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☆ In South America, African-Inspired Religions Gain More Followers
▼ + stars: | 2024-02-03 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +5 min

Followers of African-based religions are on the rise in South America new data shows, a reflection of how the region's African heritage is gaining a greater voice beyond Brazil where such traditions are widely recognized. Surveys on religious beliefs in Argentina and Uruguay point to a rising number of people who identify with African-inspired faiths. Over 2% of Uruguayans identify as followers of African-inspired faiths like Umbanda. Oral histories and traditions associated with the African-based religions have long been misunderstood or demonized as "witchcraft," she said. "We've made strides in terms of the laws around practicing our religion, that in theory protect against discrimination," she said.

Persons: Lucinda Elliott, Mother Susana Andrade, Mae Susana de Oxum, Sasha Curti, Ramirez, Curti, Candomblé, Yemanjá, WE'VE, Victoria Sotelo, Greta Pena, stigmatization, Andrade, We've, Aurora Ellis, David Gregorio Organizations: Uruguayan, Federation of, University of the, Diaspora, Argentina's National Institute Locations: Candelaria Grimberg MONTEVIDEO, Africa, Federation of Uruguay, South America, Brazil, Argentina, Uruguay, Montevideo, Uruguayan, University of the Republic, Argentine, Paraguay, European Argentina, Candelaria, Buenos Aires

☆ Argentina's President Milei to Visit Israel in Display of Support
▼ + stars: | 2024-01-26 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

By Candelaria GrimbergBUENOS AIRES (Reuters) - Argentina's President Javier Milei said on Friday he would travel to Israel in the "coming weeks," one of his first overseas trips since the libertarian economist took office last month after pledging strong support for Israel during his campaign. Milei was speaking during a Holocaust remembrance event in Buenos Aires, where he signaled support for Israel in its ongoing conflict with Hamas in Gaza, adding that Argentina would "not remain silent in the face of Hamas terror." Eleven Argentines are among the civilian hostages held by Hamas, Milei said, in captivity since the militant group who rules the Gaza Strip went on a deadly rampage through Israel on Oct. 7. Buenos Aires has a large Jewish community and, before taking office in December, Milei said he intended to convert to Judaism. The World Court ordered Israel on Friday to prevent acts of genocide against Palestinians and do more to help civilians.

Persons: Javier Milei, Milei, Candelaria Grimberg, Brendan O'Boyle, Rosalba O'Brien Organizations: Reuters, Israel, Court Locations: Candelaria Grimberg BUENOS AIRES, Israel, Buenos Aires, Gaza, Argentina, New York City

ATLANTA (AP) — A federal appeals court ruled on Friday that Georgia can keep statewide elections for its five-member commission regulating utilities, overturning a lower court judge who found statewide elections illegally diluted Black votes. The ruling is important beyond Georgia’s Public Service Commission because it could help protect certain statewide elections in other states subject to scrutiny for racial discrimination under the Voting Rights Act. In August 2022, U.S. District Judge Steven Grimberg had ordered Georgia's commissioners elected by district, the first time a statewide voting scheme had been overturned by a federal judge. Retaining statewide elections enhances the chance that all five seats will remain in Republican hands, as they have been for years. Plaintiffs said the current commission is unresponsive to Black voters, including people with lower incomes who pay high utility bills.

Persons: Steven Grimberg, Grimberg, Georgia, Elizabeth Branch, Plaintiffs, ” Brionte McCorkle, James “ Major ” Woodall, Fitz Johnson, Tim Echols, Grimberg's, Johnson, Echols, Tricia Pridemore, It's, hadn't, beholden Organizations: ATLANTA, —, Public Service Commission, U.S, Supreme, Circuit, Appeals, ”, PSC, Black, Georgia Conservation Voters, GOP, Republican, Georgia Power Co Locations: Georgia, Alabama, U.S

BUENOS AIRES, Nov 20 (Reuters) - Argentines expressed a mixture of ecstasy and trepidation on Monday after libertarian outsider Javier Milei, pledging radical fixes to the economy, swept to power with an election win over Peronist government rival Sergio Massa. "It's a great unknown," said Guillermo Toledo, a 51-year-old university professor in the capital Buenos Aires, who said he did not vote for Milei. Milei's win brought flag-waving crowds on Sunday night out to the Obelisk in downtown Buenos Aires, a traditional rallying point for supporters to cheer election or soccer wins. [1/2]Argentine president-elect Javier Milei's supporters celebrate after Milei wins the runoff presidential election, in Buenos Aires, Argentina November 19, 2023. Milei gives me hope things can change," Bernal said.

