacy concerns piling up. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.