Federal Reserve Chair Jerome Powell said policymakers expect to deliver a “couple” more interest-rate increases before putting their aggressive tightening campaign on hold, even as they slowed their drive to curb inflation.
US stocks rose with Treasuries as Federal Reserve Chair Jerome Powell said the central bank has made progress in its battle against inflation, even as he warned that additional rate hikes are likely warranted.
Behind closed doors, Federal Reserve policy makers worry rallying markets are impeding their efforts to control inflation. But every time Jerome Powell goes out in public he gives them more room to run.
The cyberattack on a UK-based software firm that upended some derivatives trading doesn’t pose a “systemic risk to the financial sector,” a senior official in the US Treasury Department said Wednesday.
MetLife Inc., the biggest U.S. life insurer, said profit fell in the fourth-quarter from a year ago with premiums, fees and other income declining as investment income faltered.
Federal Reserve Chair Jerome Powell warned against any assumption that the central bank can rescue the economy if Congress fails to raise the federal debt ceiling — a move that could force the Treasury into a payments default.
With egg prices surging in the US, some Americans are trying to lower their grocery bills by buying them south of the border. The only problem: It’s illegal to bring them back into the country, and now seizures of eggs at some US-Mexico border crossings have surged more than 300%.
Advent International-backed UK defense firm Cobham said it’s weighing an acquisition of Mercury Systems Inc., a US peer that this week announced it’s exploring strategic alternatives.
Peloton Interactive Inc. reported improved cash flow and a narrower net loss in the latest quarter, leading Chief Executive Officer Barry McCarthy to say that questions about the viability of the business have been “put to bed.” The shares jumped 27% to $16.36 in New York, marking a record one-day increase.
Bonds of firms related to Gautam Adani’s flagship Adani Enterprises Ltd. plunged to distressed levels after the company pulled a large stock offering, the latest fallout from a short-seller’s research report that accused the group of fraud.
