BERLIN (Reuters) -German industrial production rose significantly more than expected in January, increasing by 3.5% on the previous month, the federal statistical office said on Wednesday. In a Reuters poll, analysts had pointed to an increase of 1.4% for the month. The positive development “was driven in particular by strong growth in the manufacturing of …
German industrial output rises more than expected in January Read More »
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) -The Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the “totality” of incoming information suggests tougher measures are needed to control inflation, Fed Chair Jerome Powell told U.S. …
Fed’s Powell sets the table for higher and possibly faster rate hikes Read More »
By Howard Schneider WASHINGTON (Reuters) – It wasn’t volunteered, but Federal Reserve Chair Jerome Powell on Tuesday made his most extensive comments to date on the role corporate profits could play in lowering inflation, telling U.S. lawmakers it was possible for inflation to fall and workers’ wages to keep rising for a time if companies …
Fed’s Powell acknowledges slimmer corporate profits could help curb inflation Read More »
By Andrea Shalal WASHINGTON (Reuters) -The Federal Reserve should “take a breath” as it looks poised to push interest rates higher than expected after recent data showed less progress than central bank officials had hoped for in lowering inflation, a White House official said on Tuesday. Asked about Fed Chair Jerome Powell’s comments earlier in …
White House will not interfere with Fed, but hopes it will ‘take a breath’ Read More »
By Sinéad Carew and Sruthi Shankar (Reuters) – U.S. stock indexes closed sharply lower on Tuesday after Federal Reserve Chair Jerome Powell told Congress the central bank will likely need to raise interest rates more than expected as it seeks to rein in stubbornly high inflation. Powell sent investors fleeing after he told U.S. lawmakers …
Wall Street slumps as Powell flags sharper rate hikes Read More »
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s Chief Executive Officer Brian Moynihan had a clear message for shareholders on Tuesday: “We are capitalists.” The proclamation from the head of the second-largest U.S. lender might seem obvious, but comes at a time when Wall Street titans face more criticism …
Bank of America CEO says ‘we are capitalists’ as anti-ESG critics gain steam Read More »
WASHINGTON (Reuters) – The White House said Tuesday it backs a bill in Congress to give the Biden administration new powers to ban Chinese-owned video app TikTok and other foreign technologies that could pose security threats. White House National Security Advisor Jake Sullivan said the bipartisan bill sponsored by a dozen senators “would strengthen our …
White House backs bill to strengthen U.S. powers to ban TikTok Read More »
By Michael S. Derby (Reuters) – Federal Reserve Chair Jerome Powell said on Tuesday the U.S. central bank’s decade-old 2% inflation target has in years past been a key factor in keeping inflation low and holding that target at the current level should help in policymakers’ efforts to lower high price pressures. “We think it’s …
Fed’s Powell again rejects idea of raising inflation target Read More »
WASHINGTON (Reuters) – The White House urged Congress to quickly pass legislation introduced on Tuesday that would provide the federal government with new powers to ban Chinese-owned video app TikTok and other foreign-based technologies if they pose a national security threat, U.S. national security adviser Jake Sullivan said in a statement. “We look forward to …
White House urges Congress to pass bill giving Commerce secretary power to ban TikTok Read More »
(Reuters) -Tesla Chief Executive Elon Musk on Tuesday said that the next generation small car the company is working on would operate mostly in autonomous mode, similar to a promise he made in 2020. On Tuesday he said there was a clear path to delivering a car that cost half as much to build as …
Tesla’s next generation smaller car to operate mostly autonomously-Musk Read More »
