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WASHINGTON – The Federal Reserve barreled ahead with a third straight outsize interest rate hike Wednesday in an effort to squash high inflation – but economists worry the campaign is increasingly risking a recession by next year. The Fed raised its key short-term rate by three-quarters of a percentage point to a range of 3% to 3.25%, a higher-than-normal level designed to ease inflation by slowing the economy. It also significantly bumped up its forecast for what that rate will be at… Source link

U.S. stocks tumbled in volatile trading Wednesday afternoon as the Federal Reserve dealt another outsized interest rate hike in its fight against stubborn inflation. The U.S. central bank lifted its benchmark policy rate by 0.75% for a third consecutive time, bringing the federal funds rate to a new range of 3.0% to 3.25% — its highest level since 2008 — from a current range between 2.25% and 2.5%. The S&P 500 and Dow Jones Industrial Average each shed around 1.7%, while the… Source link

Once the Seattle Seahawks traded Russell Wilson to the Denver Broncos this offseason, all the stories about his rocky relationship with the team came out of the woodwork. One such story came from former Seahawks cornerback Richard Sherman and linebacker K.J. Wright. The pair discussed Wilson’s tenure in Seattle on The Richard Sherman Podcast this week, where both explained how Wilson enjoyed special treatment throughout his early years with the Seahawks. “He was not held to the same… Source link

The last few weeks have seen several problems with the Google Ads Manager, specifically affecting publishers and an incident dating all the way back to August 31. The original issue. On August 31, Google reported an incident that “Google Ad Manager Historical Report stats are showing lower than expected for some networks. There’s no clear impact on Serving or Data Transfer at this point.” Fast forward to this week. Yesterday Google reported… Source link

(Bloomberg) — Federal Reserve Chair Jerome Powell said officials were determined to curb inflation after they raised interest rates by 75 basis points for a third straight time and signaled even more aggressive hikes in the future than expected by investors. Most Read from Bloomberg “We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%,” he told a press conference in Washington on Wednesday after officials lifted the… Source link

Larry Page Justin Sullivan | Getty Images Google co-founder Larry Page’s flying car startup Kittyhawk is winding down, the company announced Wednesday. “We’re still working on the details of what’s next,” the company wrote in a LinkedIn post. Kittyhawk was founded as Zee.Aero in 2010 when Page recruited Sebastian Thrun, who had worked on self-driving cars and other experimental projects at Google, to create electric vertical takeoff and landing aircraft. The company unveiled a demonstration… Source link

Everyone knows you should take Connor McDavid, Leon Draisaitl, or Auston Matthews with your first few Fantasy Hockey Draft picks. But who should you be drafting in the mid-to-late rounds? Who is going much later than they should be? Who has the same profile as a player going much earlier? I looked at Yahoo ADPs (Average Draft Position) and compared them with my projections and customizable rankings tool to find the biggest draft day steals as of right now. Mark Scheifele (WPG – C | ADP… Source link

Boxer Gervonta Davis and his lawyer are headed to trial on Dec. 12 after a judge rejected a plea deal in the case of a 2020 hit-and-run crash in Baltimore. In a hearing on Tuesday, Judge Melissa Phinn rejected the deal offered by prosecutors, which included a one-year suspended sentence, two months of home confinement, and zero jail time. Davis, 27, had already accepted that deal, which was not the first one he was offered. Prosecutors originally proposed a plea deal that included four months… Source link

A man holding a phone walks past a sign of Chinese company ByteDance’s app TikTok, known locally as Douyin, at the International Artificial Products Expo in Hangzhou, Zhejiang province, China October 18, 2019. Reuters The explosion of TikTok’s popularity has pushed the app into the biggest technology companies’ focus. While geopolitical issues remain heightened over data-privacy and security, technology firms can’t ignore the platform’s influence on audiences. Google, Apple and Microsoft all… Source link

LONDON: TikTok will begin requiring accounts belonging to US government departments, politicians and political parties to be verified and will ban videos aimed at campaign fundraising, the short-form video app said on Wednesday.The move comes as TikTok, owned by China’s ByteDance, and other social media platforms are working to clamp down on political misinformation ahead of the US midterm elections in November, after years of being criticized for allowing such content to flourish on… Source link