Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in January.
Expectations for the next Fed rate cut get pushed back after hot inflation report
Futures markets took any realistic chance of a cut off the table until at least December.
Wholesale prices rose 0.7% in February, much more than expected and up 3.4% annually
Wholesale prices rose sharply in February, providing another sign that inflation continues to percolate even aside from rising energy prices.
Micron rides memory price spike into earnings with stock up 62%, drubbing its tech peers
As generative AI models get more sophisticated, companies need more memory and faster memory, Micron CEO Sanjay Mehrotra said in January.
Mortgage refinance demand plunges 19% after interest rates shoot higher
Mortgage rates shot higher last week, as the war with Iran stoked fears over inflation. That caused a major drop in refinance demand, but buyer demand improved.
Cuba partially restores power as President Díaz-Canel vows ‘unyielding resistance’ to U.S. oil blockade
The communist-run island nation is thought to be facing its biggest test since the collapse of the Soviet Union amid a U.S. oil blockade.
Jensen Huang says Nvidia has received orders from China and is ‘restarting our manufacturing’
Nvidia is gearing up to sell its H200 processors to customers in China after a lengthy delay due to restrictions from both the U.S. and Chinese government.
The Fed issues its latest interest rate decision Wednesday. Here’s what to expect
The Federal Reserve has little choice but to stay on the sidelines this week.
Elon Musk and SEC in talks to settle lawsuit over Twitter deal
The SEC accused Elon Musk of failing to promptly disclose that he amassed an active stake in Twitter in 2022.
Tesla to buy $4.3 billion of LG Energy battery cells from disbanded GM plant
Tesla is expanding ties with LG Energy Solution to include a $4.3 billion deal for U.S.-produced cells for energy storage systems from Michigan.
