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The Latest Breaking News from US Federal Reserve

How central banks in India, US and other economies are fighting inflation

NEW DELHI: Global inflationary pressures are being faced by all economies alike. The surge in prices of key commodities has spiked more markedly and is persistent in most economies than anticipated, especially at a time when they are recovering from slowdown caused by Covid pandemic in the last 2 years.

The Times of India

'Inflation's Momentum Is Still Strong': Experts React To 8.3% CPI Inflation, Higher Than Expected

The SPDR S&P 500 ETF Trust SPY (NYSE: SPY) traded lower by 0.6% on Wednesday morning after the Labor Department reported an 8.3% increase in the consumer price index in the month, indicating inflation remains near 40-year highs.

Benzinga

Prices in US outstrip forecasts in sign of inflation persisting

U.S. consumer prices rose by more than forecast in April, indicating inflation will persist at elevated levels for longer and keeping the Federal Reserve on the path of aggressive interest-rate hikes.

Tribune News Service

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Early casualty of rising rates? Mortgage refinancing.

Refinancing activity has fallen off a cliff this year, according to a new report.

Axios

How low-income people pay the steepest price when inflation hits

The annual inflation rate likely eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

WEKU

Inflation may be easing — but low-income people are still paying the steepest prices

The annual inflation rate eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

WEKU

India’s vulnerability in the global economic tumult

There is no alternative to timely policy responses, heeding sound economic advice, and strengthening institutions

The Hindu

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US inflation dips to 8.3% but stays close to 40-year high –as it happened

US food prices rise at fastest rate since 1981, as ECB’s Lagarde cements expectations for July rate hike, and German price rises hit record high

The Guardian - UK

Senate confirms Lisa Cook as the first Black woman on the Federal Reserve Board

WASHINGTON — The Senate voted Tuesday to confirm Lisa Cook as the first Black woman to join the Federal Reserve Board.

Tribune News Service

Senate approves Lisa Cook as first Black woman on Federal Reserve board of governors

Cook is only the second of Biden's five nominees for the Fed to win Senate confirmation. His Fed choices have faced an unusual level of partisan opposition.

WEKU

Senate approves Lisa Cook as first Black woman to Fed post

The Senate has confirmed Michigan State economist Lisa Cook to serve on the Federal Reserve’s board of governors

The Independent UK

Explainer: Should we be concerned about the baht?

Thailand started off this week with the baht weakening to a five-year low of 34.62 against the greenback. While in line with other Asean currencies that have softened against the US dollar, the performance is worth monitoring because it serves as an indicator in the country's recovery.

Bangkok Post

Bitcoin dips below $30,000 as investors skittish on Fed

Bitcoin fell below US$30,000 on Tuesday, hitting a 10-month low amid heavy market sell-offs on concerns over the Federal Reserve's aggressive monetary tightening and recession fears.

Bangkok Post

Markets Finish Mixed Following Brutal 3-Day Losing Streak

U.S. indices finished Tuesday’s trading session mixed. Markets have been volatile after the Federal Reserve last Wednesday announced it would raise the key interest rate by 50 basis points. A recent gain in treasury yields has also weighed on technology and growth stocks.

Benzinga

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The Hindu

Control inflation by acting on liquidity

Inflation in India cannot be described just as ‘cost-push’; an abundance of liquidity has been an important factor

Roll Call

Senate confirms Lisa Cook as the first Black woman on the Federal Reserve Board - Roll Call

The Senate voted Tuesday to confirm Lisa Cook for the Federal Reserve Board. She will be the first Black woman on the board.

StockNews.com

2 High-Quality Software Stocks That Look Cheap

Concerns over the Fed's aggressive monetary policy stance and the consequences of the Ukraine-Russia war have driven a massive tech sell-off lately. However, since the robust demand for software solutions with continuing digitization is expected to drive the industry’s growth, we think high-quality software stocks Progress Software (PRGS) and Amdocs…

Benzinga

Despite Recession Fears, This Indicator Says The US Economy Is Booming

The SPDR S&P 500 ETF Trust (NYSE: SPY) has taken a big hit so far in 2022. Negative U.S. GDP growth in the first quarter has investors increasingly spooked that inflation and aggressive Federal Reserve tightening could push the economy into a recession.

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StockNews.com

Should You Invest in the Tobacco Industry?

Despite many perceiving the tobacco industry as detrimental to society, most tobacco companies are investor favorites due to their extraordinary returns. Apart from their market-beating returns, these stocks are well known for their high dividend yields. Given an inelastic demand for products and high dividend payouts, this defensive industry looks…

StockNews.com

4 Large-Cap Value Stocks With 40%-71% Upside, According to Wall Street

In the face of various macroeconomic and geopolitical headwinds, the stock market is expected to remain volatile in the coming months. Large-cap value stocks have been gaining significant investor attention due to their tendency to outperform large-cap growth stocks. Thus, Wall Street analysts expect fundamentally sound large-cap value stocks Ford…

StockNews.com

Key Topics That Will Influence Where the Market Goes Next

Today was a brutal day for the market and particularly for growth stocks. The S&P 500 (SPY) finished the day down more than 3% with growth stocks down even more as evidenced by Cathie Wood's ARK Innovation ETF dropping nearly 10%. And, this carnage continued in the after-hours session with…

Benzinga

Why Bitcoin-, Ethereum- And Litecoin-Related Stock Coinbase Is Diving Today

Shares of several banks and financial services companies, including Coinbase Global Inc (NASDAQ: COIN), are trading lower amid continued volatility as traders assess recent Fed policy changes and ongoing inflation concerns.

Tribune News Service

US gasoline price hits record with driving season looming

U.S. retail gasoline and diesel prices rallied to a record just ahead of the nation’s summer driving season, a challenge for President Joe Biden and the Federal Reserve as they face the fastest inflation in decades.

Benzinga

Prominent VC Warns Markets Could Fall 'Quite A Bit More'

After a nice upward move on the day of the Fed rate hike, the market has retreated sharply in the three subsequent sessions. The sell-off isn't quite done yet, according to Redpoint Ventures.

Tribune News Service

Missing: About 2 million workers from labor force, KC Fed says

An estimated 2 million workers are missing from the U.S. labor force, a new Federal Reserve Bank of Kansas City report found.

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