Rising interest rates crushed technology valuations and had a chilling effect on Silicon Valley. Stripe’s co-founder says it was needed. “Broadly speaking, the effects of higher rates have been quite good,” John Collison, president of the online payments company, told CNBC in an interview at the company’s annual conference Wednesday. “The period where money was … Read more
US Federal Reserve Board Chairman Jerome Powell arrives to testify at a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report,” on Capitol Hill in Washington, DC, March 6, 2024. Mandel Ngan | Afp | Getty Images With the economy humming along and the stock market, despite some recent twists and … Read more
The Japan flag is juxtaposed against a Japanese yen bank note. Javier Ghersi | Moment | Getty Images The yen slipped past 155 against the U.S. dollar on Thursday, touching a new 34-year low against continued strength in the greenback. The weakness comes as the Bank of Japan is due to release its monetary policy … Read more
From relentless rally to persistent pullback, five straight winning months without a 2% decline were then followed by three straight down weeks, featuring a rare six-day S & P 500 losing streak and five successive sessions last week of failed intraday rallies. As with all market retrenchments from a record high, the current 5.5% setback … Read more
Federal Reserve Chair Jerome Powell speaks during a House Financial Services Committee hearing on the “Federal Reserve’s Semi-Annual Monetary Policy Report” on Capitol Hill in Washington, U.S., March 6, 2024. Bonnie Cash | Reuters If there was any doubt before, Federal Reserve Chair Jerome Powell has pretty much cemented the likelihood that there won’t be … Read more
Financial Counsellor and Director of the Monetary and Capital Markets Department Tobias Adrian hold the press briefing of the Global Financial Stability Report at the International Monetary Fund during the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC, United States on April 16, 2024. Anadolu | … Read more
Planet Fitness stock slips after naming new CEO Shares of Planet Fitness were nearly 4% lower on Tuesday after the company announced Colleen Keating would assume the CEO role effective June 10. Stock Chart IconStock chart icon Planet Fitness stock. Keating comes to Planet Fitness after serving as chief executive of FirstKey Homes since 2020. … Read more
Federal Reserve Chair Jerome Powell speaks during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, D.C., on Dec. 13, 2023. Kevin Lamarque | Reuters Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has … Read more
Just weeks ago, it all felt so easy. Jerome Powell was poised to kick off the great monetary pivot in earnest thanks to the steady demise of inflation, while Corporate America’s famous profit machine vindicated the euphoria on Wall Street and beyond. Now after a week of geopolitical tensions and bond volatility, life is getting … Read more
U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida on Wednesday unveiled plans for military cooperation and projects ranging from missiles to moon landings, strengthening their alliance with an eye on countering China and Russia. Mandel Ngan | AFP | Getty Images U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida on Wednesday unveiled plans for military cooperation and projects … Read more
