The increase marks an escalation of the central bank’s effort to cool the highest inflation since 1981.
Author archives: Ben Winck
GameStop, AMC, and Other Reddit Favorites Climb as Day Traders Look to Reignite Momentum
The group of previously unloved stocks has fluctuated in recent sessions as bullish momentum locks horns with profit-taking.
Verizon Climbs 4% After Warren Buffett Reveals Nearly $9 Billion Investment
Berkshire Hathaway invested $8.6 billion in Verizon stock through the quarter that ended December 31.
Robinhood Clients Say Platform Has Removed GameStop and AMC, and Is Only Allowing Holders to Sell
The move comes after traders organizing on Reddit forums furiously bid up the shares in an unprecedented short squeeze.
How Reddit Day Traders Are Using the Platform to Upend the Stock Market and Make Money in the Process
Retail investors on Reddit are boosting GameStop shares in defiance of hedge funds and investing norms, and one expert sees the unconventional rally as a sign “the institutions are losing some control.”
U.S. Weekly Jobless Claims Jump the Most Since March as America’s Labor-Market Recovery Falters
New claims for the week that ended Saturday totaled 965,000.
US GDP Surged a Record 33 Percent in the 3rd Quarter as the Economy Reopened, Roughly Double the Next-Biggest Jump
Still, the increase doesn’t offset the prior quarter’s decline. Experts have said a full recovery may take years, as the pace of GDP growth is set to moderate significantly in the last three months of 2020.
What 5 Top Execs Think About the Prospect of More Economic Stimulus
Earnings season kicked off on Tuesday, and executives are sounding off on the stimulus stalemate and the risks it poses to the ongoing economic recovery.
Dow Plummets 376 Points as Trump Halts Stimulus Talks Until After Election
“I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill,” Trump tweeted Tuesday afternoon.
IMF Warns ‘Great Lockdown’ Global Recession Will Be Worst Since Great Depression
Global gross domestic product will shrink by 3% in 2020 before recovering by 5.8% in 2021, according to the International Montetary Fund’s base case.