Tag Archives: Federal

Tesla CEO Elon Musk.Maja Hitij/Getty Images Two former Tesla employees have filed a lawsuit against Tesla, claiming its mass layoffs violated federal law. In early June, CEO Elon Musk said Tesla needed to cut 10% of its staff, per Reuters. The two former employees are looking to claim 60 days’ worth of pay and benefits. In a lawsuit filed Sunday, two former Tesla employees claim the electric carmaker violated federal law by laying off hundreds of employees on short notice. On June 2, Tesla CEO… Source link

The Federal Reserve on Wednesday raised interest rates by 0.75%, the largest move it has made in a single meeting since 1994. The central bank messaged that further interest rate hikes will come this year, as the Fed leans on higher borrowing costs to dampen demand and work to slow faster-than-expected inflation. “Overall economic activity appears to have picked up after edging down in the first quarter,” the policy-setting Federal Open Market Committee said in a statement, repeating its… Source link

Federal Reserve chairman Jerome Powell. European markets were muted on Wednesday as investors focus on the latest insights into the Fed’s policy tightening. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images European stocks were in the red on Wednesday as investors focus on fresh western sanctions against Russia over its invasion of Ukraine and the latest insights into the Federal Reserve’s policy tightening. The FTSE 100 (^FTSE) lost ground after closing higher the previous session,… Source link

The House voted to decriminalize marijuana and remove it from the list of banned controlled substances at the federal level on Friday. Now, the Marijuana Opportunity Reinvestment and Expungement Act, known as the MORE Act, will move to the Senate, where it is unlikely to attain the 60 votes needed to pass. While the passage of the MORE Act would certainly expand cannabis markets in the U.S., Weedmaps CEO Chris Beals thinks that a bigger obstacle lies in the 37 states where the substance is… Source link

The Federal Reserve entering an interest-rate hiking cycle will have ramifications for the U.S. economy over time, stresses former Fed economist Vincent Reinhart. “Mortgages will be a little more expensive. You may see some increases in loan rates. It will be harder to buy a car on credit. That is the slowing,” Reinhart, who is now chief economist at Dreyfus and Mellon, said on Yahoo Finance Live. One could officially start the clock on these things happening. The Fed widely delivered its first… Source link

By Chad Terhune and Robin Respaut    (Reuters) – More than 100,000 Americans died from diabetes in 2021, marking the second consecutive year for that grim milestone and spurring a call for a federal mobilization similar to the fight against HIV/AIDS.    The new figures come as an expert panel urges Congress to overhaul diabetes care and prevention, including recommendations to move beyond a reliance on medical interventions alone. A report released earlier this month calls for far… Source link

President Joe Biden acknowledged that a major problem facing Americans remains high inflationary pressures, but said Wednesday that a large share of the dilemma falls on the shoulders of the nation’s central bank. “A critical job in making sure elevated prices don’t become entrenched rests with the Federal Reserve, which has a dual mandate: employment and stable prices,” Biden said on the eve of the one-year anniversary of his inauguration. The price stability mandate is in flux, where the… Source link

Investors should buckle up as it could get hairy this year with the Federal Reserve poised to begin lifting interest rates from rock bottom levels.  “I definitely think we will experience more volatility in 2022 than what we have seen certainly over the last year, but even going back over the last decade. We started to see in 2021 volatility creep up, and I think we will see volatility creep up even further in 2022,” said Pimco portfolio manager Erin Browne on Yahoo Finance… Source link

Brace for a heavy dose of interest rate hikes out of the Federal Reserve, warns strategists at Goldman Sachs.  “Our economists expect the Fed will begin its hiking cycle at the March meeting and hike a total of four times in 2022. They expect an additional three hikes in 2023 and three hikes in 2024. The market is currently pricing a similar pace of tightening in 2022 but expects fewer total hikes this cycle,” said Goldman Sachs strategist Ben Snider in a research note on… Source link

MOSCOW, January 12. /TASS/. Yandex entered into antitrust proceedings against Apple over its prohibition against application developers from informing customers about the possibility of paying for purchases outside the AppStore, the company told TASS. “We decided to participate in the process because the decision on this case can have a big impact on both users and developers. We believe that users should be able to learn about different payment methods and make in-app purchases in any way… Source link