Advertisement
Associated Press
Powell’s stark message: Inflation fight may cause recession
The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the Fed’s goal of engineering a “soft landing” — in which it would manage to slow growth enough to curb inflation but not so much as to cause a recession — looks increasingly unlikely. “The chances of a soft landing,” Powell said, “are likely to diminish” as the Fed steadily raises borrowing costs to slow the worst streak of inflation in four decades.
Reuters
Big U.S. banks’ prime rate soars to highest since 2008 financial crisis
Three major U.S. banks are raising their prime lending rates to the highest levels since the global financial crisis of 2008, following a hefty interest rate hike by the U.S. Federal Reserve. JPMorgan Chase & Co, Citigroup Inc and Wells Fargo & Co said on Wednesday the new rates, including the latest 75 basis point hike, would take effect on Thursday.
Barrons.com
The Fed Signals More Pain. Volatility Is Sticking Around Too.
More job cuts in tech as Fed sees unemployment rising, existing home sales have dropped seven straight months, BP refinery explosion in Ohio leaves two fatalities, and other news to start your day.
The Hill
NATO chief says Putin has made ‘big miscalculation’ following troop announcement
NATO Secretary General Jens Stoltenberg said Russian President Vladimir Putin has miscalculated his strategy in the war with Ukraine following Putin’s announcement that he is mobilizing 300,000 new troops to the country. “The speech of President Putin demonstrates that the war is not going according to President Putin’s plans. He has made a big miscalculation,” Stoltenberg…
Motley Fool
Worried About the Stock Market? Take Warren Buffett’s Advice and Do This
Billionaire investor Warren Buffett has seen downturns, recessions, market crashes, and all sorts of adversity in the markets over the years. Investors who are worried about the markets today should heed the Oracle of Omaha’s advice and simply bet on America. Three U.S.-based stocks that investors can buy to bet on America are Seagen (NASDAQ: SGEN), T-Mobile US (NASDAQ: TMUS), and Coca-Cola (NYSE: KO).
MarketWatch
Bitcoin has reached bottom and could go back above $60,000 ‘some time in the next 4 years,’ says MicroStrategy’s Michael Saylor
Michael Saylor, chairman and co-founder of MicroStrategy Inc. (MSTR) said bitcoin could go back to $68,990, its peak reached in November “sometime in the next four years,” and could reach $500,000 in the next decade if it matches the market cap of gold. MicroStrategy is also making developments on the Lightning network, a payment protocol layered on the Bitcoin network, Saylor told MarketWatch Editor-in-Chief Mark DeCambre at the Best New Ideas in Money Festival Wednesday. “We’re building Lightning wallets that can be deployed to enterprises, say that you can give it (bitcoin) to 1,000 of your employees in an afternoon, or lightning walls where you can wrap your websites with a layer of digital energy to protect it from cybersecurity attacks,” Saylor said.
BuzzFeed
21 Famous People Who’ve Opened Up About Being Single In Hollywood
Selena Gomez said, “I can’t meet someone and know if they like me for me. To be honest, I just want to start over. I want everything to be brand-new. I want someone to love me like I’m brand-new.”View Entire Post ›
Benzinga
5 High-Dividend REITs Now Trading Below Book Value
The following real estate investment trusts (REITs) are interesting because each one bears a balance sheet not too different from those considered desirable in Benjamin Graham’s classic “The Intelligent Investor.” Graham, of course, is deemed the father of value investing and greatly influenced Warren Buffett, his student at Columbia University. Each of these REITs is trading at a discount to book value, and each one is paying a dividend of some kind. Obviously, there’s a lot more to consider bu
Comments