5 Things to Know — Dec. 10: Fed Poised to Cut Rates, Miami Elects New Mayor, Campus Shooting, Ukraine Peace Push, Nobel Prize Update

Overview: Here are five key stories to start your day: the Federal Reserve’s likely rate cut and a Powell press conference, a major mayoral turnover in Miami, a deadly campus shooting in Kentucky, Ukraine’s evolving peace talks, and developments around this year’s Nobel Peace Prize.

1. Federal Reserve Expected To Lower Interest Rates

The Federal Reserve is widely expected to cut interest rates again today amid continuing debate among members of its rate-setting committee. Fed Chair Jerome Powell will hold a news conference at 2:30 p.m. ET to explain the decision and outline what it means for borrowers and financial markets.

2. Trump Frames Inflation Message As 2025 Campaign Ramps Up

As high costs continue to strain U.S. households, President Donald Trump sought to ease affordability concerns while blaming Democrats for rising prices during a Pennsylvania speech. He repeatedly criticized former President Joe Biden, calling affordability worries a “Democratic hoax,” though a November Fox News survey found 76% of voters view the economy negatively. Trump’s rhetoric alternated between policy claims and sharper personal attacks, underscoring an active political backdrop to economic debate.

3. Eileen Higgins Projected To Become Miami’s Next Mayor

CNN projects that Eileen Higgins, a former county commissioner, will win Miami’s mayoral race, ending nearly three decades of Republican control of the office. Higgins is expected to defeat city manager Emilio Gonzalez, who had President Trump’s endorsement. While the Miami mayor has limited formal powers, the role is a prominent civic and diplomatic position for a city with a large Latino population and ongoing debates around immigration enforcement.

4. Shooting At Kentucky State University Leaves One Dead

One student was killed and another remains in critical condition after a shooting at Kentucky State University. Officials say a 48-year-old suspect from Indiana, not a student, was arrested moments after the incident. Kentucky Gov. Andy Beshear described the attack as isolated. According to a CNN analysis, this is the 73rd shooting on school grounds this year, most of them on college campuses, resulting in dozens of fatalities and many more injuries.

5. Ukraine, Peace Plan Talks and International Pressure

Ukrainian President Volodymyr Zelensky said his team is preparing an updated version of a peace plan originally proposed by the Trump administration and could send it to U.S. officials soon. Zelensky has been firm that Ukraine will not cede Russian-occupied territory, even as President Trump presses for compromises to advance a deal. In a recent interview, Trump urged Zelensky to move faster toward concessions; Russia continues to demand territorial concessions as part of any settlement.

Nobel Peace Prize: Laureate In Hiding

The Nobel Committee will award the Peace Prize today. This year’s laureate, opposition leader María Corina Machado of Venezuela, is reportedly living in hiding under pressure from President Nicolás Maduro’s government and will not attend the Oslo ceremony. Machado’s daughter is expected to accept the prize and deliver remarks on her behalf. The committee honored Machado for her work defending democratic rights and seeking a peaceful transition in Venezuela.

Other Headlines

• Australia implements a world-first ban on major social platforms for users under 16.
• The FBI raised its reward to $15 million for information leading to the arrest of a former Olympian on its Ten Most Wanted list.
• Invasive purple lupine is spreading across Iceland, threatening native plant species.
• Toronto’s Downsview Airport is being redeveloped into an urban district planned for more than 50,000 residents; part of the 1.2-mile runway will become parkland.
• Author and philanthropist MacKenzie Scott disclosed $7.1 billion in 2025 donations to nonprofits, a notable increase in her giving.

What to watch next: Powell’s 2:30 p.m. ET press conference for market and policy clues, continued updates on the Miami mayoral result, developments in the Kentucky State investigation, any submission of Ukraine’s updated peace plan, and coverage from the Nobel ceremony in Oslo.