Posted: June 22, 2023 7:22 p.m. ET Has the Federal Reserve done enough to bring inflation back to its target, or does it need to do more? Richmond Fed President Tom Barkin said Thursday he was unsure and could take a few months to make up his mind. “I’m still waiting for the haze to … Read more
Federal Reserve Chairman Jerome Powell said on Thursday that it was possible that US inflation could slow without a sharp rise in the unemployment rate. During a Senate Banking Committee hearing, Sen. Tina Smith, a Republican from North Dakota, asked Powell if he saw “a path for inflation to continue to slow without seeing significant … Read more
46 minutes ago Japanese trading houses rise after Buffett raises stakes Japanese trading houses jumped at the open on Tuesday after Berkshire Hathaway increased its stake in five Japanese trading firms to more than 8.5% on average. Mitsui jumped 4.55%, Marubeni gained 3.44% and Mitsubishi rose nearly 4% while Itochu and Sumitomo rose nearly 3% … Read more
The European Central Bank raised interest rates on Thursday, after the Federal Reserve opted to take a break. A few days earlier, the Chinese central bank had lowered its main medium-term key rates and, in Japan, the central bank left its ultra-accommodative policy unchanged. “Given the different stages of the jurisdiction cycle, there will be … Read more
French President Emmanuel Macron attended the country’s premier tech event, Viva Tech. Macron told CNBC that France would “invest like crazy” in AI Nathan Laine | Bloomberg | Getty Images PARIS – France is making a major push to position itself as the European hub for artificial intelligence, building on the fast-growing and high-profile technology. … Read more
Goldman Sachs lowered its forecast for China’s gross domestic product for the full year from 6% to 5.4%. Goldman Sachs’ latest revision follows companies like UBS, Bank of America and JPMorgan all lowering their estimates of China’s GDP for the full year. Goldman Sachs economists said there are a host of macroeconomic issues facing the … Read more
An hour ago CNBC Pro: Global stocks are soaring. Analysts love these names – giving an over 80% upside US stocks aren’t the only ones to soar this year. Some global indices followed these gains and climbed. Analysts are still bullish on parts of the US market, but some expect international markets to do better … Read more
JD.com has become the latest Chinese tech giant to announce plans for a ChatGPT-style product, joining the hype around chatbot technology. Qilai Shen | Bloomberg | Getty Images Chinese consumers bought billions of items during China’s first major online shopping festival after emerging from the pandemic as merchants slashed prices, but analysts say consumer confidence … Read more
Bitcoin rallied to end the week following a surprise move by BlackRock that gave a much-needed boost of confidence to the crypto industry, which has been crushed by the weight of SEC actions for several years. weeks now. Bitcoin ended this week slightly negative, down 0.21%, at $26,355.04. Coin Metrics measures a week in crypto, … Read more
Interest rates are expected to remain high for the foreseeable future, which has made mortgages more expensive. Experts say there is a strategy that can help buyers lower their monthly costs. More and more buyers are opting to purchase mortgage points as a means of paying higher monthly payments. As interest rates climbed, homebuyers faced … Read more
