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☆ Biden’s manufacturing industry is expanding, but that could be bad for inflation
  + stars: | 2024-04-07 | by ( Bryan Mena | ) edition.cnn.com   time to read: +7 min
But a resurgence in the industry could complicate the Federal Reserve’s ongoing inflation fight, either delaying the first interest rate cut or resulting in fewer cuts this year, some economists say. Interest rates have been at a two-decade high since July, after the Fed raised rates aggressively over the prior year and a half. The economy picking up further strength would spook Wall Street because of what it means for interest rates — and some manufacturers say they’re optimistic about the future. The Bank of Canada announces its latest interest rate decision. China’s National Bureau of Statistics releases March inflation data.
Persons: Joe Biden, ”, Tom Barkin, “, Mary Daly, ” Daly, Jerome Powell, Neel Kashkari, ” Kashkari, ” Richard de Chazal, Blair, they’re “, Amazon’s, It’s, Ramishah Maruf, Amazon, haven’t, Read Organizations: Washington CNN, Institute for Supply Management, Congress, Fed, ” Richmond Fed, ” San Francisco Fed, Minneapolis, Dow, Blair Equity Research, Amazon, Fresh, Delta Air Lines, US Labor Department, Index, Bank of Canada, Federal Reserve, National Bureau of Statistics, Constellation Brands, European Central Bank, JPMorgan Chase, Citigroup, State, National Statistics, The University of Michigan Locations: Richmond , Virginia, ” San, Las Vegas, India, Wells Fargo, Progressive, BlackRock
☆ Richmond Snaps No. 16 Dayton’s Nation-Leading Win Streak 69-64
  + stars: | 2024-01-27 | by ( Associated Press | Jan. | At P.M. | ) www.usnews.com   time to read: +3 min
RICHMOND, Va. (AP) — Richmond couldn't have started any slower against No. 16 Dayton in the sold out Robins Center on Saturday night, missing its first 11 shots to fall behind 9-0. The victory was Richmond's 10th in a row, their longest winning streak since the 1934-35 team won 22 straight. Isaiah Bigelow and Dji Bailey added 12 points each for Richmond, (15-5, 7-0) with Bigelow also grabbing 15 rebounds. I thought we got out of character at times offensively, rushed some things,” Flyers coach Anthony Grant said.
Persons: — Richmond couldn't, ”, Chris Mooney, Jordan King, Neal Quinn, “, ” King, DeLonnie Hunt, Isaiah Bigelow, Dji Bailey, Bigelow, Javon Bennett, DaRon Holmes, Anthony Grant, “ You've, Koby Brea, Mooney, Caitlin Clark, George Washington, ___ Organizations: Robins, Spiders, Flyers, Richmond, Dayton, Kobe Elvis, ” Flyers, The Spiders, Hawkeyes, Ohio State, NEXT Dayton, Fordham, AP Locations: RICHMOND, Va, Dayton, ” Richmond, Richmond, Kobe, Iowa
☆ Federal Reserve officials are growing skeptical over suspending rate hikes
  + stars: | 2023-05-19 | by ( Bryan Mena | ) edition.cnn.com   time to read: +7 min
Some officials are concerned inflation isn’t cooling fast enough, which could prompt an 11th consecutive rate hike when policymakers meet in June. Federal Reserve Board Chair Jerome Powell and former Federal Reserve Board Chair Ben Bernanke (R) participate in a discussion at the Federal Reserve Board building in Washington, DC, May 19, 2023. Saul Loeb/AFP/Getty ImagesEarlier this month, Fed officials voted unanimously to raise the benchmark lending rate by a quarter point to a range of 5-5.25%, while signaling a possible pause ahead. Of course, Fed officials’ thinking on monetary policy could drastically change if the United States defaults on its debt, which could happen as soon as June 1. Fed officials always mention that their views on interest rates largely depend on what economic indicators show, resisting taking an absolute stance on how they will vote.
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