Here’s the key change in the Fed’s statement that’s moving markets
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting on Sept. 21.
Fed approves 0.75-point hike to take rates to highest since 2008 and hints at change in policy ahead
Many are hoping for a “step-down” in policy that could see a rate increase of half a point at the December meeting and then a few smaller hikes in 2023.
Accused fraudster Justin Costello has history of posing as billionaire and threatening cops, police say
Justin Costello was indicted for duping investors out of millions in schemes where he claimed to be billionaire, a Harvard MBA and an Iraq war veteran.
This new athletic shoe stock could double as its brand becomes a breakout hit globally, UBS says
UBS expects the footwear company can capture a “very high percentage” of the $360 billion global athletic wear industry.
Banned Twitter users won’t return for at least another few weeks, Musk says
That will give time to set up a clearer process around content moderation, Musk said, giving more details about his planned council to inform those decisions.
Ford’s October sales slide 10% amid supply chain issues
Ford Motor’s U.S. sales last month declined by 10% as the automaker battled through supply chain issues that delayed shipments to dealers.
Private payrolls rose 239,000 in October, better than expected, while wages increased 7.7%, ADP says
Companies added 239,000 positions in October, ahead of the Dow Jones estimate of 195,000, ADP reported Wednesday.
Political advertisers shift spending from Facebook to streaming platforms ahead of midterms
Facebook’s grip on political advertising has weakened this cycle, as campaigns can no longer target voters as well because of Apple’s privacy changes.
The two words investors want to hear from Wednesday’s Federal Reserve meeting
Investors will be looking to see whether the central bank plans to take a “step down” from its monetary policy path.
This startup just raised $40 million to take on Zoom with virtual office spaces
Former Yext CEO Howard Lerman has spent over a year creating Roam, a new kind of virtual office.
