News

U.S. Fed Reserve raises interest rates, hikes may be ending

Published

2 years ago

March 23, 2023

ticker NEWS

Jerome Powell has admitted a pause may be coming

Jerome Powell has announced interest rates in the U.S. will be going up by a quarter of a per cent.

The move will see rates move closer to the 4.75-5 per cent range.

The Fed has been raising rates since the middle of last year to try and get inflation down to a controlled level of two per cent.

Meanwhile, during the announcement, Powell acknowledged the central bank’s hikes may be coming to an end.

It follows a turbulent few weeks in the banking sector.

“We have to bring down inflation down to 2%,” he said. “There are real costs to bringing it down to 2% but the costs of failing are much higher.

“My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power, especially for those least able to meet higher costs of essentials.

“We believe however that events in the banking system over the past two weeks are likely to result in tighter credit conditions for households and businesses which would in turn affect economic outcomes,” Powell said.

Leaders

Niche accountants proving essential to e-commerce success

Published

3 hours ago

October 9, 2024

ticker NEWS

Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

#featured

Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

Published

8 hours ago

October 9, 2024

ticker NEWS

Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

Leaders

Israeli claims airstrikes have killed two successors to Hezbollah’s slain leader

Published

8 hours ago

October 9, 2024

ticker NEWS

The update comes as Israel expands its ground offensive against the Iran-backed group with a fourth army division deployed into south Lebanon.

Israel Prime Minister Benjamin Netanyahu spoke in a video released by his office hours after the deputy leader of Hezbollah left the door open to a negotiated ceasefire, reports Reuters

Israel’s military said on Tuesday that heavy air strikes against underground Hezbollah installations in southern Lebanon over the prior 24 hours killed at least 50 fighters including six sector commanders and regional officials. #featured #trending