Wall Street Today | Fed Minutes Show Concerns of More Persistent High Inflation
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Fed Minutes Show Concerns of More Persistent High Inflation
Federal Reserve officials expressed concern at their meeting last month over the persistence of high inflation, underscoring their intention to continue raising interest rates in large steps despite the pain that could cause.
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Kashkari Says Bar for Fed Policy Pivot on Rates Is 'Very High'
The bar for a Federal Reserve pivot away from monetary policy tightening is "very high" because Fed has not yet seen much evidence that the underlying inflation -- the services inflation, the wage inflation, the labor market -- that that is yet softening, Minneapolis Fed President Neel Kashkari said.
US Producer Price Growth Tops Forecasts, Keeping Pressure on Fed
Prices paid to US producers rose in September by more than expected, suggesting inflationary pressures will take time to moderate and keeping the Federal Reserve on its aggressive interest rate-hike path. PPI for final demand rose 0.4% in September, estimate was 0.2%. Advance is driven by services, food and energy, core PPI up 0.3%.
SECTORS
Yellen Worries Over Loss of 'Adequate Liquidity' in Treasuries
"We are worried about a loss of adequate liquidity in the market," Yellen said Wednesday, "The balance-sheet capacity of broker-dealers to engage in Treasuries market-making hasn't expanded much, while the overall supply of Treasuries has climbed." Yellen also flags that Fed's standing-repo facility could help.
Global Energy Storage Market to Grow 15-Fold by 2030
Global installations of energy storage are expected to get a big boost thanks to sweeping climate legislation around the world, including in the US and the European Union. The capacity of storage systems will grow 15-fold by 2030, reaching 411 gigawatts, according to BloombergNEF, a research company.
COMPANY
Trump SPAC Stock Jumps After Google Adds Truth Social to Play Store
$Alphabet-A(GOOGL.US$ added Donald Trump's Truth Social app to its Play Store, making it available on Android phones. Shares of $Digital World Acquisition Corp(DWAC.US$, the company set to take Trump's media firm public, jumped 6% during after-hours trading.
AMC Struggles with Falling Stock, High Debt Load and Light Blockbuster Schedule
Shares of $AMC Entertainment(AMC.US$ fell to a 52-week low on Wednesday. The slump comes as shareholders and investors question the company's capital structure and overall business strategy.
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Microsoft Unveils Three New Surface Computers: Laptop, Tablet and PC
$Microsoft(MSFT.US$ on Wednesday unveiled three Surface computers, as the company celebrates the 10th anniversary of the Surface tablet. The Surface Pro 9 and 13.5-inch Surface Laptop 5 both start at $1,000, while the Surface Studio 2+ starts at $4,300.
Moderna and Merck Will Jointly Develop a Cancer Vaccine for High-Risk Melanoma Patients
$Moderna(MRNA.US$'s messenger RNA vaccine is being studied in combination with $Merck & Co(MRK.US$'s Keytruda to treat patients with high-risk melanoma, the deadliest form of skin cancer, in a phase two trial.
Source: Bloomberg, Dow Jones, CNBC
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meruson : printing lots of money based on trust is inflationary. if not why have to unwind fat balance sheet? how to unwind, have to increase interest rate then can unwind. have to look at cause of inflation from first principles like elon musk said. bonne journée.
lightfoot : Inflation, oh my I wondered why interest rates are climbing , food costs ridiculously high , gas prices = cost of shipping and transportation,. I have never seen a Whitehouse mess up a trash pile damn they did it.
lightfoot : The feds are our enemy with stupidity. Consumers can bring down high prices by being frugal, spend thrift and yes boycotts but they need leadership, yes they are stupid. Uneducated people. We are so damn stupid it makes me sick.