Renewable energy is booming across emerging economies, where the economic viability of wind and solar power has made them the obvious choice in most national and regional contexts. More importantly, the rapid shift in renewable-energy economics is not only saving developing countries money but could also deliver substantial financial gains in the coming years.

A recent study from the University of Oxford indicates that low- and middle-income countries stand to benefit the most from adopting renewable energy, with potential GDP gains of around 10% over the next 20 to 25 years if they pursue a rapid transition. The report notes that this renewable-driven economic growth has already begun: investments in renewable energy across the world’s 100 largest developing nations (excluding China) contributed roughly 1.2 trillion dollars to GDP growth between 2017 and 2022 — equivalent to around 2% to 5% of GDP in most of these economies.

The report’s executive summary states: “Renewable energy drives prosperity… and when implemented properly, it can expand affordable energy access, attract investment, create new jobs, and raise productivity across the entire economy.”

Several interconnected factors explain this trend. First, renewable-energy sources have become dramatically cheaper to install and operate. Solar power, in particular, has undergone a remarkable economic transformation, with prices falling by 90% since 2010. Sam Stranks, Professor of Energy and Optoelectronic Materials at the University of Cambridge, told New Scientist: “Solar panels made from silicon now cost roughly the same as plywood.” As a result, renewable energy now delivers far higher investment returns than fossil fuels. The report also notes that green-energy spending tends to remain within the local economy, supporting domestic supply chains and directly increasing local income — unlike the fossil-fuel sector.

Renewables also offer better solutions for rural and underserved areas. “Decentralized energy solutions such as small-scale solar systems or rooftop panels can reach rural regions where electricity grids are costly and unreliable,” Semafor reported.

Pakistan provides a clear example, experiencing a “solar-power revolution” as households increasingly adopt solar-plus-battery systems as a reliable and affordable alternative to local grids, which are expensive, unstable, and often inaccessible. Pakistan has rapidly become “one of the world’s major new adopters of solar power.” Jan Rösner, Head of Energy Programmes at Oxford’s Environmental Change Institute, said: “The scale of solar installations being rolled out in such a short time is unlike anything we’ve seen elsewhere.”

Pakistan is far from alone. Emerging markets are adding renewable capacity at a stunning pace. In recent years, countries such as Brazil, Chile, El Salvador, Morocco, Kenya, and Namibia have surpassed the United States in their clean-energy transition, with 63% of markets in Africa, Asia, and Latin America relying more heavily on solar power for electricity generation than the US does. CNN reported that “some countries are implementing energy transitions at astonishing speed, adding solar capacity so quickly that it has become a major source of electricity within just a few years — not decades.”

This global shift has been enabled largely by China’s low-cost renewable-energy components. Despite concerns about China’s growing influence over the energy sectors of low- and middle-income countries, its affordable supply chains have transformed global energy markets in critical ways. Without access to inexpensive clean energy, many developing economies would have required massive financial support to achieve sustainable growth — funding repeatedly promised by Western powers through climate finance but often not delivered.

Despite ongoing challenges in the clean-energy transition, and even amid political pushback against renewables in the world’s largest economy, renewable energy has simply become too cheap to fail. As New Scientist wrote: “We now have an abundant, cheap electricity source that can be built quickly almost anywhere in the world… Is it really far-fetched to imagine solar providing power for everything one day?”

The minutes of the Federal Reserve’s October meeting, released on Wednesday, showed that policymakers were divided over the decision to cut interest rates, reflecting disagreements about whether a cooling labor market or persistent inflation posed the greater threat to the economy.

Although the Federal Open Market Committee approved a rate cut at the meeting, the path for monetary policy in the coming period has become less clear. The divisions extended to expectations for December, with several officials expressing doubts about the need for an additional cut that investors had widely anticipated. “Many” participants said there would be no need for further easing at least through 2025.

The minutes stated: “A number of participants judged that an additional cut could be appropriate in December if the economy evolves as they expect between the two meetings. Many participants indicated that, under their economic scenarios, it would be appropriate to keep the target range unchanged for the rest of the year.”

In Fed language, “many” signifies a larger group than “a number of,” indicating a tilt against a December cut. But the term “participants” does not necessarily refer to voting members. Nineteen officials attended the meeting, but only twelve are eligible to vote, leaving the direction of the actual votes unclear.

These signals align with Chair Jerome Powell’s comments during the press conference after the meeting, where he emphasized that a December cut was “not a foregone conclusion.”

Before Powell’s remarks, traders had priced in an almost certain cut at the 9–10 December meeting. By Wednesday afternoon, those odds had fallen to less than one-third.

The minutes also noted that “most participants” still expect that more cuts may eventually be needed, though not necessarily in December.

Ultimately, the committee approved a quarter-point cut, bringing the federal funds target range to 3.75%–4%. The 10–2 vote, however, understated the degree of division within an institution known for its consensus.

Officials expressed broad concern about a softening labor market and persistent inflation that “has shown little evidence” of a sustainable move back to the 2% goal. The minutes highlighted several distinct camps within the committee.

“In this context,” the minutes said, “many participants viewed reducing the target range as appropriate at this meeting, while some supported the move but were also prepared to keep the range unchanged, and a number of others opposed a cut.”

