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U.S. Federal Reserve continues its assault on inflation

Published

1 year ago

November 3, 2022

The Central Bank ushers in its sixth increase this year

In an effort to lower runaway inflation, the U.S. Federal Reserve hiked interest rates by three-quarters of a percentage point.

This is the sixth increase this year — with the fed indicating that more raises are on the way.

The U.S. central bank’s move also boosted its key short-term rate to a range of 3.75% to 4%, marking its highest level in 15 years.

Acknowledging that the economic stress of their action over the past several months, Federal Reserve officials also urged patience, warning that interest rate hikes take time to work.

Fed chairman Jerome Powell said it would be “very premature” to think about having a pause in rate increases.

Additionally, Powell noted he does expect rates to peak at a more substantial level than policymakers had originally predicted back in September.

As inflations looms over the all-important midterm elections next week, Powell said that rates would “have to go higher and stay higher for a while.”

His new statement could make achieving his so called “soft landing” harder as its heightening the risk of a recession.

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Veronica Dudo

Veronica Dudo is the U.S. Correspondent for Ticker News covering America’s biggest headlines. As an Emmy® Award nominated global journalist, Veronica has traveled across the country and around the world reporting on historical events that connect all citizens. Lauded as an award-winning international journalist, Veronica has executed stellar news coverage for NBC News, CBS News, The Hill, ME-TV Network and AOL. Her stories have highlighted a plethora of topics ranging from breaking news and politics to economic affairs across the USA, European Union, and Asia; cultural affairs; globalization; governance; education; and sustainability.

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President Biden signs TikTok bill – what’s next?

Published

14 hours ago

April 26, 2024

ticker NEWS

TikTok users could soon find that the popular social media service is either under new ownership or could be outright banned in the United States.

President Joe Biden signed a bill into law that requires TikTok to find a new owner—or face a ban in the United States.

Over the past several months, Washington D.C. has been under pressure to ban the popular Chinese-owned social media app.

Lawmakers and security experts have long raised concerns that the Chinese government could tap TikTok’s trove of personal data about millions of U.S. users.

TikTok’s CEO said the bill is disappointing and reiterated that the company has committed to challenge it.

David Zhang from China Insider. joins Veronica Dudo to discuss

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Threading the needle: Meta’s new platform finally dethrones X

Published

16 hours ago

April 26, 2024

ticker NEWS

Threads, the social media platform owned by Meta, is gaining traction with a surge in daily active users, outpacing X in the U.S.

With Threads averaging 28 million daily active users compared to X’s 22 million, Meta’s ambitions to reach a billion users seem within reach despite a slowdown in growth. While X still boasts 550 million monthly active users globally, Threads’ focus on user experience and avoidance of real-time and political content could position it as a formidable competitor moving forward.

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Zendaya is serving in saucy sports drama “Challengers”

Published

17 hours ago

April 26, 2024

ticker NEWS

This weekend’s entertainment lineup has something for everyone.

Apple TV+ brings “Sugar,” a drama set in New York City, while “Civil War” offers historical intensity.

“Challengers” with Zendaya brings a saucy sport drama to life, and superhero buffs can catch the trailer for “Deadpool and Wolverine” for action-packed fun.

With options spanning drama, history, reality, and superheroes, there’s excitement in store for all this weekend.