[ad_1]
Fed’s Collins says officials are ‘at or near’ a pause in hikes
Boston Federal Reserve President Susan Collins thinks the central bank where it stop increasing interest rates.
In a speech delivered Thursday to graduates from the Community College of Rhode Island, Collins indicated she’s seeing “signs of moderation” from inflation that could negate the need for future hikes.
“I believe we may be at, or near, the point where monetary policy can pause raising interest rates. This will provide an opportunity to more fully assess the impact of the actions taken to date and the general tightening of credit conditions on economic activity,” she said in prepared remarks.
Markets pricing, however, has shifted, with the expectation now that the Fed will raise a quarter percentage point by the July meeting.
—Jeff Cox
Biden, Congressional leaders are nearing a deal on raising the debt ceiling
Congressional leaders and President Joe Biden were close to a preliminary agreement to raise the debt ceiling on Thursday, according to a report from Reuters citing people familiar with the matter.
Progress between Biden and House Speaker Kevin McCarthy is pinned to $70 billion in discretionary spending, the report said.
— Brian Evans
Nasdaq jumps 1.7% as Nvidia pops on earnings, fuels tech rally
The Nasdaq Composite and S&P 500 finished higher on Thursday as technology stocks rallied on the heels of a strong quarterly report from Nvidia.
The tech-heavy Nasdaq popped 1.71% to settle at 12,698.09, while the S&P climbed 0.88% to finish at 4,151.28. The Dow Jones Industrial Average dipped 35.27 points, or 0.11%, to end at 32,764.65.
— Samantha Subin
[ad_2]
