Market Overview - Page 147

Federal Reserve Chairman Jerome Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy. In remarks prepared for the House Financial Services Committee, the central bank chief noted improvements but.

The European Union detailed on Wednesday how it will reduce greenhouse gas emissions in the coming years, with the plan potentially revolutionizing many sectors from air travel to shipping. The 27-member bloc has vowed to become carbon neutral by 2050.

The Organization of Petroleum Exporting Countries on Wednesday arrived at a deal after a nearly two-week standoff over its future oil production levels, according to reports by the Wall Street Journal and Reuters. The temporary but unprecedented gridlock that began.

Fed chairman Powell stands tall on the positions he has been voicing since at least the beginning of the year. At a congressional hearing, he repeated the mantra about the short-term and temporary nature of inflation and that the Fed.

Inflation in the US continues to go off the charts. Such a sharp rise reinforces the importance of action by the Fed and other policymakers, causing markets to wait tensely for their comments and hints of further moves. The market’s.

Prices paid by U.S. consumers surged in June by the most since 2008, topping all forecasts and testing the Federal Reserve’s commitment to sticking with ultra-easy monetary support for the economy. The consumer price index jumped 0.9% in June and.

The National Federation of Independent Business optimism index increased 2.9 points to 102.5, the group said Tuesday. The figure exceeded the median projection of 99.5 in a Bloomberg survey of economists. Seven of the 10 components rose in June. A.

Stocks dropped from record highs and and bond yields jumped after a U.S. debt auction was met with tepid demand in the wake of data showing consumer inflation unexpectedly accelerated in June. Yields climbed after the Treasury Department sold $24.

In March last year, a top venture capital firm described Covid-19 as the “black swan of 2020.” “Private financings could soften significantly, as happened in 2001 and 2009,” Sequoia Capital told portfolio company founders and CEOs in a memo reminiscent.

The rapid spread of the delta variant has clouded the growth outlook, strategists are warning, but it’s too soon to tell how markets will react. France, the Netherlands and Spain announced new restrictions on Monday in a bid to curb.

The Biden administration warned businesses with supply chain and investment ties to China’s Xinjiang province on Tuesday that they could face legal consequences, citing growing evidence of genocide and other human rights abuses in the country’s northwest region. The most.

Inflation surged in June at its fastest pace in nearly 13 years amid a burst in used vehicle costs and price increases in food and energy, the Labor Department reported Tuesday. The consumer price index increased 5.4% from a year.