Nasdaq adds 1% as bond yields slip, Wall Street considers recession risk

The Nasdaq Composite added 1% as bond yields added to weigh risks, and Wall Street continued to recession. The Dow Jones Industrial Average rose 37 points, or 0.1%. The S&P 500 gained 0.4%. The tech-heavy Nasdaq outpaced the other averages as market participants continued to mull over the likelihood of an economic downturn, and as … Read more

Powell tells Congress the Fed is ‘strongly committed’ to bringing down inflation

Jerome Powell, chairman of the US Federal Reserve, arrives to a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Wednesday, June 22, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bring down inflation and … Read more

President Biden nominates Indian-American scientist Dr Arati Prabhakar to key White House role | India News

NEW DELHI: United States President Joe Biden has announced his intent to nominate Indian-American scientist Dr Arati prabhakar to serve as the director of the office of science and technology policy (OSTP), and once confirmed to this position, also as the assistant to the president for science and technology. In this capacity, Dr Prabhakar will … Read more

President Biden nominates Indian-American scientist to key White House role | India News

NEW DELHI: United States President Joe Biden has announced his intent to nominate Indian-American scientist Dr Arati prabhakar to serve as the director of the office of science and technology policy (OSTP), and once confirmed to this position, also as the assistant to the president for science and technology. In this capacity, Dr Prabhakar will … Read more

Powell vows that the Fed is ‘acutely focused’ on bringing down inflation

Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, US, June 15, 2022. Elizabeth Frantz | … Read more

Fed promises ‘unconditional’ approach to taking down inflation in report to Congress

US Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, June 15, 2022. Elizabeth Frantz | Reuters … Read more

Everyone knows inflation is on fire. Here’s what’s really fueling it

Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation doesn’t just happen at the gas pump and the grocery store. There are literally hundreds of avenues that filter into broader measures the government uses to gauge price increases. The big … Read more

quad: UN envoys from Quad meet in New York, discuss ways to strengthen rules-based international order | India News

NEW YORK: Less than a month after leaders of the Quad grouping met in Tokyo, envoys of Australia, India, Japan and the US at the United Nations (UN) met here and discussed ways to strengthen the rules-based international order and reinforce efforts at the UN to tackle global challenges. India’s Permanent Representative to the UN, … Read more

Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994

The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994. Ending weeks of speculation, the rate-setting Federal Open Market Committee took the level of its benchmark funds rate to a range of … Read more

Coinbase lays off 18% as execs prepare for recession, ‘crypto winter’

Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City. Steven Ferdman | Getty Images Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices. The cryptocurrency exchange will cut 18% of full-time jobs, according … Read more