The Federal Reserve’s September policy meeting kicked off Tuesday morning, and markets overwhelmingly expect the Fed to raise interest rates by 25 basis points on Wednesday amid persistently high inflation. Such a move would mark the Fed’s first increase in...
The Federal Reserve voted to raise interest rates by 25 basis points on Wednesday amid persistently high inflation. The decision was unanimous. The median Fed official expects one more rate hike this year, according to the central bank’s Summary of...
Senators on Tuesday voted to block the Clarity Act from moving forward, setting back efforts to establish a comprehensive regulatory framework for the crypto industry. The Digital Asset Market Clarity Act received 50 votes for and 49 against the motion...
Despite financial pressures, workers remain committed to their retirement goals, with many boosting their contribution rates — and watching their savings grow. According to Fidelity Investments’ latest quarterly analysis, 769,000 retirement savers have a million dollars or more in their...
Managing newfound tech wealth is not without its challenges and key considerations for the founders and employees who have accrued it. “I think what we’re seeing across the board with wealth creation in particular is just the pace of this...
Federal Reserve governor Michael Barr said Tuesday that if inflation doesn’t come down adequately, the central bank should raise interest rates. Ahead of the Fed policy meeting in just over two weeks, Barr said the outlook for inflation and the...
When Treasury yields reach multiyear highs, some investors get nervous. Higher bond yields are triggered by lower bond prices, and the effects are felt across the financial spectrum: from investing in stocks and bonds to borrowing costs and savings returns....
America’s stockpile of crude oil has dropped to the lowest level in more than four decades. According to the US Department of Energy, the US Strategic Petroleum Reserve declined by 6 million barrels last week to 298.7 million. Data from...
Cleveland Federal Reserve president Beth Hammack said Monday she anticipates more than one interest rate hike will be required to rein in what she calls broadening inflation. “I would say in general, one 25 basis point move probably doesn’t do...
Toronto-based Coinkite says software bug meant passwords were less secure than thought Dozens of bitcoin investors around the world received a rude awakening last week after discovering they had collectively lost millions of dollars after their accounts with Toronto-based crypto...
KOSPI’s 35.8% Plunge from Peak Sparks ‘Zero-Loss Investment’ Trend Among Office Workers The KOSPI, which had risen to the 9,000-point level just over a month ago, has fallen to the 6,000-point range, sparking discussions among office workers about the term...
Surging retail trading isn’t just transforming markets; it’s also highly correlated with demoralization in young men, according to a new study. One-quarter of men aged 18-29 said they trade stocks daily, and almost two-thirds of them (64%) report feeling like...
Mortgage rates rose to their highest level in a year amid the re-escalating conflict with Iran and investors grew more worried about the Federal Reserve’s plans to tame inflation. The average 30-year mortgage rate rose 8 basis points to 6.66%...
It had been just six weeks since Federal Reserve Chairman Kevin Warsh vowed to reestablish the central bank’s reputation as an inflation fighter. But as he took to the podium to explain why the Fed again sat on the fence...
Elon Musk came the closest he has yet to addressing long-running speculation that he intends to combine Tesla (TSLA) and SpaceX (SPCX) on Tesla’s Q2 earnings call, but stopped short of confirming anything. Asked whether he sees value in eventually...
