Federal Reserve Chair Jerome Powell made the case in a speech on Tuesday for the Federal Reserve’s independence, noting stable inflation is the foundation of a healthy economy and can require the central bank taking actions that are necessary, but not popular. “The case for monetary policy independence lies in the benefits of insulating monetary policy decisions from short-term political considerations,” Powell said at the Symposium on Central Bank Independence in Stockholm, Sweden. “Price… Source link

U.S. stock futures pulled back early Tuesday as Wall Street processed hawkish rate talk from Federal Reserve officials and awaited comments from Chair Jerome Powell. Futures tied to the S&P 500 (^GSPC) dropped 0.5%, while futures on the Dow Jones Industrial Average (^DJI) shed 150 points, or 0.4%. Contracts on the technology-heavy Nasdaq Composite (^IXIC) declined by 0.7%. Fed chief Powell is scheduled to participated in a panel discussion at the Sveriges Riksbank International Symposium on… Source link

Google has been the unassailable leader among search engines for around 20 years. However, Microsoft ‘s reported plans to integrate artificial-intelligence technology from OpenAI into its search tools are raising questions about whether it could threaten Google’s dominance.  Source link

Bed Bath & Beyond continues to struggle mightily. The near-dead home goods retailer released its long-awaited holiday quarter results on Tuesday morning, and the picture is not pretty. Here are seven numbers that stood out to Yahoo Finance and help explain why the company is on the brink of ruin: Net sales crashed 33% from the prior year. Comparable digital sales fell a whopping 33%. Bed Bath & Beyond banner comparable sales plunged 34%. BuyBuyBaby banner comparable sales tanked in the “low 20″… Source link

The House GOP’s first policy bill out of the gate didn’t address inflation or gas prices or immigration, but instead went after the Internal Revenue Service. The bill was passed Monday evening on a straight party line vote of 221 to 210 to reverse much of the $80 billion in extra funding set aside for the agency by 2022’s Inflation Reduction Act. While it has little chance of it being enacted anytime soon with Democrats in control of the Senate and President Biden promising a veto, the… Source link

Fragmentation has been a longstanding complaint about the Android ecosystem. Often users miss out on features of the latest Android version because they are using older devices that are no longer updated. To reduce the gap, Google has released the first public version of the Extension SDK, which aims to bring features of the latest Android version to older iterations. As a part of this announcement, Google is opening up Photo Picker API support to Android 11 and… Source link

WASHINGTON, Jan 10 (Reuters) – Companies including GM, Ford, Google and solar energy producers said on Tuesday they would work together to establish standards for scaling up the use of virtual power plants (VPPs), systems for easing loads on electricity grids when supply is short. Energy transition nonprofit RMI will host the initiative, the Virtual Power Plant Partnership (VP3), which will also aim to shape policy for promoting the use of the systems, the companies said. Virtual power plants… Source link

By Valerie Volcovici WASHINGTON (Reuters) – Companies including GM, Ford, Google and solar energy producers said on Tuesday they would work together to establish standards for scaling up the use of virtual power plants (VPPs), systems for easing loads on electricity grids when supply is short. Energy transition nonprofit RMI will host the initiative, the Virtual Power Plant Partnership (VP3), which will also aim to shape policy for promoting the use of the systems, the companies said. Virtual… Source link

Tesla’s beat-up stock (TSLA) price may have one more move left in it to the downside before buyers could finally emerge with a little gusto. At least that’s the message from Tesla’s stock chart. “Tesla is now officially oversold,” said market technician and Fundstrat Managing Director Mark Newton on Yahoo Finance Live (video above). “I’m looking right down under $100 right before Tesla’s earnings happen right towards the end of the month, and that’s when a lot of my own cycles start to show… Source link

Google has been the unassailable leader among search engines for around 20 years. However, Microsoft ‘s reported plans to integrate artificial-intelligence technology from OpenAI into its search tools are raising questions about whether it could threaten Google’s dominance.  Source link