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The Latest Breaking News from US Federal Reserve

US Stock Futures Down Ahead Of Fed Speakers, Economic Data

Pre-open movers U.S. stock futures traded lower in early pre-market trade on Wednesday after closing mostly lower on Tuesday. The S&P 500 index dropped deeper into a bear market after hitting a fresh 2022 low. The S&P 500 is now down 24.3% from its record level in January, while the…

Benzinga

China's Yuan falls to lowest level since 2008 global financial crisis

Like many other world currencies, China's onshore and offshore Yuan both fell against the dollar on Wednesday, increasing the pressure on the People's Bank of China to intervene directly. The drop is a result of the strong US dollar following the Federal Reserve's rate hikes, coupled with Beijing's more dovish…

France 24

World’s central banks financing destruction of the rainforest

Corporate bonds intended to inject liquidity into markets profited companies engaged in deforestation

The Guardian - UK

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China's yuan slides to 14-year low after US rate hikes

China’s yuan has fallen to a 14-year low against the dollar despite central bank efforts to stem the slide

The Independent UK

Asian shares tumble after wobbly day on Wall Street

Indexes slump in China, Japan, South Korea and Australia as investors weigh prospect of a possible global recession.

Al Jazeera

Bitcoin, Ethereum, Dogecoin Slip: Analyst Says Apex Crypto's Stabilization 'A Welcome Sign' Despite Lack Of Catalyst

The two largest coins were in the red Tuesday evening, as the global cryptocurrency market cap slipped 0.6% to $933 billion at 8:12 p.m. EDT.

Benzinga

White House mulling potential Yellen departure after midterms

It would be the first and most consequential exit in a potentially broad reorganization of Biden's economic team.

Axios

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A global recession looks increasingly likely – but here’s how Australia could escape it

If the US pushes up interest rates to the point where it’s about to bring on a recession, Australia would be well advised to stand back and not lift rates

The Guardian - AU

Stocks Racing to Bottom

The S&P 500 (SPY) has raced 15% lower in just a few short weeks. Sure we might see a short term bounce here or there. Unfortunately most signs still point lower. Why is that the case? How much lower could we go? And what is the best way to trade…

StockNews.com

Stocks drop for sixth session as rate woes persist: Markets wrap

US stocks ended a volatile session lower after a slew of Federal Reserve officials hammered home their resolve to remain aggressive in their fight against inflation.

Tribune News Service

2 Stocks Under $50 Worth Snapping up Right Now

With the market volatility and odds of recession perpetually increasing with every interest rate hike by the Federal Reserve, investors would be advised to load up on attractively priced stocks of businesses with robust demand and stable growth trajectory. Hence, fundamentally sound stocks Kroger (KR) and APA (APA), currently trading…

StockNews.com

3 Stocks You'll Want to Leave out of Your Retirement Portfolio

The stock market is experiencing wild swings amid the consecutive Federal rate hikes and deteriorating investor sentiments. Moreover, the aggressive rate hikes are raising recession concerns. Therefore, fundamentally weak stocks Uber Technologies (UBER), Workhorse Group (WKHS), and AppHarvest (APPH) might be best avoided for your retirement portfolio. Also, these stocks…

StockNews.com

Annaly Capital Management's Rare 3-Standard Deviation Selloff

The effects of rising interest rates continue to hit markets and none more so than in the mortgage sector. The amount of selling lately, for example, in Annaly Capital Management Inc. (NYSE: NLY) is remarkable for its extraordinary downward pressure on price levels.

Benzinga

What a Re-test of June Lows Could Mean for the Market Outlook

The S&P 500 (SPY) is now hovering just above the June lows. Interestingly, we have a meaningful divergence in place as global growth-linked stocks like Caterpillar are making lower lows. I do think this is meaningful. The latest leg lower in stocks is coming about due to a combination of…

StockNews.com

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StockNews.com

5 Stocks to Sell During This Bear Market

Raging inflation and the Fed’s hawkish stance have kept the stock market under tremendous pressure. Moreover, a third-consecutive rate hike last week has caused the major benchmark indexes to plunge. So, we think fundamentally weak stocks Las Vegas Sands (LVS), Roblox Corporation (RBLX), Carnival Corporation (CCL), Marathon Digital Holdings (MARA),…

The Times of India

RBI's rate-setting panel to start 3-day meet on September 28, another rate hike likely

MUMBAI: The Reserve Bank's rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed.

The Independent UK

Fed's Powell urges broader regulation for stablecoins

Federal Reserve Chair Jerome Powell said that stablecoins will need greater regulation as they become more widely used by consumers

StockNews.com

5 ETFs to Avoid in This Volatile Market

The Fed’s aggressive monetary policy stance is expected to keep the stock market under pressure in the upcoming months. Moreover, a potential recession could keep several assets under pressure. Therefore, we think it could be wise to avoid ETFs iShares 20+ Year Treasury Bond (TLT), VanEck Gold Miners (GDX), Ark…

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WEKU

The dollar is surging. This is who gets helped - and hurt - by its newfound strength

The U.S. dollar is the strongest it has been in 20 years. As it strengthens, other currencies — like the pound — weaken. That's good news for U.S. consumers and importers but bad news for others.

The Conversation

A global recession looks increasingly likely – but here's how Australia could escape it

Global stock markets are tanking on fears of recessions in the US, the UK and Europe, and the OECD is actually forecasting recessions in Europe.

Benzinga

Cathie Wood Says Powell's 'Sledgehammer' To 'Slay' Inflation Way More Powerful Than Volcker's In 1980s: 'Fed Could Undermine Its Legacy'

Cathie Wood, the founder of ARK Investment Management, has said the current U.S. monetary policy is significantly more restrictive than in the 1980s when, to kill inflation, former Federal Reserve Chair Paul Volcker had pushed the Fed funds rate up two-fold from 10% to 20%.

Los Angeles Times

Michael Hiltzik: Painful signs emerge that Fed is moving too far, too fast with aggressive rate increases

We have a term for the intentional infliction of pain on others: cruelty. So what are we to make of the Federal Reserve Board?

Tribune News Service

Inflation is crushing Americans’ savings — here are 6 tips to protect your money

Building up a stable cushion of cash you can rely on in emergencies seems daunting even in normal economic times. Add the steepest loss of Americans’ purchasing power in more than 40 years into the mix, and the task can seem next to impossible.

The Conversation

Sterling hits all-time low: two things can turn this around but neither is straightforward

While most people in the UK were still in bed in the early hours of Monday morning, the pound dived. It fell over 4% during Asia trading to reach its lowest ever level against the dollar of US$1.035, while also hitting €1.079 against the euro. This was an exceptional fall,…

The Independent UK

Boston Fed's Collins says 'higher unemployment' needed

Susan Collins, the new president of the Federal Reserve Bank of Boston, said says that a higher unemployment rate will be needed to bring down inflation from unusually high levels, but suggested any economic downturn would likely be modest

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