Federal Reserve hikes interest rates for the first time since 2018
CNN
The Federal Reserve is raising interest rates for the first time since 2018, the central bank announced Wednesday at the conclusion of its highly anticipated two-day monetary policy meeting.
The move marks the end of the Fed's pandemic-era easy money policy and comes amid soaring inflation across America. The federal funds rate now stands at 0.25-0.5%.
The quarter-percentage-point increase had been well telegraphed by the central bank, with Chair Pro Tempore Jerome Powell hinting at it repeatedly over the past few months. Earlier this month, Powell told lawmakers that he favored a quarter-point raise.
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A new rule by the Federal Communications Commission will make it impossible for US consumers to buy the next generation of foreign made drones, including DJI.
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Paramount has upped the ante in its hostile takeover bid for Warner Bros. Discovery, announcing Monday that Larry Ellison will personally guarantee the tens of billions of dollars he is putting up to bankroll the transaction. The Ellisons will also let shareholders peer into the finances of their family trust.
Thieves are increasingly targeting the copper wires that keep America’s power grids and phone networks running.
You don’t get labeled the “Oracle of Omaha” for nothing.
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Popular Kentucky bourbon maker Jim Beam plans to pause production at its main distillery next year, according to the James B. Beam Distilling Company.