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Tag: cuts

Biden administration demanding price cuts from grocery chains

President Biden’s administration has taken aim at grocery chains, sending out election-year proposals to lower prices on products ranging from milk to eggs to bread. “Our message is very clear, and the president will continue to lean into it. So if you’re a company that’s seeing input prices go down and you’re not passing those […]

Volvo cuts off Polestar funding despite fact it helped pioneer electric cars

Volvo said Thursday it has cut off funding for its electric vehicle subsidiary Polestar — despite the fact that it was one of the first automakers to embrace electric vehicles. Shares in the Swedish automaker soared more than 30% on Thursday as the company declared Volvo Cars was “committed to concentrating resources and developing an […]

Fed Says No To Imminent Rate Cuts

Fed counterattack of The Federal Reserve System Shocked On Wednesday, the central bank announced it would not cut rates until it was confident that inflation was heading toward 2%. The Fed said in a statement at the end of its two-day monetary policy meeting: “Until there is greater confidence that inflation is on a sustained […]

Federal Reserve Chair Jerome Powell shoots down hopes for imminent cuts

Federal Reserve Chairman Jerome Powell on Wednesday dashed Wall Street’s hopes for an imminent rate cut after central bank officials left interest rates unchanged at decades-high rates. “I think it’s unlikely that the committee will reach a level of confidence to cut rates by the March meeting, but we’ll have to wait and see,” Powell […]

No Interest Rate Cuts Soon

The Fed said Wednesday it does not expect any rate cuts in the near future and kept its interest rate target unchanged. The Fed said in a statement at the end of its two-day monetary policy meeting: “Until there is greater confidence that inflation is on a sustained path toward 2%, the Committee does not […]

Funding cuts threaten to make syphilis spike worse

The Centers for Disease Control and Prevention (CDC) reports that cases of syphilis 17% increase past year and 80% in the past 5 years. Experts warn of record outbreak as Congress plans to cut funding for workers fighting sexually transmitted diseases less likely to decline. Although syphilis was nearly eradicated in the United States in […]

Ken Griffin says Fed rate cuts possible in summer, blasts Biden

Citadel founder and billionaire investor Ken Griffin said Tuesday that containing U.S. inflation could prompt the Federal Reserve to start cutting interest rates this summer. The timing of a potential rate cut has been the subject of speculation and debate in the market in recent months. Most traders expect the central bank to start cutting […]