Global News

[ad_1] WASHINGTON : The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two US banks. The move set the US central bank's benchmark overnight interest rate in the 4.75%-5.00% range, with updated projections showing 10 of 18 Fed policymakers still expect rates to rise another quarter of a percentage point by the end of this year, the same endpoint seen in the December projections. But in a key shift driven by the sudden failures this month of Silicon Valley Bank (SVB) and Signature Bank, the Fed's latest policy statement no longer says that "ongoing increases" in rates will likely be appropriate. That language had been in every policy statement since the March 16, 2022 decision to start the rate hiking cycle. Instead, the policy-setting Federal Open Market Committee said only

[ad_1] NEW YORK: Stocks rose again Thursday after more companies reported better profits than expected, while yields climbed after a Federal Reserve official cautioned the end to its interest-rate hikes may not arrive as soon as Wall Street hoped. The S&P 500 gained 0.9%, adding to its rally from the day before as hopes rise further that the US government can avoid a disastrous default on its debt. The Dow Jones Industrial Average added 115 points, or 0.3%, while the Nasdaq composite climbed 1.5%. Video game maker Take-Two Interactive shot to the biggest gain in the S&P 500 after it forecast a huge jump in revenue for the fiscal year following this one. That stoked speculation that Grand Theft Auto VI is on the way, and its stock jumped 11.7%. Bath & Body Works was close behind with a gain of 10.7%. It reported stronger revenue and earnings for the latest quarter than analysts expected. Also helping to support Wall Street was another retailer, Walmart , which rose 1.

[ad_1] WASHINGTON: According to a study of more than 10,000 kids in rural Pennsylvania, many kids were fed foods high in sugar and salt throughout their early years of life. Experts contend that exposing young infants to excessively sugary or salty foods can influence their taste preferences and, over time, develop bad eating habits. "Given that these foods are not recommended for children, these numbers are concerning," said Carolyn F. McCabe , PhD, a staff scientist in the Department of Population Health Sciences and the Center for Obesity and Metabolic Research at Geisinger. "Early exposure to foods and beverages high in sugar, fat, and sodium can potentially have negative consequences for the healthy growth and development of infants and children." "Early life is such a critical period for establishing eating habits and food preferences, and these preferences and behaviors around food can persist as children grow," said McCabe. She added that

[ad_1] WASHINGTON : A united US Federal Reserve agreed to hold interest rates steady at the June meeting as a way to buy time and assess whether further rate hikes would be needed, even as the vast bulk expected they would eventually need to tighten policy further, according to meeting minutes released on Wednesday. While "some participants" wanted to move ahead with a rate hike in June because progress in cooling inflation had been slow, "almost all participants judged it appropriate or acceptable to maintain" the federal funds rate at the existing 5% to 5.25%, the minutes said. "Most of those participants observed that leaving the target range unchanged at this meeting would allow them more time to assess the economy's progress," toward returning inflation to 2% from its current level more than twice that. The minutes added detail to the policy statement and economic projections issued after the June 13-14 session, when the Fed ended its 10-m