Federal Reserve Bank of Chicago President Charles Evans said Tuesday that aggressive central bank rate rises are needed to get inflation back under control. “Inflation is clearly much too high and monetary policy must be repositioned to address this,” Evans said in a speech in New York. While...
The current state of stablecoins shares similarity with private bank notes, which circulated as money in the 19th century and were later replaced by national bank notes subject to federal oversight, according to analysts at Goldman Sachs.  Stablecoin is a type of cryptocurrency pegged to other assets, often fiat...
The bear market for stocks isn’t over. In fact, it may have aways to go. That’s because — even with the S&P 500 SPX, +2.02% 16% below its all-time high, and both the Nasdaq Composite COMP, +2.76% and the Russell 2000 Index RUT, +3.19% into bear-market territory — many...
Federal Reserve Chairman Jerome Powell on Tuesday stressed his resolve to curb inflation but said the central bank could achieve a “softish landing” for the U.S. economy rather than a severe downturn. “There are a number of plausible paths to having.. a softish landing,” Powell said, during a moderated...
In the aftermath of Saturday’s supermarket shooting in Buffalo, N.Y., there’s growing awareness of the widely spreading beliefs espoused by this suspect, as well as other mass shooters accused of racially motivated attacks. Described by the Anti-Defamation League as a “racist conspiracy theory,” the “great replacement” theory falsely alleges...
Americans can start ordering free COVID-19 test kits from the federal government once again. The U.S. government is mailing out eight more rapid at-home COVID tests per household to people who order them through the United States Postal Service. You can order them online at special.usps.com/testkits or by calling...
The euro rallied on Tuesday, helped by a rise in bond yields as well as comments from a European Central Bank policymaker in which he said a half percentage point interest rate hike was possible. Klaas Knot told a Dutch television program said he favors a quarter-point rate hike,...
Mortgage rates have risen significantly this year — 30-year average fixed rates went from roughly 3.5% in early 2021 to more than 5.6% now, Bankrate data shows — and pros say they will likely go higher. So that makes getting...
“This deal cannot move forward until he does.” That was Elon Musk in an early Tuesday tweet, where the Tesla TSLA, -5.88% chief executive doubled down on his demand for more information on spam bots from Twitter TWTR, -8.18% CEO Parag Agrawal. “20% fake/spam accounts, while 4 times what...
Michael O’Leary, chief executive of Ryanair Holdings Inc., tore into Boeing Co. during an earnings call Monday, blasting the plane-maker’s “very poor management” and calling for a shakeup at the top. “At the moment, we think Boeing management is running around like headless chickens, not able to sell aircraft,...