Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994
The Federal Open Market Committee released its decision on interest rates Wednesday, with markets expecting a three-quarter point hike.
Financial News
China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain
China released economic data for May that topped muted expectations for a month hampered by Covid controls.
U.S. holds ‘candid’ and ‘productive’ talks with China in nearly 5-hour meeting
A senior administration official described the talks, which were held in Luxembourg, as “candid, in-depth, substantive and productive.”
Global food prices are soaring. Rice could be next
Food prices and export bans have been on the rise. Rice, a staple food in much of Asia, could be next, industry watchers say.
The Fed will raise rates in the week ahead, but what Chair Powell says may matter most
The Federal Reserve meets next week, and while opinion is unanimous it will raise rates, markets are hinging on what Chair Powell says about future hikes.
Dow dives 800 points, S&P 500 posts worst week since January after inflation hits 40-year high
Stocks fell as investors digested the latest inflation report.
Stocks fall sharply, Dow drops more than 600 points ahead of pivotal inflation data
Stocks fell on Thursday, dropping sharply in the final hour of trading, ahead of a CPI reading on Friday.
Stock futures are flat on Wednesday evening
Stock futures were flat in overnight trading Wednesday after the major averages ended the regular session lower and U.S. Treasury yields rose.
Fed GDP tracker shows the economy could be on the brink of a recession
The Atlanta Fed’s GDPNow tracker is now pointing to an annualized gain of just 0.9% for the second quarter.
Huge pay bumps and flexi work policies: How Singapore companies are fighting the war for talent
Around 60% of 270 companies surveyed by Mercer reviewed their benefits in 2021, up from between 10% and 15% in earlier years.