Federal Reserve Chair Jerome Powell recently delivered a keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming, signaling a shift in policy that may include interest rate cuts. Powell emphasized the need for policy adjustments, citing the evolving outlook and incoming data as determinants for the timing and extent of rate cuts. This
Finance
Philadelphia Federal Reserve President Patrick Harker has made it clear that he is in favor of an interest rate cut in September. Speaking at the Fed’s annual retreat, Harker emphasized the need to start the process of moving rates down in an effort to stimulate economic growth. This endorsement comes after minutes from the last
British technology entrepreneur Mike Lynch recently made headlines when he was acquitted of fraud charges in a landmark trial involving allegations made by Hewlett Packard. The trial centered around accusations that Lynch had artificially inflated the value of his company, Autonomy, when he sold it to HP for $11.7 billion in 2011. However, just two
Electric vehicles (EVs) have been touted as a cost-effective alternative to traditional gasoline-powered cars. While initial purchase prices may be higher for EVs, the overall lifetime cost could potentially be lower due to cheaper fuel and maintenance costs. Experts suggest that as battery prices continue to fall, EVs will eventually reach cost parity with gasoline
Investors looking to hedge against recent market volatility may find buffer ETFs to be a valuable asset. Bruce Bond, the CEO of Innovator ETFs, points out the advantage of buffer exchange-traded funds in providing protection from the market’s downside. According to Bond, this strategy caters to individuals who want market exposure without fully risking their
Zeekr, a Chinese electric car brand, has recently unveiled new batteries that are said to have the fastest charging capabilities in the world. This breakthrough in technology aims to address the long-standing concerns of consumers regarding battery range and charging convenience. The new batteries from Zeekr can go from a 10% to an 80% charge
China’s financial risks have seen a decrease, including those associated with local government debt, as stated by People’s Bank of China Governor Pan Gongsheng in recent state media interviews. The governor also emphasized that the central bank will collaborate with the Ministry of Finance to ensure that China achieves its full-year growth targets. It was
There has been a recent discovery in the investment world that has sparked curiosity among Warren Buffett’s followers. After cutting his holdings in Apple by half, Buffett now owns an equal number of shares in both Apple and Coca-Cola, standing at a round 400 million shares each. This unexpected alignment of share counts has led
Financial technology firm Klarna is making waves in the banking industry with the introduction of new products that aim to disrupt traditional retail banking. The company, known for its buy now, pay later loans, is expanding its offerings to include a checking account-like product and a cashback program. Klarna’s CEO and founder, Sebastian Siemiatkowski, highlighted
The recent sharp stock-market selloff due to recession fears has raised concerns among investors. The S&P 500 index experienced a 3% loss, which was the worst in almost two years. Weaker-than-expected job data has fueled these concerns, hinting at a possible downturn in the economy. The Federal Reserve’s goal of achieving a “soft landing” might