Persons: Javier Milei, Sergio Massa, Milei, Donald Trump, Jair, Guillermo Toledo, haven't, Milei's, Leandro Boses, Javier Milei's, Adriano Machado, Massa, Claudio Bernal, Bernal, Julia Eva Saggini, Mauricio Macri, Lucinda Elliott, Candelaria Grimberg, Rosalba O'Brien Organizations: Peronist, Argentine, REUTERS, Thomson Locations: BUENOS AIRES, Argentina, U.S, Buenos Aires

☆ Argentina Readies to Vote in Likely Presidential Election Thriller
▼ + stars: | 2023-11-19 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

Massa offers continuity but has been at the helm during the worst economic crisis in two decades. With many voters unconvinced by either, some have characterized the vote as a choice of the "lesser evil": fear of Milei's painful economic medicine or anger at Massa over the economic crisis. "The election will mark a profound rupture in the system of political representation in Argentina," said Julio Burdman, director of the consultancy Observatorio Electoral. "You cannot vote for the current government under these conditions and a blank vote will only favor it. In the first-round vote in October, Massa won 36.7% of the votes compared to some 30% for Milei.

Persons: Sergio Massa, Javier Milei, Massa, Julio Burdman, Milei, he's, Matias Kawior, South, Santiago Neria, Patricia Bullrich, Nicolás Misculin, Candelaria Grimberg, Rosalba O'Brien Organizations: Reuters, Peronist, Massa, International Monetary Fund Locations: Misculin BUENOS AIRES, China, United States, Brazil, Argentina, Buenos Aires

☆ Argentina votes in nail-biter election with libertarian slight favorite
▼ + stars: | 2023-11-19 | by ( Nicolás Misculin | ) www.reuters.com time to read: +4 min

The election sees Peronist Economy Minister Sergio Massa, at the helm for the country's worst economic crisis in two decades, go head-to-head with radical libertarian outsider Javier Milei, the slight pre-election favorite in the polls. "The election will mark a profound rupture in the system of political representation in Argentina," said Julio Burdman, director of the consultancy Observatorio Electoral. Massa, 51, an experienced political wheeler-dealer, has been clawing back votes with tax cuts and campaigns highlighting Milei's radical plans to slash state spending. In the first-round vote in October, Massa won 36.7% of the votes compared to some 30% for Milei. The libertarian has since won public backing from third-place finisher Patricia Bullrich, though it's by no means certain all her votes will shift to him.

Persons: Sergio Massa, Javier Milei, Milei, Massa, Julio Burdman, he's, Matias Kawior, South, Santiago Neria, Patricia Bullrich, Nicolás Misculin, Candelaria Grimberg, Rosalba O'Brien Organizations: Peronist, Massa, International Monetary Fund, Thomson Locations: BUENOS AIRES, China, United States, Brazil, Argentina, Buenos Aires

☆ Argentina's conservatives gamble for survival on odd couple Milei and Macri
▼ + stars: | 2023-11-15 | by ( Lucila Sigal | ) www.reuters.com time to read: +5 min

Luis Robayo/Pool via REUTERS/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 15 (Reuters) - Javier Milei shot to prominence lambasting Argentina's traditional political elite. Now the radical presidential election frontrunner is the mainstream conservatives' best shot at clinging onto power. If Milei loses, it could precipitate the fracturing of the conservative coalition between more right-wing and moderate wings. "There may be some Milei voters who get angry at an alliance with the 'caste', just as there may be Macri voters who get angry at an alliance with Milei," said Fornoni. "We don't know today what power Macri will have, if Macri will end up absorbing Milei or Milei absorbing Macri.

