One of the more talked-about economic topics over the past year has been inflation and the Federal Reserve’s (Fed) response (or lack thereof, rather). During the last Federal Open Market Committee (FOMC) meeting in July, the Fed kept rates steady for the second consecutive time under new Fed Chair Kevin Warsh.
That said,
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Calls for a slowdown in artificial intelligence development sparked a global sell-off in technology stocks on Monday, as investors fretted over the sustainability of spending in a sector that has driven financial markets to record highs.
The tech-heavy Nasdaq Composite Index slumped roughly 1% in early trading,
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Following hot inflation data last week, there is now a high likelihood that the Federal Open Market Committee (FOMC), which dictates monetary policy for the Fed, will raise interest rates by a quarter point when its meeting concludes on Sept. 16.
According to CME Group’s FedWatch tool, which uses 30-day federal funds futures prices to track the probability of a change in the Fed’s benchmark rate,
The Brief
AARP estimates that Social Security benefits could receive a cost-of-living increase in 2027.
The final adjustment will depend on inflation data from July through September.
The official increase will be announced after the required data is released.
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Larry Ellison just canceled a plan to sell billions in Oracle stock, but the market is punishing shares anyway as a surprise cost disclosure threatens to overpower what should have been a bullish insider signal.
Shares of Oracle (NYSE:ORCL | ORCL Price Prediction) are sliding in early Monday trading after the company disclosed that layoff costs would run meaningfully higher than previously flagged,
The Federal Reserve appears ready to do something it hasn’t done in three years: raise interest rates. And the timing couldn’t be more politically combustible.
With the September 15-16 FOMC meeting approaching, markets are pricing in an 85-90% probability that the Fed will increase the federal funds rate by 25 basis points from its current 3.50%-3.75% range.
It’s been a rough few weeks for the stock market, and the future could be even rockier.Oil prices are soaring amid increased tension in the Middle East. A discouraging inflation report this week puts more pressure on the Federal Reserve to raise interest rates. Bond market mayhem is rattling investors, as yields reach their highest levels in years.
Anthropic (ANTH.PVT) CEO Dario Amodei rocked the AI world over the weekend after he posted a lengthy essay calling on the industry to slow the pace of development of the most advanced AI models. Rival OpenAI (OPAI.PVT) CEO Sam Altman followed up on Amodei’s piece, which he published Saturday morning, via a post on X saying that he agrees with Anthropic’s chief executive.
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President Donald Trump said on Sunday that the US should have the world’s lowest interest rates, piling pressure on Federal Reserve Chair Kevin Warsh days before the bank is expected to raise them amid an increasingly hawkish global outlook. Trump’s call comes on the heels of a hotter-than-expected US inflation reading for August and an unexpectedly strong jobs report,
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