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Federal Reserve officials expressed concern at their most recent meeting about the pace of inflation and said more rate hikes could be necessary in the future unless conditions change, minutes released Wednesday from the session indicated. That discussion during a two-day July meeting resulted in a quarter percentage point rate hike that markets generally expect … Read more
A fire assault drill by North Korean rocket artillery units at an undisclosed location in North Korea in March 2023 in this photo released by North Korea’s Korean Central News Agency (KCNA). Around 6,000 of these units are located in range of South Korean population centers. KCNA | Reuters North Korea’s missile launches in the … Read more
A ‘richcession’ may be underway “In most recessions, unemployment rises more for lower-income groups,” said Tomas Philipson, a professor of public policy studies at the University of Chicago and former acting chair of the White House Council of Economic Advisers. “Although we are not in an overall recession yet, the demand for and wages of … Read more
CNBC’s Jim Cramer on Wednesday examined the ramifications a strike by the United Auto Workers would have on the big three automakers, especially Ford. The UAW, one of the largest unions in North America, and its new president Shawn Fain started officially bargaining in June, fighting for pay increases, pensions and job security. The union … Read more
Traders work on the floor of the New York Stock Exchange on August 16, 2023 in New York City. Michael M. Santiago | Getty Images Stock futures were near flat on Wednesday night as investors digested the Federal Reserve’s latest commentary that future rate hikes are not out of the picture. Futures tied to the … Read more
SpaceX founder Elon Musk gestures to the audience after being recognized by President Donald Trump at NASA’s Vehicle Assembly Building following the successful launch of a Falcon 9 rocket with the Crew Dragon spacecraft from Kennedy Space Center, May 30, 2020. Paul Hennessy | SOPA Images | Getty Images As part of a criminal investigation … Read more
Former New York Mayor Rudy Giuliani and Republican presidential candidate Donald Trump arrive to speak to police gathered at Fraternal Order of Police lodge during a campaign event in Statesville, North Carolina, U.S., August 18, 2016. Carlo Allegri | Reuters Several of the attorneys who spearheaded President Donald Trump’s frenzied effort to overturn … Read more
Silhouettes of laptop and mobile device users are seen next to a screen projection of the YouTube logo. Dado Ruvic | Reuters YouTube on Tuesday announced a new policy for combatting medical misinformation on the video-sharing platform, according to a blog post. The company said it will streamline its existing guidelines to fall under three … Read more
Consumer spending held up well in July as inflation slowed, with retail sales turning in a stronger-than-expected showing for the month, the Commerce Department reported Tuesday. The advanced retail sales report showed a seasonally adjusted increase of 0.7% for the month, better than the 0.4% Dow Jones estimate. Excluding autos, sales rose a robust 1%, … Read more