Persons: Javier Milei, Luis Robayo, Sergio Massa, Milei, Mauricio Macri, Patricia Bullrich, Donald Trump, Shila Vilker, Trespuntozero, Mariel Fornoni, GAMBLE, Massa, Pope Francis, Milei's, Macri, it's, Ezequiel Salinas, Fornoni, Lucila Sigal, Nicolás Misculin, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, University of Buenos, Law School, Peronist, Management, Bullrich, Reuters, Milei, Thomson Locations: University of Buenos Aires, Buenos Aires Argentina, BUENOS AIRES, China, Candelaria

☆ Argentina's Peronists seek rebirth from ashes of economic crisis
▼ + stars: | 2023-11-14 | by ( Nicolás Misculin | ) www.reuters.com time to read: +5 min

Argentina's main political force for decades, the ruling Peronists only months ago looked down and out. It has a new front-man, Sergio Massa, who is in a tight race to win Sunday's presidential election run-off with anti-establishment outsider Javier Milei. "If Massa wins, he will build a different leadership. PERONISM: LEFT OR RIGHT? "If Massa wins, he will have to betray CFK (Kirchner): in Peronism there is no room for two commanders," said political analyst Andres Malamud.

Persons: Sergio Massa, Agustin Marcarian, Long, Juan Peron, Evita, Javier Milei, Cristina Fernandez de Kirchner, Kirchner, Alberto Fernandez, Massa, Santiago Cafiero, Fernandez, he's, Milei, Ignacio Avalos, Julia Saggini, CFK, Andres Malamud, Nicolas Misculin, Candelaria Grimberg, Lucila Sigal, Adam Jourdan, Rosalba O'Brien Organizations: CGT, of Labor, REUTERS, Voters, Peronist, Economy, Argentine, Reuters, Massa, Thomson Locations: Buenos Aires, BUENOS AIRES, Bolivia, Cuba, United States, Peronism

☆ From Spider-Verse to Argentina: Fans aim to break record for biggest Spider-Man gathering
▼ + stars: | 2023-10-30 | by ( Candelaria Grimberg | ) www.reuters.com time to read: +2 min

[1/5] People dressed as Spider-Man point at each other at a Spider-Man cosplayers' gathering, organised in an attempt to set a Guinness World Record for the largest gathering of people dressed as Spider-Man, in Buenos Aires, Argentina October 29, 2023. Argentine influencer Uki Deane organized the gathering via Instagram, aiming to outdo an event in June in Malaysia where 685 people dressed as Spider-Man. The organizers asked participants to provide signatures and have their photo taken as documentation to provide to the record-keeping group. The superhero look-alikes dressed as the character created by Stan Lee and Steve Ditko clapped and sang with good cheer during the sunny afternoon. Juan Menchon, a 25-year-old soccer coach, said he felt empowered by the Spider-Man outfit.

Persons: Cristina Sille, Uki Deane, Deane, Stan Lee, Steve Ditko clapped, Juan Menchon, Matias, Candelaria Grinberg, Lucila Sigal, Beth Solomon, Jamie Freed Organizations: REUTERS, Marvel, Guinness World Records, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Malaysia, Argentine

[1/2] Argentina's presidential candidate Sergio Massa gestures during a press conference a day after the first round of Argentina's presidential election, in Buenos Aires, Argentina October 23, 2023. Local media reported similar though more informal campaigns in some hospitals, and the energy secretary warned the price of subsidized gas could double. 'CHAINSAWING' THE WELFARE STATE? "At the other end of the chainsaw he totes at rallies are the pocketbooks of millions of Argentines," he added. Additional reporting by Candelaria Grimberg and Lucinda Elliott; Editing by Adam Jourdan and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Cristina Sille, Sergio Massa's, Javier Milei, Massa, Milei, Amparo Anzaldi, Benjamin Gedan, Wilson, Cristina Fernandez de Kirchner, Ana Monclus, meanwhile, Anna, Catherine Brigida, Candelaria Grimberg, Lucinda Elliott, Adam Jourdan, Aurora Ellis Organizations: REUTERS, Argentine Economy, Peronist, Massa, Local, International Monetary Fund, Reuters, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Argentine

Argentine presidential candidate Javier Milei of La Libertad Avanza party reacts during the closing event of his electoral campaign ahead of the presidential election, in Buenos Aires, Argentina, October 18, 2023. The result, according to the cloning company, was at least four "grandchildren": Murray, Milton, Robert and Lucas, who are named for Milei's economist idols including Milton Friedman. After Conan's death, Milei sent the dog's DNA sample to animal cloning firm PerPETuate, which has written publicly about cloning Milei's dogs on its company website. Through a medium, Milei's original dog, he alleges, gave him the mission of becoming Argentina's president, which he could - against the odds - pull off today or next month. As Milei's political profile has soared, his dogs have become a point of criticism.

