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June inflation data expected to stay hot amid high gas prices Raising interest rates is the main tool to reverse inflation by making a whole host of lending — from mortgage rates to auto loans — more expensive, which then slows demand and cools off the economy.
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Delta earnings fall far short of expectations because of high fuel costs and service problems Delta posted adjusted earnings of $735 million in the second quarter, its biggest profit since the start of the pandemic. But analysts surveyed by Refinitiv had expected earnings of $1.1 billion for the airline. Shares fell 6% in morning trading.
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Biden's top bank cop confirmed with strong bipartisan backing The Senate on Wednesday voted 66-28 to approve consumer advocate Michael Barr for the Federal Reserve's top regulatory job, where he's expected to bring a tougher approach to the nation's megabanks but also openness to new financial technology.
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Judge freezes assets of crypto hedge fund Three Arrows Capital A federal bankruptcy court has frozen the assets of Three Arrows Capital, the once-prominent crypto hedge fund that managed as much as $10 billion in assets until it fell into liquidation last month. In an emergency hearing Tuesday, Judge Martin Glenn ...
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Why the US inflation surge is accelerating, and when it may ease The United States has endured worse inflation before, but not in many decades. The post-World War II inflation peak reached nearly 20 percent in 1947, a result of the lifting of wartime price curbs, supply shortages and pent-up consumer demand.
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Sidley Austin Hires Goodwin Hong Kong Private Equity Partner for Singapore Base The hire comes as the firm looks to "enhance" its leveraged finance offering to clients in Singapore and the wider Asia Pacific region. July 13, 2022 at 05:18 AM. 2 ...
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Monetary Policy Report Press Conference Opening Statement With these important considerations in mind, the Governing Council decided to front-load the path to higher interest rates today. This is our fourth consecutive interest rate increase since March. We know that higher interest ...
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Employers Weigh Inflation's Impact on Annual Pay Raises, SHRM Survey Shows Most HR professionals are concerned about the effects of inflation on their organizations, including how inflation will affect annual pay raises for the remainder of 2022, according to new findings from the Society for Human Resource Management (SHRM) ...
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