Fed Chair Powell speaks on Capitol Hill this week with politics front and center

Fed Chair Powell speaks on Capitol Hill this week with politics front and center


Key Points
  • Federal Reserve Chair Jerome Powell heads to Capitol Hill this week, with testimony to Congress kicking off Tuesday morning as Powell presents the Fed’s monetary policy report.
  • Multiple White House officials have cranked up the heat on Powell to start lowering rates, and he’s now faced with two key Fed officials who have spoken out to say they could favor a cut in July.



Source

China releases AI action plan days after the U.S. as global tech race heats up
Finance

China releases AI action plan days after the U.S. as global tech race heats up

Key Points China on Saturday released a global action plan for artificial intelligence that called for international cooperation on tech development and regulation. Premier Li Qiang announced China has proposed the establishment of a global AI cooperation organization, according to an official readout. Former Google CEO Eric Schmidt met with Shanghai Party Secretary Chen Jining […]

Read More
Stocks making the biggest moves midday: Tesla, Intel, Deckers, Charter Communications and more
Finance

Stocks making the biggest moves midday: Tesla, Intel, Deckers, Charter Communications and more

Check out the companies making headlines in midday trading: Tesla – The electric vehicle maker’s stock jumped more than 4% after Business Insider reported that Tesla’s robotaxi service will debut in San Francisco as soon as this weekend. Even with the move, Tesla shares are down nearly 3% week to date. Charter Communications — The […]

Read More
Stocks making the biggest moves premarket: Intel, Centene, Deckers, Paramount and more
Finance

Stocks making the biggest moves premarket: Intel, Centene, Deckers, Paramount and more

Check out the companies making headlines before the bell: Intel — Shares of the chipmaker dropped more than 7% after Intel said it will cut 15% of its workforce and slashed plans for chip factory construction in an attempt to revitalize its artificial intelligence strategy. Intel topped second-quarter revenue results, posting $12.86 billion in revenue, […]

Read More