Persons: Javier Milei, Matias Baglietto, Milei's, Conan, confidants, Murray, Milton, Robert, Lucas, Milton Friedman, Milei, Juan Luis Gonzalez, Sergio Massa, Patricia Bullrich, Gonzalez, Opponent Massa, Anna, Catherine Brigida, Candelaria Grimberg, Andrea Ricci Organizations: Argentine, La Libertad, REUTERS, Argentina, Economy, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES

"He is the change that Argentina needs," said 28-year-old Milei voter Ayrton Ortiz at a recent rally in Buenos Aires province in support of the candidate. Those working with his campaign say it is his authenticity that has made him so successful, especially with two-fifths of the population in poverty and looking for a new voice. "You can like him or not, but he is himself," said Fernando Cerimedo, a political consultant who works on Milei's campaign. Many Milei voters say they are willing to take the risk. At the end of the month, you see how they count pennies and cry," said Milei voter Valentina Brites, 18.

Persons: Javier Milei, Agustin Marcarian, Juan Luis Gonzalez, Gonzalez, Milei, Donald Trump, Beppe Grillo, Ayrton Ortiz, Sergio Massa, Patricia Bullrich, MURRAY, MILTON, ROBERT AND LUCAS Milei, Karina, Conan, Murray, Milton, Robert, Lucas, Milton Friedman, Eduardo Eurnekian, Fernando Cerimedo, Fernando Morra, Valentina Brites, Javier, Anna, Catherine Brigida, Eliana Raszewksi, Lucinda Elliott, Adam Jourdan, Daniel Wallis Organizations: Argentine, La Libertad Avanza, REUTERS, American, Peronist, Forces, Libertad Avanza, Reuters, Thomson Locations: La Plata, Buenos Aires, Argentina, BUENOS AIRES, Argentine, Candelaria

REUTERS/Cristina Sille Acquire Licensing RightsBUENOS AIRES, Oct 4 (Reuters) - Argentina's presidential election race is putting abortion access and women's rights in the spotlight, sparking fierce debate in a country that has been a pioneer in expanding reproductive rights in Latin America. The election frontrunner, economist Javier Milei, opposes abortion and wants to hold a referendum on whether the 2020 legalization of abortion before the 14th week of pregnancy should be repealed. He also wants to shut the ministry of women, gender and diversity, which he has called a type of "affirmative action" that is degrading towards women. She would leave abortion laws unchanged, though also close the women's ministry. Repealing the abortion law is not on their agenda, because "Argentina already had that debate," she told Reuters.

Persons: Javier Milei, Cristina Sille, Sergio Massa, Patricia Bullrich, Myriam Bregman, Eugenia Rolon, influencer, Nelly Borquez, Karina, Victoria Villarruel, Javier doesn't, Valentina Brites, Ayelen, Milei, Massa, Silvia Lospennato, Bullrich, Anna, Catherine Brigida, Candelaria Grimberg, Lucinda Elliott, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, REUTERS, Reuters, Milei, Taquion Research, PRO, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Latin America, American

☆ Documentary takes Argentine cartoon strip icon Mafalda to television
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Joaquin Salvador Lavado, known as "Quino", launched the comic six decades ago, initially as a failed covert advertising campaign for electrical appliances. Mafalda, however, evolved into something else, questioning everything from nuclear power to overpopulation and capitalism to dictatorship, with kindness and a razor wit disguised as childish ingenuity. "Quino built the story with very human characters through the eyes of children, who say terrible barbarities with no filter," series director Lorena Munoz told Reuters. The two-hour docuseries, "Rereading: Mafalda", will reexamine the series through a feminist lens and its historical context, especially its criticism of the 1960s military dictatorship of Juan Carlos Ongania. Work on the series was paused during the pandemic but was nominated ahead of its commercial release for best documentary at this year's Canneseries Festival.

