WASHINGTON (AP) — The Senate confirmed economist Lisa Cook on Tuesday to serve on the Federal Reserve’s board of governors, making her the first Black woman to do so in the institution’s 108-year history. Her approval was on a narrow, party-line vote of 51-50, with Vice President Kamala Harris casting the decisive vote. Senate Republicans […]
A selloff in a cryptocurrency that was supposed to be pegged to $1 accelerated Wednesday, briefly sending its price to less than a quarter of that value. TerraUSD traded as low as 23 cents Wednesday, according to data from CoinDesk. As of 2:43 pm ET, it had partially rebounded to about 68 cents in volatile […]
If you’ve turned on a TV, listened to the radio, or surfed internet news sites recently you’ve almost certainly heard that there is a crisis, and a panic, about inflation. You’ve been told it’s the reason the Federal Reserve is jacking up interest rates. It’s the reason the stock market has been plunging. It’s a […]
Another turnaround Tuesday may be in the cards after a litany of concerns including stagflation dragged the S&P 500 SPX, +1.00% below 4,000 for the first time since 2021. As investors try to regroup from the worst three-day stock stretch in two years, one more hard day of selling for the S&P might be a […]