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‘The Fed is breaking things’ – Here’s what has Wall Street on edge as risks rise around the world

‘The Fed is breaking things’ – Here’s what has Wall Street on edge as risks rise around the world

Jerome Powell, chairman of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, Sept. 23, 2022. Al-Draco | Bloomberg | Getty Images As the Federal Reserve ramps up efforts to tame inflation, sending the dollar surging and bonds and stocks into a tailspin, concern is rising that the central …

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Inflation accelerated even more than expected in August

Inflation in August was stronger than expected despite the Federal Reserve’s efforts to bring down prices, according to data Friday that the central bank follows closely. The personal consumption expenditures price index excluding food and energy rose 0.6% for the month after being flat in July. That was faster than the 0.5% Dow Jones estimate …

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How Asia’s richest person gave Bezos a run for his money

Gautam Adani has had a very good year. The Indian billionaire briefly surpassed Amazon founder Jeff Bezos to become the second-richest person in the world in September, according to Bloomberg. He’s now ranked as the world’s fourth wealthiest person. Outside Southeast Asia, Adani is hardly a household name. That might be changing now that he’s …

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Fed Vice Chair Brainard warns against retreating from inflation fight prematurely

US Federal Reserve board member Lael Brainard speaks after she was nominated by US President Joe Biden to serve as vice chair of the Federal Reserve, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, US, November 22, 2021. Kevin Lamarque | Reuters Federal Reserve Vice Chair Lael Brainard …

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Euro zone inflation soars to a record 10%, piling pressure on the European Central Bank

Christine Lagarde, European Central Bank (ECB) president addresses a news conference following the ECB’s monetary policy meeting in Frankfurt, Germany, September 8, 2022. Kai Pfaffenbach | Reuters Euro zone inflation hit a new record high of 10% in September, Eurostat data showed on Friday, up from 9.1% in August and above consensus projections of 9.7%. …

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NASA, SpaceX, Jared Isaacman studying Hubble telescope extension

This 1990 photograph shows the Hubble Space Telescope being deployed from the space shuttle Discovery on mission STS-31. Source: NASA SpaceX and billionaire astronaut Jared Isaacman are teaming up with the National Aeronautics and Space Administration to study whether a private mission could extend the life of the famous Hubble telescope. NASA signed an agreement …

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Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates, …

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US economy shrank in the first half of 2022, updated GDP figures confirm

The numbers: The US shrank in the first six months of the year, revised government figures confirm, and painted a picture of economy buffeted by strong headwinds and tailwinds. Gross domestic product, the official scorecard of the economy, fell at a 0.6% annual clip in the second quarter, the Bureau of Economic Analysis said Thursday. …

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10-year yield rises, reversing some of Wednesday’s major losses

Treasury yields climbed higher across the board on Thursday, with the 10-year note reversing some of the losses it made on Wednesday after the Bank of England launched a bond-buying plan designed to stabilize market chaos in the UK The yield on the benchmark 10-year Treasury was at 3.8420%, up by 13 basis points at …

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UK bond yields plunge after Bank of England steps in to buy at ‘whatever scale is necessary’

UK gilt yields fell back from their highest in 14 years after the Bank of England said it would buy bonds at “whatever scale is necessary” to restore orderly market conditions. The 10-year benchmark gilt yield TMBMKGB-10Y, 4.013%, which moves in the opposite direction to prices, fell 49 basis points to 4.03%, having at one …

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