Persons: Joaquin Salvador Lavado, Quino, Lorena Munoz, Juan Carlos Ongania, Susanita, Munoz, Candelaria Grimberg, Sarah Morland, Bill Berkrot Organizations: Reuters, Libertad, Thomson Locations: BUENOS AIRES, Argentine, Felipe, Manolito, Buenos Aires, Japan

"Social media is the new way of doing politics," said Eugenia Rolon, an 21-year-old influencer who describes herself as anti-feminist and fighter of a "cultural battle" against progressive ideas. Cerimedo said social media support for Milei was organic, and played down previous comments he made to local media that he had used AI-powered trolls. "Many people said Javier was going to do poorly because what happened on social media was my trolls," Cerimedo said. Agustin Romo, 27, a legislative candidate for Buenos Aires province with Milei's Libertad Avanza party, informally coordinates the social media team. "These are people who are contributing their grain of sand where they can, so that Argentina changes and Javier Milei becomes president," Romo said.

Persons: Javier Milei, Karina Milei, Agustin Marcarian, Elon Musk, Eugenia Rolon, Donald Trump, Jair, Milei, That's, Sergio Massa, Patricia Bullrich, Tucker Carlson, Bolsonaro, Diego Corbalan, Bullrich, Jeremias Madrazo, Madrazo, Massa, Inaki Gutierrez, Argentine, Fernando Cerimedo, Cerimedo, Javier, Carlson, Musk, overspending, Agustin Romo, Romo, Anna, Catherine Brigida, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, REUTERS, Elon, YouTube, Reuters, Peronist, Buenos, Milei's Libertad, Thomson Locations: La Plata, Buenos Aires, Argentina, BUENOS AIRES, Massa, Milei's Libertad Avanza, Candelaria

☆ Argentina set for primary vote with ruling Peronists fighting for survival
▼ + stars: | 2023-08-13 | by ( Nicolás Misculin | ) www.reuters.com time to read: +3 min

"I am thinking of leaving my vote blank," said Micaela Panzera, a 22-year-old employee of a food company in Buenos Aires. We have seen warning signs of this in the provincial elections held up to now," said political analyst Carlos Fara. Pollsters see the combined Together for Change opposition candidates just ahead of the ruling Peronist bloc, with Milei pulling close to 20%. In the 2019 primary the polls were proved badly wrong. Reporting by Nicolás Misculin; Additional reporting by Candelaria Grimberg; Editing by Adam Jourdan and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Horacio Larreta, Sergio Massa, Micaela Panzera, Patricia Bullrich, Javier Milei, Goldman Sachs, Carlos Fara, Nicolás Misculin, Candelaria Grimberg, Adam Jourdan, Jonathan Oatis Organizations: Peronist, International Monetary Fund, Buenos Aires, Reuters Graphics Reuters, Change, Thomson Locations: BUENOS AIRES, Buenos Aires

☆ Voter anger, apathy hang over Argentina primary elections
▼ + stars: | 2023-08-11 | by ( Nicolás Misculin | ) www.reuters.com time to read: +4 min

Pollsters, however, said voter apathy could mean big shifts late in the race, with many people still undecided. The primary election will give the clearest indication yet of what the October general election result is likely to be. "I still don't know who I'm going to vote for and I think we're all in the same position. "I'm going to vote because I don't want to pay the fine, but I still don't know who. Despite voting being obligatory by law, voter turnout is also expected to be down and could affect the result.

Persons: Sergio Massa, Kristalina Georgieva, Evelyn Hockstein, Javier Milei, Pablo Vairo, Facundo Nejamkis, Horacio Larreta, Patricia Bullrich, Cristian Guardo, Maximiliano Herrera, Karina, Nicolas Misculin, Juan Bustamante, Adam Jourdan, Diane Craft Organizations: Monetary Fund, IMF, REUTERS, Peronist coalition's, Economy, Peronist, Reuters, Primaries, pollster Opina, Milei, Reuters Graphics Reuters, la Patria, Thomson Locations: Washington , U.S, BUENOS AIRES, Argentina, Buenos Aires, pollster, pollster Opina Argentina, Peronist, Candelaria

☆ AI imagines kids of victims kidnapped during Argentina dictatorship
▼ + stars: | 2023-07-25 | by ( Candelaria Grimberg | ) www.reuters.com time to read: +3 min

