Tech stocks, which have powered the broader market to fourth consecutive record closing highs, took a breather as traders booked profits on Amazon (AMZN), Apple (AAPL) — which have surged to new records. Facebook (FB), and Alphabet (GOOG, GOOGL) have also posted their highest-ever closing levels. Although the Nasdaq snapped a […]
inflation
Powell unveiled a new framework of thinking for the central bank that will tolerate inflation “moderately” above its 2% target. The Fed also committed to reviewing this policy every five years. The Fed chief warned that the persistence of low inflation over the last eight years risks new economic difficulties. “Many find […]
Inflation is top of mind right now for many consumers, businesses and investors. Responding to a recent Bank of America survey, asset managers around the world agreed that inflation is the number one market risk, displacing COVID-19 for the first time since February 2020. Another survey conducted this month found that over three […]
Federal Reserve Chairman Jerome Powell Al Drago-Pool/Getty Images Text size Don’t expect much from this week’s Federal Reserve policy meeting—or any meeting for the rest of this year, at least. America’s monetary-policy makers are comfortable with where they’ve put interest rates and have deliberately set a high bar for making […]