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A discounted batch of planks is seen as people shop for lumber at a Home Depot store in Alhambra, California on May 4, 2022. FREDERIC J. BROWN/AFP via Getty Images Lumber prices extended their 2-day decline to 10% after the Fed hiked interest rates by 75 basis points on Wednesday. The aggressive interest rate hike […]
Federal Reserve Board Chair Jerome Powell. Elizabeth Frantz/Reuters Goldman Sachs raised its forecasts for the size of Fed rate hikes at the September and November meetings. The investment bank late Wednesday said it now sees a September increase of 75 basis points and a November increase of 50 basis points. Fed officials have delivered hawkish […]
Flickr / Federal Reserve The Federal Reserve just raised interest rates for the second time in three months, signaling a dramatic quickening of its prior pace. For the first time in more than a decade, Fed policymakers are turning increasingly hawkish out of concern over ongoing labor market tightening, evidence of building inflationary pressure and […]
London is unlikely to retain its role as the financial ‘gateway to Europe’ after Brexit, a senior executive at Germany’s central bank has warned. In a private speech to German businesses and banks, Dr Andreas Dombret rejected the idea of allowing financial transactions to carry on as before in a so-called ‘equivalence regime’ between Britain […]