After Argentina's 1976 military coup, about 30,000 people including about 500 children and babies were killed or disappeared, almost all of them civilians. Mothers and grandmothers of the victims, the Abuelas of Plaza de Mayo, rose to prominence advocating for answers about their loved ones. The group, which has located 132 grandchildren, thanked the initiative but noted that DNA testing remains the "only infallible" identification method. Barros said he had always aimed to support Abuelas' mission, using AI as a way for younger generations to examine past atrocities. But "it does not replace the DNA samples or any of the Abuelas methods" such as investigating possible illegal adoptions and collecting DNA samples, he noted.

Persons: Santiago Barros, Marta Bugnone, Jorge Ayastuy, Argentina's, Read, Barros, Esteban Herrera, Abuelas, Herrera, Candelaria Grimberg, Lucila Sigal, Kylie Madry, Anna, Catherine Brigida, Richard Chang Organizations: Thomson Locations: Argentine, BUENOS AIRES, Instagram, Plaza de Mayo

☆ Argentines tighten wallets to fight spiraling inflation
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

BUENOS AIRES, July 13 (Reuters) - Argentines are tightening their wallets to make end meets as the South American country battles inflation which could surpass 140% on an annual basis this year, hunting for the cheapest prices on basic goods to shield their income. Inflation in the 12 months through June hit 115.6%, official data showed on Thursday. While Argentines are on track this year to keep up their high steak consumption, higher prices are taking a bite out of their selections. Analysts forecast that annual inflation could close this year at 142.4% compared to 94.8% last year, according to a central bank poll, steadily cutting away at consumers' purchasing power in Latin America's third-largest economy. The country is seeking adjustments as rising inflation, a weakening peso and a historic drought hamper exports and financial reserves.

Persons: INDEC, Gabriel Segovia, Sergio Massa, Annabella Paez, Horacio Soria, Sarah Morland, Susan Heavey, Diane Craft Organizations: Economy, Analysts, International Monetary Fund, Reuters, IMF, Thomson Locations: BUENOS AIRES, American, Buenos Aires, Argentine, Candelaria

☆ Argentina inaugurates key gas pipeline to reverse energy deficit
▼ + stars: | 2023-07-09 | by ( Candelaria Grimberg | ) www.reuters.com time to read: +2 min

SALLIQUELO, Argentina, July 9 (Reuters) - Argentina inaugurated on Sunday the first stage of a gas pipeline that will carry natural gas from the Vaca Muerta formation in western Argentina to Santa Fe province by way of Buenos Aires province, an essential work to reverse the country's significant energy deficit. It has the second unconventional gas reserves worldwide and the fourth in oil. The completion of the first stage of the gas pipeline, which starts in Neuquen province and reaches Buenos Aires province, adds 11 million cubic meters of gas per day. This will double when the compression plants are installed in Tratayen, in Neuquen province, and in Salliquelo, in Buenos Aires province. "We are no longer going to import gas in ships because we are going to use the gas from our subsoil."

Persons: Vaca Muerta, Sergio Massa, " Massa, Agustin Gerez, Candelaria Grimberg, Eliana Raszewski, Anna, Catherine Brigida, Diane Craft Organizations: Energia Argentina, Thomson Locations: SALLIQUELO, Argentina, Vaca, Santa Fe, Buenos Aires, Belgium, Patagonia, Neuquen province, Tratayen, Salliquelo, San Jeronimo

☆ Goldman warns that higher Fed rates could lead to sharp sell-off in stocks
▼ + stars: | 2023-03-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A more aggressive Federal Reserve when it comes to interest rate hikes could mean trouble for stocks and other assets, according to Goldman Sachs. Fed Chairman Jerome Powell shook Wall Street this week when he said, during separate appearances on Capitol Hill, that he expects the central bank to push rates higher than previously thought. Hotter inflation data means the Fed still has work to do, Powell said in his semiannual testimony on monetary policy. While Goldman thinks it's a "close call" that the Fed is still more likely to approve a 0.25-point hike , the firm is making room now for a higher trajectory for rates. Markets Thursday morning were pricing in a nearly 81% probability of a 50-basis point, or 0.5 percentage point, rate hike at the meeting, according to CME data.

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