U.S. ports are receiving multimillion dollar grants to upgrade cargo handling infrastructure. The grants are part of the Biden administration’s $21 billion commitment to modernize port infrastructure in the U.S. Midsize port cities such as Baltimore are among the 2023 grant recipients. In November, the Port of Baltimore received a $47 million grant to kick-start … Read more
The central government has complete power with a clear mandate, but directives from the Centre have to be executed well at the state level. So, there are many things that are still not in Modi’s hands, says Raamdeo Agrawal, Joint Managing Director, Motilal Oswal Financial Services in an interview with Narendra Nathan and Sanket Dhanorkar. … Read more
ET Now caught up with KV Kamath, Chairman, ICICI Bank, for his expectations from the Narendra Modi government as well as the Budget. Excerpts: ET Now: Talking of expectations from Narendra Modi, do not you think too much hope and money in essence is riding behind one man? Despite his good intentions, there are structural … Read more
U.S. President Joe Biden delivers remarks during an event to celebrate the anniversary of his signing of the 2022 Inflation Reduction Act legislation, in the East Room of the White House in Washington, U.S., August 16, 2023. Kevin Lamarque | Reuters In recent weeks, President Joe Biden has been doing everything he can to point … Read more
Treasury yields fell on Thursday as investors digested guidance issued by the Federal Reserve about the outlook for interest rates as its final policy meeting of the year concluded Wednesday. At 4:34 a.m. ET, the yield on the 10-year Treasury was down by over nine basis points to 3.9357%, below the 4% mark. It was … Read more
Thomas Barwick | Stone | Getty Images Inflation has been falling gradually across the U.S. economy. This process, known as disinflation, means prices for consumer goods and services are rising but at a slower pace than they had been. However, inflation has actually turned negative in some sectors, like energy. Deflation, as this dynamic is … Read more
By Stan Choe | Associated Press NEW YORK — A powerful rally across Wall Street sent the Dow Jones Industrial Average to a record on Wednesday after the Federal Reserve indicated that the cuts to interest rates investors crave so much may be coming next year. The Dow jumped 512 points, or 1.4%, to top … Read more
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve on December 13, 2023 in Washington, DC. Win Mcnamee | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to … Read more
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve on December 13, 2023 in Washington, DC. Win Mcnamee | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to … Read more
Washington: The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, a sign that it is likely done raising rates after having imposed the fastest string of increases in four decades to fight painfully high inflation. The Fed’s policymakers also signaled that they expect to make three quarter-point cuts to … Read more
