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Powell says he’s not worried about the Fed losing its independence under Trump
Key Points Fed Chair Jerome Powell said Wednesday he isn’t worried that President-elect Donald Trump will try to politicize the central bank once he takes office in January. There are safeguards in the congressional legislation that created the central bank that will help preserve it from political influences, he said during an appearance in New […]
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Watch live: Fed Chair Jerome Powell speaks at Dealbook conference
[The stream is slated to start at 1:40 om ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Wednesday at the New York Times DealBook conference. The appearances comes two weeks ahead of when the central bank will announce its decision on […]
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Intel considers an outside CEO, taps headhunters, sources say
Signage outside Intel headquarters in Santa Clara, California, on Jan. 30, 2023. David Paul Morris | Bloomberg | Getty Images Intel is considering hiring an external candidate to replace ousted CEO Pat Gelsinger and has hired executive search firm Spencer Stuart to identify potential successors, according to people familiar with the matter, who requested anonymity […]
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Fed Governor Waller says he is ‘leaning toward’ a December rate cut, but worries about inflation
Federal Reserve Governor Christopher Waller speaks during The Clearing House Annual Conference in New York City on Nov. 12, 2024. Brendan Mcdermid | Reuters Federal Reserve Governor Christopher Waller said Monday he is anticipating an interest rate cut in December but is concerned about recent trends on inflation that could change his mind. “Based on […]
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Stocks making the biggest moves midday: Advance Auto Parts, Robinhood, chip equipment makers and more
Check out the companies making headlines in midday trading: Chip equipment stocks — Global chip equipment stocks rose on news that the Biden administration is considering further sanctions on sales of semiconductor equipment and artificial intelligence memory chips to China that could be less strict than earlier proposals. Shares of U.S.-based companies Applied Materials and […]
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Fed’s preferred inflation gauge rises to 2.3% annually, meeting expectations
Inflation edged higher in October as the Federal Reserve is looking for clues on how much it should lower interest rates, the Commerce Department reported Wednesday. The personal consumption expenditures price index, a broad measure that the Fed prefers as its inflation gauge, increased 0.2% on the month and showed a 12-month inflation rate of […]
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China’s industrial profits fall by 10% in October as deflation worries linger
A large number of machinery and vehicles are ready for shipment at the dock of the Oriental Port Branch of Lianyungang Port in Lianyungang, China, on September 27, 2024. Costfoto | Nurphoto | Getty Images China’s industrial profits dropped by 10% in October from a year ago, in another sign that Beijing’s stimulus measures have […]
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Fed officials see interest rate cuts ahead, but only ‘gradually,’ meeting minutes show
Federal Reserve officials expressed confidence that inflation is easing and the labor market is strong, allowing for further interest rate cuts albeit at a gradual pace, according to minutes from the November meeting released Tuesday. The meeting summary contained multiple statements indicating that officials are comfortable with the pace of inflation, even though by most […]
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Databricks closes in on multibillion funding round at $55 billion valuation to help employees cash out
Ali Ghodsi, co-founder and chief executive officer of Databricks Inc., speaks during a Bloomberg Technology television interview in San Francisco on Oct. 22, 2019. David Paul Morris | Bloomberg | Getty Images One of the world’s most valuable private tech companies is raising billions more in cash and is in no rush to go public, […]
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Amgen says obesity drug caused up to 20% weight loss after a year, with no plateau
The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023. Mario Tama | Getty Images Amgen on Tuesday said its experimental weight loss injection helped patients with obesity lose up to 20% of their weight on average after a year in a critical mid-stage trial, as the company races […]
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