A major point of contention was how restrictive policy currently is. Some participants judged that policy remained sufficiently tight even after the quarter-point cut, while others argued that “the resilience of economic activity” suggested policy was not restrictive enough.

Public remarks indicate a split between “doves” such as Stephen Miran, Christopher Waller, and Michelle Bowman, who favor cuts to protect the labor market, and “hawks” such as Kansas City Fed President Jeffrey Schmid, Boston’s Susan Collins, and San Francisco’s Alberto Musalem, who worry that further easing could hinder progress on lowering inflation.

In the middle are moderates including Powell, Vice Chair Philip Jefferson, and New York Fed President John Williams, who prefer a more cautious approach.

The minutes noted that one participant — a reference to Miran — favored a larger half-point cut. Schmid voted against the move, saying he preferred no cut at all.

The lack of government data for 44 days — due to the government shutdown — further complicated decision-making, since key labor, inflation, and other economic indicators were neither collected nor published. Agencies such as the BLS and BEA announced revised schedules for some releases, but not all.

Powell compared the situation to “driving through fog,” while Waller rejected that analogy earlier this week, insisting the Fed has sufficient information to make policy decisions.

The minutes also addressed the balance sheet. The committee agreed to halt the runoff of Treasuries and MBS in December — a process that has already reduced the balance sheet by more than $2.5 trillion, though it still stands near $6.6 trillion. Support for ending quantitative tightening appeared broad.

Palladium prices declined on Wednesday as the US dollar strengthened against most major currencies ahead of key economic data.

Later today, markets await the release of the Federal Reserve’s latest meeting minutes, which resulted in a rate cut, while the closely watched nonfarm payrolls report for September is due on Thursday.

According to Capital.com, palladium has surged about 26% since the beginning of October to reach roughly 1,500 dollars per ounce. The rally has moved in tandem with gains in platinum and came alongside an easing in global financial conditions.

Expectations of US rate cuts and dollar weakness earlier this month also supported palladium as part of what analysts call a “gold plus liquidity” wave that lifted precious metals broadly.

Palladium is used almost exclusively in catalytic converters for gasoline engines, meaning US automakers and electronics manufacturers could face sharp fluctuations in costs.

Technical analysis from Monex points to resistance between 1,500 and 1,520 dollars per ounce, with expectations that the broader trend remains upward, albeit with volatile trading ahead.

Analysts at CPM Group said palladium’s recent strength is “closely tied to platinum’s performance”, while warning that a weakening US labor market and persistent inflation could weigh on demand.

Despite the announcement of a so-called trade truce between Washington and Beijing, statements from US officials suggest tensions remain. The US Treasury Secretary said China is not a reliable trade partner, while President Donald Trump stated his administration will not allow advanced Nvidia chips to be exported to China or other countries.

The US dollar index rose 0.4% to 99.9 by 15:35 GMT, after touching a high of 99.9 and a low of 99.4.

Palladium futures for December delivery fell 0.7% to 1,414 dollars per ounce by 15:36 GMT.

Bitcoin prices edged higher on Wednesday after a steep sell-off in the previous session, though the token remained close to seven-month lows as traders stayed cautious ahead of key U.S. jobs data and more signals on Federal Reserve policy.

The world’s largest cryptocurrency rose 1.4% to 90,953 dollars by 01:25 Eastern Time (06:25 GMT).

Bitcoin briefly dipped below the 90,000-dollar mark on Tuesday — its weakest level since April — before rebounding toward 94,000 dollars. But it failed to hold those gains as risk sentiment remained fragile.

Caution persists around the Fed… and all eyes on U.S. jobs data

The recent pullback reflects growing uncertainty over the Fed’s interest-rate path. Several policymakers have delivered hawkish-leaning comments in recent days, stressing that the inflation trend remains uneven and suggesting that the room for further easing this year is limited.

That shift has dampened expectations for near-term rate cuts, putting pressure on cryptocurrencies.

Investors are now awaiting Thursday’s delayed September nonfarm payrolls report — postponed due to last month’s government shutdown. The data will help clarify the strength of the labor market and guide the Fed’s next steps, potentially delivering Bitcoin’s next major directional catalyst.

Adding to the unease, U.S. President Donald Trump said he has made his decision on the next Federal Reserve chair and may announce it soon.

Although current chair Jerome Powell’s term runs until May 2026, speculation over a potential successor has raised concerns about the central bank’s future independence.

Kraken valued at 20 billion dollars in latest funding round

Crypto exchange Kraken said Tuesday it raised 800 million dollars in a two-tranche funding round that valued the company at 20 billion dollars — a 33% increase in under two months.

Institutional investors including Jane Street, HSG, Oppenheimer Alternative Investment Management, and Tribe Capital participated in the primary tranche, while a second 200-million-dollar tranche came from Citadel Securities.

Kraken said the funds will help accelerate its mission to offer regulated blockchain-based financial products and expand its multi-asset platform into futures, equities, tokenized assets, and payments.

Crypto prices today: muted moves across altcoins amid risk aversion

Most major altcoins traded flat to lower on Wednesday as economic jitters kept investors cautious.

Ethereum — the world’s second-largest cryptocurrency — rose 1% to 3,027.24 dollars.

XRP, the third-largest token, remained nearly unchanged at 2.13 dollars.