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What does the biggest U.S. rate hike in 22 years mean?

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The U.S. Federal Reserve has raised interest rates by its steepest increment in 22 years

The committee voted unanimously to increase the key interest rate by a half percentage point.

The Fed says it’s committed to shrinking its balance sheet and tightening monetary policy to get a grip on soaring inflation in America.

Chair Jerome Powell began with a powerful message for the American people, saying combatting high inflation is job number one.

He added that additional half-percentage-point rate hikes will be on the table for the next few meetings. But the bank isn’t looking to go bigger.

“A 75 basis point increase is not something the committee is actively considering,” Powell told reporters.

“If inflation comes down we’re not going to stop, we’re just going to go down to 25 basis point increases.”

Market analyst Octavio Marenzi says normally Wall street would respond negatively to a rate rise, but not today

Holly is an anchor and reporter at Ticker. She's experienced in live reporting, and has previously covered the Covid-19 pandemic on-location. She's passionate about telling stories in business, climate and health.

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When London’s Heathrow airport is set to end daily passenger limits

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London’s Heathrow airport is set to end its daily passenger limits on departures

Ending at the end of this month, The Wall Street Journal is reporting that airlines have already been told about the changes.

Of course, this follows a turbulent summer of travel in the northern hemisphere, where staff shortages have plagued the sector.

To deal with the staffing crisis, Heathrow capped the number of passenger departures at 100-thousand a day.

But the cap was extended from July into October in a desperate bid to limit queues and baggage delays.

The sector has been crippled by the pandemic and labor shortages, with many airports and airlines struggling to hire enough staff to deal with the increased demand.

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Hacking saga hits Australia’s biggest telco

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As millions deal with the fallout from the Optus data breach, a third party company has leaked the information of Telstra employees

Up to 30,000 names and email addresses of past and present Telstra staff were uploaded online.

It’s understood it’s the same forum where an Optus breach was shared last week.

While no customer data has be lost, Telstra says it is aware of the breach, which contains employee information from 2017.

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Government-backed crypto could threaten the U.S. economy, report finds

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Government-backed cryptocurrencies could threaten the U.S. economy, that’s according to a new report

The Treasury Department believe that prices crypto are set by market speculation and don’t have much economic reality.

It’s found crypto-asset firms intersect with entities that have risky business profiles.

Treasury believes this is a concern for the U-S financial system.

Of course, Bitcoin is just one digital coin to swing and los much of its value since the start of this year.

But advocates think these stable-coins could be less volatile than traditional currencies.

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