Powell squashes the possibility that the Fed will develop its own digital currency

Key Points

Fed Chair Jerome Powell asserted Tuesday that the central bank will not develop its own digital currency as long as he is in charge, ending several years of speculation.
Over the years, multiple officials have raised concerns, with most saying there was no obvious need for a CBDC and citing concerns over privacy and other issues.

Source

Finance

Insiders at UnitedHealth are scooping up tarnished shares

May 16, 2025

Key Points UnitedHealth Group saw some of its insiders step in and purchase declining shares this week. Kristen Gil, a director at the firm, bought 3,700 shares worth roughly $1 million on Thursday. Shares of UnitedHealth plunged nearly 11% to $274.35 on Thursday following a report in The Wall Street Journal that the Department of Justice […]

Finance

Federal Reserve will reduce staff by 10% in coming years, Powell memo says

May 16, 2025

U.S. Federal Reserve Chair Jerome Powell departs after holding a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., U.S., May 7, 2025. Kevin Lamarque | Reuters The Federal Reserve will look to reduce its headcount by 10% over the next couple of years, including […]

Finance

Stocks making the biggest moves midday: Applied Materials, Novo Nordisk, Cava, Vistra and more

May 16, 2025

Check out the companies making headlines in midday trading. Applied Materials — Shares of the semiconductor manufacturer dropped 6% after Applied Materials posted disappointing fiscal second-quarter revenue. The company’s revenue of $7.10 billion was below the LSEG consensus of $7.13 billion. Semiconductor revenue of $5.26 billion also disappointed the $5.31 billion analysts were looking for. […]