new video loaded: Federal Reserve Raises Interest Rates to Highest Level in Two Decades
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transcript
The Fed’s monetary policy actions are guided by our mandate to promote maximum employment and stable prices for the American people. My colleagues and I
The hearing on Wednesday focused on separate draft legislation from Rep. Bob Latta, R-Ohio, and Rep. Debbie Dingell, D-Mich.
In an interview Tuesday, Dingell told Automotive News it was her goal to pass AV legislation this year, and the hearing was a step toward finding common ground.
“What we really want to do is we want to know what stakeholders like, what they don’t like, what’s missing and what should be struck,” she said. “We need to move this forward.
SEOUL — Hyundai Motor raised its annual sales and profit margin guidance on Wednesday, after recording a 15 percent rise in quarterly net profit helped by a weaker won currency, robust sales of electric vehicles and increased production.
The world’s No.3 automaker by sales together with affiliate Kia forecast 2023 revenue would grow 14-15 percent, up from its January guidance of 10.5-11.5 percent, while its operating profit margin was upwardly revised to a range of 8-9 percent from 6.5-7.5.
“The
Federal Reserve officials raised interest rates to their highest level in 22 years, continuing their 16-month campaign to wrestle inflation lower by cooling the American economy even as they left the door open to further action if inflation showed signs of proving stubborn.
Officials pushed rates to a range of 5.25 to 5.5 percent, their highest level since 2001, in a unanimous decision.
Jerome H. Powell, the Fed chair, suggested in a news conference following the decision that while the
“The (Federal Open Market) Committee will continue to assess additional information and its implications for monetary policy,” the Fed said in language that was little changed from its June statement and left the central bank’s policy options open as it searches for a stopping point to the current tightening cycle.
As it stated in June, the Fed said it would watch incoming data and study the impact of its rate hikes on the economy “in determining the extent of additional
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By GEOFFREY SMITH
with IZABELLA KAMINSKA, BEN MUNSTER and ANJULI DAVIES
— BIS urges central banks and financial institutions to quantum proof their systems.
— Australia’s RBA and Poland’s NBP both have rate meeting decisions today.
— Whither Germany? Bundesbank President Joachim Nagel wonders aloud if Germany’s business model still has a future.
ECB 3.75% ⇡ — BOE 4.5%
The Democratic candidate’s defeat in the general election in Oregon’s 5th Congressional District was a double blow for progressives, at once helping give Republicans their razor-thin majority in the U.S. House of Representatives and also denying the left a chance to show that one of their own could prevail in a marginal seat after ousting a centrist incumbent in a primary.
Democrat Jamie McLeod-Skinner, a regional emergency response coordinator and attorney, lost to Republican Lori Chavez-DeRemer, the former mayor
Eric Trump could not help himself and subtly raised his fist when supporters gathered outside his mother Ivana Trump’s funeral yelled ‘Trump 2024.’
The 45th President’s youngest child, 38, was standing outside the Frank E. Campbell funeral home with several members of the Trump clan when a woman yelled, ‘we love you! Trump 2024,’ to the family.
Although his face remained grieving, Eric Trump discreetly raised his fist as he rested his other hand on his four-year-old son’s shoulder.
Meanwhile,
OKLAHOMA CITY — Last Saturday, like many days here in early June, was a softball fiesta. The 13,100-seat stadium — burnished and bulked up by a $27.5 million renovation that added a second deck — was teeming with young pony-tailed fans from Alva to Ardmore, partisans in Oklahoma, Oklahoma State or Texas colors, and softball aficionados who make the yearly sojourn to the Women’s College World Series.
The scene was an apt representation of the sport’s growth. Just a generation
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Beverly Enright has always believed her sister, Adrienne Pollack, was involved with drug trafficking before her sudden death.
The Playboy Bunny passed away in 1973 at age 23. She overdosed just three weeks after her birthday. Enright is adamant that her sister’s involvement with the Playboy Mansion resulted in her demise.
Enright recently spoke out on A&E’s 10-part docuseries “Secrets of Playboy,” which examines the magazine empire and its founder Hugh
