Month: July 2022

The Federal Reserve raised the target federal funds rate by another 0.75 percentage points at the end of its two-day meeting Wednesday, in an effort to curb unrelenting inflation. Fed officials have already raised benchmark short-term borrowing rates 1.5 percentage points this year, including June’s 75-basis point increase, which marked the largest increase in nearly three decades. The
0 Comments
The Conservative Party in the United Kingdom is in the process of determining its new leader as Prime Minister Boris Johnson exits the stage. The new Conservative Party leader will be the next UK Prime Minister. The process has narrowed the field to two candidates: former Chancellor of the Exchequer Rishi Sunak and Foreign Secretary Liz
0 Comments
Boeing’s Starliner spacecraft is seen before docking with the International Space Station on May 20, 2022 during the uncrewed OFT-2 mission. NASA Boeing disclosed a charge of $93 million in the second quarter from its Starliner astronaut capsule program, bringing the program’s overrun costs to nearly $700 million. The aerospace giant said the latest charge
0 Comments
Top officials at the Federal Reserve were seeing inflation data come in very hot for months before policymakers moved to wind down monetary policies that were stimulating the economy. A chorus of analysts, economists and former policymakers have chimed in, saying that was a mistake. “The forward guidance, overall, slowed the response to the Fed
0 Comments
Paul Bradbury | Ojo Images | Getty Images Federal student loan servicers have been told to hold off on sending out payment reminders to borrowers, according to two sources familiar with the matter. The development suggests the Biden administration could be considering extending the pandemic-era payment pause on federal student loans yet again. The policy,
0 Comments