Hub News

Fed sees more rate hikes ahead, but at a slower pace, meeting minutes show

Federal Reserve officials indicated during their June meeting that further tightening is likely, though slower than the rapid rate increases that have characterized monetary policy since early 2022. Policymakers decided against a rate rise amid concerns about economic growth, even

Powell says more ‘restrictions’ are coming, including hikes at consecutive meetings.

Jerome Powell, the chairman of the Federal Reserve, said at a forum Wednesday that he expects considerable interest rate increases in the near future. “We believe there’s more restriction coming,” Powell said during a monetary policy session in Sintra, Portugal.

Bitcoin rallies to touch highest level since April as traders get bullish on ETF news

Traders got excited about the prospect of a spot bitcoin ETF following recent applications from companies like BlackRock, which raised Bitcoin’s price to its highest level since April. The flagship cryptocurrency touched $30,749.45, its highest level since April 14, according

SEC Chair Gensler doubts the need for more digital currency

Gary Gensler, chair of the Securities and Exchange Commission, took a swipe Tuesday against cryptocurrency and other digital tokens, arguing they are essentially unnecessary in the modern economy.

Goldman Sachs is cutting jobs again amid Wall Street deals slump

Wall Street firms are adjusting to a slump in deal activity as Goldman Sachs prepares for its third round of layoffs since September. A person with knowledge of the bank’s plans said Tuesday that the company

JPMorgan and Barclays back $4.5 billion insurance tech giant Wefox

Wefox, a German digital insurer, announced Wednesday it secured $110 million in new funding from JPMorgan and Barclays. Despite macroeconomic headwinds, the news represents a vote of confidence

Fed increases rates a quarter point and signals a potential end to hikes

On Wednesday, the Federal Reserve approved its 10th interest rate increase in just over a year and hinted that the current tightening cycle is ending. A unanimous decision by the Federal Open Market

Customers of Bank of America are spending more, supporting U.S. employment

Bank of America’s CEO Brian Moynihan says customers spend freely on dining, entertainment and other experiences, which supports U.S. employment. The bank’s customers boosted spending

Credit Suisse chair pleads with angry shareholders at annual meeting

On Wednesday, XRP cryptocurrency surged as investors became increasingly confident that Ripple, a company closely associated with the token, would prevail in its ongoing legal battle with the Securities

Jeff Ubben speaks with Salesforce CEO as more activists target the software giant

According to sources, Jeff Ubben of Inclusive Capital had discussions with Marc Benioff, CEO of Salesforce, on Monday. Inclusive Capital holds a stake in the CRM giant.

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