Fed’s Daly says more rate hikes needed, dismisses ‘pivot’ talk
[ad_1] The Federal Reserve needs to keep raising its benchmark interest rate in order to cool inflation that hit a 40-year high earlier this year and has shown little signs…
Celsius co-founder Daniel Leon resigns
[ad_1] S. Daniel Leon, co-founder and chief strategy officer of Celsius, has left the firm just a week after chief executive Alex Mashinsky declared his departure. “We confirm that Daniel…
Fed’s Daly says ‘churn’ in labor market might be settling
[ad_1] There are signs that the U.S. labor market is starting to cool off a bit, San Francisco Federal Reserve President Mary Daly said Tuesday. “I think…some of the churn…
If Fed gives up fight, ‘you’re going to see bitcoin and other assets take right back off,’ says Michael Novogratz
[ad_1] “ ‘If he gives up this fight, you’re going to see bitcoin and other assets take right back off.’” — Michael Novogratz, CEO of digital asset and blockchain lender…
Pound climbs, U.K bond yields fall again on expectations U.K.’s Kwarteng will speed up debt-cutting plans
[ad_1] The British pound rose and gilt yields fell a second day after reports that U.K. Chancellor Kwasi Kwarteng will publish debt-reducing plans early, a day after a U-turn over…
Fed’s Barkin expects inflation to come down a bit in coming months
[ad_1] All signs point to lower U.S. inflation in coming months, Richmond Fed President Thomas Barkin said Friday. “Inflation should come down a bit. I don’t expect it to be…
Fed must try to avoid a ‘harsh recession,’ Daly says
[ad_1] The Federal Reserve does not need to induce a deep recession in order to bring down high inflation, San Francisco Fed President Mary Daly said Thursday. “Inducing a deep…
Why bitcoin and ether are outperforming stocks, despite dollar’s rally
[ad_1] Bitcoin and ether have outperformed major stock indexes so far this week, despite the dollar’s continued rally as Treasury yields have climbed. Bitcoin BTCUSD, -0.49% lost about 1.4% on…
U.S. stock futures dip, dollar rises as Italian election results add to uncertainty
[ad_1] U.S. stock-index futures fell late Sunday, suggesting losses Monday, as the projected victory of a far-right party in Italy added to uncertainties about rising interest rates and recession fears.…
Yellen: Inflation will come down next year
[ad_1] Treasury Secretary Janet Yellen on Thursday said she believed high U.S. inflation would fall next year, but cautioned there are risks to this outlook. “I believe it’s going to…
Yen rallies after Japan unilaterally intervenes for first time in 24 years
[ad_1] The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked the trend of…
Apple hikes app store prices in Europe and Asia as dollar soars
[ad_1] Apple Inc. has announced a price increase of its apps and in-app purchases in Europe and Asia as a measure to safeguard its profit margins as other currencies have…
2-year Treasury yield’s rise keeps curve deeply inverted as investor unease deepens
[ad_1] The yield on the 2-year U.S. Treasury note climbed for a seventh straight trading session on Friday and inched further above its highest levels in almost 15 years, as…
Any doubt Fed will raise rates by 75 basis points next week is gone after hot U.S. inflation data
[ad_1] Any doubt that the Federal Reserve will raise its its benchmark interest rate by 0.75 percentage point next week is gone, economists said, following the hot U.S. consumer price…