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U.S. Sen. Elizabeth Warren rebuked Federal Reserve Chair Jerome Powell for withholding information on trading by central bank officials during the pandemic and said an investigation into the matter by the Fed’s inspector general was “troubling.” The IG report “raises new concerns about the reasons why you continue to withhold key information about Fed officials’
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A few years ago, we were told that self-driving cars were just around the corner and would soon be pulling up at the kerbside. Then, when the fiendish complexities of developing and deploying the technology became clearer, we discovered they were stuck in heavy traffic many blocks away. But it would be wrong to conclude
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The writer is a senior fellow at the Carnegie Endowment for International Peace and a former Russian diplomat The Russian Embassy in the UK sparked outrage and fierce criticism recently when it tweeted that prisoners of war from Ukraine’s Azov battalion, who had defended the city of Mariupol right up until the bitter end, deserved
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Asian shares rallied and European stocks ticked higher after data showed that inflation in the US had steadied, boosting investors’ hopes that the Federal Reserve will soften its approach to tackling rising prices. In Europe, the Stoxx 600 gained 0.4 per cent at the open, while the FTSE 100 slipped 0.2 per cent and Germany’s
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How much could your household finances be squeezed in the next few years? The answer could well come down to the size of your mortgage. If you’ve borrowed a lot of money to buy your dream home, rising interest rates have the potential to curb the spending power of the middle classes much more than
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The last time I was truly, painfully, bored, in the way that I remember from childhood — watching the minutes tick by as if they were hours; desperately craving stimuli other than the contemptible ones on offer; feeling an increasing urge to somehow vent the frustration physically, vocally, or preferably both — was almost exactly
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Chicago’s heads into 2023 budget season with a $127.9 million gap to close, offering the market a key fiscal update as the buy-side heads to town for the city’s annual investors’ conference. The shortfall unveiled by Mayor Lori Lightfoot and her finance team Wednesday marks a sharp decline from the last three years. Lightfoot came
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Two Federal Reserve officials responded to softening inflation data by saying it doesn’t change the U.S. central bank’s path toward even higher interest rates this year and next. Minneapolis Fed President Neel Kashkari, who prior to the pandemic was the central bank’s most dovish policy maker, said Wednesday that he wants the Fed’s benchmark interest
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Municipals were little changed on the day Wednesday in light trading with few deals of size pricing while the Investment Company Institute reported the largest inflows into municipal mutual funds since November. While other markets made moves following better-than-expected inflation figures, with U.S. Treasuries ending mixed and equities rallying, triple-A muni yield curves saw a
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Donald Trump refused to answer questions at a deposition in a New York state probe into his businesses on Wednesday, invoking his constitutional right against self-incrimination amid deepening legal woes. Trump said in a statement that the “current administration and many prosecutors across the country have lost all moral and ethical bounds of decency”, leaving
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