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The Latest Breaking News from US Federal Reserve

Average US long-term mortgage rates climb to 6.29% this week

Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2007, a result of the Federal Reserve’s intensified effort to tamp down decades-high inflation and cool the economy

The Independent UK

More Americans apply for jobless aid

The number of Americans filing for jobless benefits rose slightly last week despite the Federal Reserve’s year-long battle against inflation that’s intended to cool the economy and the tight labor market

The Independent UK

Sensex tumbles 337 points post US Federal Reserve rate hike; FMCG companies buck trend

MUMBAI: Equity benchmarks retreated for the second session on the trot on Thursday, in lockstep with a bearish trend overseas after the US Federal Reserve increased interest rates by 75 basis points and projected more rate hikes to quell scorching inflation.

The Times of India

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Microsoft, Google, Meta Have All Dropped Below June Lows But These 2 Big Tech Stocks Are Holding Up

Most big techs are now trading below their June lows, dragged by macro concerns, which have not spared the broader market either. Techs have led the market sell-off once again and this is evident from their relative underperformance versus the broader market.

Benzinga

Interest rate hike points to the Bank keeping its foot firmly on the brake

The half-point rise wasn’t the limit of the measures announced by a central bank accused – until now – of acting too slowly on inflation

The Guardian - UK

US Stocks Could Remain Jittery Thursday Over Fed Rate Hike As S&P 500, Nasdaq Futures See Volatility — McDonald's In Focus

The major U.S. index futures are flatlining, as traders are digesting the implication of the Fed's policy statement and a couple of interest rate decisions from Japan and the United Kingdom.

Benzinga

As Federal Reserve raises rates, Bank of Japan stays put

Many central banks around the world are following the lead of the US Federal Reserve and raising their benchmark interest rates in order to rein in inflation. The Bank of Japan, however, is marching to the beat of its own drum. At a policy meeting this Thursday, the bank maintained…

France 24

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Bank of England poised for another big interest rate hike

Britain’s central bank is under pressure make another big interest rate hike Thursday

The Independent UK

Swiss central bank enacts biggest-ever hike to key rate

Switzerland’s central bank has carried out the biggest hike ever to its key interest rate in an effort to clamp down on inflation

The Independent UK

Commentary: The Fed’s monetary malpractice will cost you

The goal of the latest interest rate hike from the Federal Reserve? To avoid a deep recession “by acting with resolve now,” according to Fed Chairman Jerome Powell. But if history is any guide, this is a case of too little, too late.

Tribune News Service

Bank of England says UK in recession as it raises interest rates to 14-year high of 2.25% – business live

UK central bank predicts economy shrank for second quarter in a row, after shops closed and many stayed at home for Queen Elizabeth II’s state funeral

The Guardian - UK

Asia stocks follow Wall Street down as Fed fights inflation

Asian stock markets have followed Wall Street lower after the Federal Reserve delivered another big interest rate hike and raised its outlook for more to cool galloping inflation

The Independent UK

AP News Digest 3:20 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

The Independent UK

Oil Rises as Supply Fears Overtake Recession Worries

Oil rebounded on Thursday after sliding 1% in the previous session as concerns over tight supplies heading into winter eclipsed fears of a global recession. Brent crude futures rose 50 cents, or 0.6%, to $90.33 per barrel by 0319 GMT, recouping their losses in early Asia trade.

Asharq Al-Awsat

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The Independent UK

Powell's stark message: Inflation fight may cause recession

The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession

Al Jazeera

Hong Kong raises benchmark interest rate to 14-year high

Financial hub’s de facto central bank lifts key rate to 3.5 percent after latest rate hike in the United States.

Benzinga

Alibaba Plunges, Xpeng, Nio Nosedive: Fed Rate Hike and Projections Push Hang Seng To 2011 Lows

Hong Kong's benchmark Hang Seng Index lost over 1.9% in opening trade to hit 2011 lows after the U.S. Federal Reserve raised interest rates by 0.75% and indicated they could be hit as high as 4.6% next year. That dented stocks of U.S.-listed Chinese EV makers, whose business prospects depend a lot…

Benzinga

Bitcoin, Dogecoin Plunge, Ethereum Worst Hit After Fed Rate Hike — But, Is There A Silver Lining?

Major coins fell sharply on Wednesday evening as the global cryptocurrency market cap decreased 2.7% to $896.8 billion at 8:30 p.m. EDT.

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Salon

Fed hikes interest rates for third time

According to business analysts, the Fed hasn't made a move against inflation quite this aggressive since the 1980s

The Independent UK

US has sent $8.28 billion in pandemic funds to local lenders

On the same day the Federal Reserve gave a sobering report on the U.S. economy’s trajectory, administration officials highlighted how they have kept some of the nation’s smallest businesses afloat through the pandemic

StockNews.com

3 ETFs With Too Much Downside Risk to Buy Now

Since the Fed announced another 75-basis-point interest rate hike today, the market is expected to remain under pressure. With precious metals set to keep losing luster and growing businesses finding it increasingly difficult to borrow, it could be wise to avoid VanEck Gold Miners (GDX), ARK Innovation (ARKK), and ProShares…

StockNews.com

2 Stocks You Should Consider Leaving Behind in 2022

The stock market has witnessed wild swings amid sky-high inflation and the Fed’s rate hikes to control it. Moreover, volatility is expected to remain as the stubbornly high inflation shows no signs of slowing, and the Fed’s monetary policy tightening is raising the possibility of a recession. With another 75-basis-point…

France 24

US Federal Reserve fights inflation with third 0.75% rate hike

The US Federal Reserve has raised interest rates by 0.75 percent for the third time in a row, bringing America's borrowing costs to the highest level since 2008. Like other central banks, the Fed hopes to tame inflation, which is hovering near 40-year highs. Also in the show: the German…

Benzinga

Fed Raises Rates 0.75% For Third Straight Time: 'We Will Keep At It Until We're Confident The Job Is Done'

The SPDR S&P 500 (ARCA:SPY) is volatile after the Federal Reserve on Wednesday raised its benchmark rate by 0.75% for the third straight time and indicated that it will continue to hike well above the current level.

StockNews.com

3 No-Brainer Stocks to Buy if You Have Money to Spend

Raging inflation and the Fed’s commitment to bring it under control with rate hikes are raising recession worries. However, according to BofA, the market could see a rally later this year. Given the macro uncertainties, we think investors should add fundamentally solid stocks Microsoft (MSFT), Merck & Co. (MRK), and…

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