Economy

When Will Interest Rates Rise? Fed Chair Says ‘No Time Soon'

4 days ago   |   By NY Times

Jerome H. Powell, chair of the Federal Reserve, said the central bank remained far from dialing back support for the economy.
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Monetary stimulus will remain in place well into economic recovery, Fed Chair Powell says

Monetary stimulus will remain in place well into economic recovery, Fed Chair Powell says

4 days ago   |   By Business Insider

Summary List Placement Those worrying the Federal Reserve will prematurely rein in monetary stimulus have little to fear, Fed Chairman Jerome Powell said Thursday.
As COVID-19 vaccines roll out across the country, investors and economists have looked to Fed officials for any hints as to when its extremely accommodative policy stance could reach its conclusion. The central bank is currently buying $120 billion worth of Treasurys and mortgage-backed securities each month to ease market functioning, and its benchmark interest rate remains near zero to encourage borrowing.
An unexpected...
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Powell signals Fed will keep aiding economy with bond buying

5 days ago   |   By Chron

WASHINGTON - Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S. economy and stressed that any such pullback would be signaled far in advance.
During an online discussion hosted by Princeton University, from which Powell earned his undergraduate degree, the Fed chair said the recovery of the economy from the pandemic recession “is far from our goals." The Fed had said after its last policy meeting last month that it would continue to buy $120 billion in bonds each month until the economy made...
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Watch Fed Chair Jerome Powell live in a Q&A on the economy

5 days ago   |   By CNBC

Federal Reserve Chairman Jerome Powell speaks Thursday in a virtual chat hosted by the Princeton University Bendheim Center for Finance.
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This pitch deck won cloud backup firm Rewind $15 million in funding

This pitch deck won cloud backup firm Rewind $15 million in funding

Summary List Placement Rewind, the Canadian cloud backup startup, just raised $15 million in a Series A funding round led by Inovia Capital. Founded in 2015, Toronto-based... Read more ...

Yellen pushes GOP senators on $1.9 trillion relief package

Yellen pushes GOP senators on $1.9 trillion relief package

WASHINGTON - Janet Yellen, President-elect Joe Biden's choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its... Read more ...

How businesses and workers can prepare for shifting employment regulation...

How businesses and workers can prepare for shifting employment regulation under the Biden administration

Summary List Placement Policies and regulations shift any time there's a new president, but legal and policy experts expect that the incoming Biden administration will usher in... Read more ...

Europeans Increasingly Eager to Travel During Spring 2021 As Covid-19...

Europeans Increasingly Eager to Travel During Spring 2021 As Covid-19 Vaccine Rollout Begins

Despite continuing lockdowns, Europeans are progressively interested in trips during the second quarter of 2021 as COVID-19 vaccines are rolled out. That is according to the... Read more ...

BlackBerry jumps 20% after settling patent dispute with Facebook

BlackBerry jumps 20% after settling patent dispute with Facebook

Summary List Placement BlackBerry shares spiked as much as 20% Tuesday after the company announced it settled a patent infringement suit with Facebook. The terms of the... Read more ...

Microsoft is the latest investor to join GM's Cruise in a round that values...

Microsoft is the latest investor to join GM's Cruise in a round that values the self-driving firm at $30 billion

Summary List Placement General Motors and its self-driving subsidiary Cruise on Tuesday announced a new deal with Microsoft to speed up the commercialization of autonomous... Read more ...

Coherent skyrockets 33% after Lumentum announces $5.7 billion acquisition of...

Coherent skyrockets 33% after Lumentum announces $5.7 billion acquisition of rival laser maker

Summary List Placement Shares of Coherent skyrocketed 33% Tuesday after rival laser maker Lumentum announced it will acquire the company in a cash and stock deal. The $5.7... Read more ...

Muir, Autograph Collection Hotel to Open on the Halifax Waterfront

Muir, Autograph Collection Hotel to Open on the Halifax Waterfront

Muir, Autograph Collection opens on the Halifax waterfront in the summer of 2021, promising a refined, distinctly Nova Scotian hospitality experience with stunning waterfront... Read more ...

The Biden rescue plan could boost 2021 GDP growth to 11.4%, JPMorgan global...

The Biden rescue plan could boost 2021 GDP growth to 11.4%, JPMorgan global chief strategist says

Summary List Placement President-elect Joe Biden's $1.9 trillion rescue plan could boost nominal GDP growth to 11.4% year-over-year by the end of 2021, says JPMorgan's David... Read more ...

AMC soars 37% after issuing $100 million in debt to stave off bankruptcy

AMC soars 37% after issuing $100 million in debt to stave off bankruptcy

Summary List Placement AMC soared as much as 37% on Tuesday after revealing it raised $100 million in a new debt offering. The theater chain issued new debt due in 2026 at a... Read more ...