The Daily Chase: Investors navigate interest rate risks; Ethereum 'Merge' on the horizon
BNN Bloomberg
The inflation-triggered rout in North American equity markets eased overnight.
And consider this comment from renowned investor Mark Mobius in an interview with our Bloomberg Television partners: “The Fed has a game plan. Their game plan is to make sure that the interest rate is higher than inflation. That's the way — they believe the way — to kill inflation. So, you have eight per cent CPI. That means you have to have nine per cent interest rates.”
ANOTHER INFLATIONARY THREAT
The U.S. is still bracing for a large-scale strike by rail workers, and railways are preparing to start throttling service later today to prepare for the possible disruption. In a media briefing yesterday, White House Press Secretary Karine Jean-Pierre said the White House has been “crystal clear” with the unions and rail companies about the stakes for the economy (including with President Joe Biden calling the principal parties earlier this week). She added that contingencies are being discussed with truckers and air freight service providers.
