European Central Bank holds interest rates steady after 10 consecutive hikes
The ECB ended its record run of rate hikes despite new upside risks to inflation.
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Inflation ticked up in July, reversing some progress in fight to slow price hikes
The fresh data arrived roughly two weeks after the Federal Reserve raised its benchmark interest rate another quarter of a percentage point.
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Something broke, but the Fed is still expected to go through with rate hikes
Markets still expect the Fed to keep up its inflation-fighting efforts, despite high-profile bank failures that have rattled the financial system.
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Ford again hikes the starting price of the F-150 Lighting pickup, now up 40% since launch
A new price increase of $ 4,000 means Ford has upped the entry-level pricing of the F-150 Lightning electric pickup by 40% since the vehicle’s launch.
U.S. News
Fed Chair Powell says smaller interest rate hikes could start in December
Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead.
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Starbucks CEO defends wage hikes as stock falls 7% on coffee chain’s weak earnings outlook
Starbucks CEO Kevin Johnson defended the coffee chain’s plans to hike wages for baristas, saying that the move will help the company gain market share.
U.S. News
Goldman hikes gold price forecast on debasement fears and a weaker dollar
Despite struggling for direction since its sharp gains at the height of the coronavirus crisis, Goldman Sachs analysts are backing gold to rally further on the back of debasement fears and a weakening dollar.
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5-year Treasury yield hits 3% following Powell’s comments on rate hikes