Town Hall News

PALO ALTO, Calif. (Reuters) – St. Louis Federal Reserve Bank President James Bullard, an early and vocal supporter within the U.S. central bank of rapid interest-rate hikes to beat back soaring inflation, on Friday signaled guarded optimism that the effort is working. “Monetary policy is now at the low end of what is arguably sufficiently restrictive given current macroeconomic conditions,” Bullard said in remarks prepared for delivery to a monetary […]

By Asif Shahzad and Ariba Shahid ISLAMABAD (Reuters) -A Pakistani court ordered former Prime Minister Imran Khan’s release on bail for two weeks, his lawyer said on Friday, after his arrest in a land fraud case ignited deadly protests and a tussle with the military. Khan departed the court premises, headed towards his hometown Lahore, amidst high security. He had remained inside for hours after being granted bail, saying he […]

PALO ALTO, Calif. (Reuters) – The Federal Reserve is “on track” to doing what is necessary to meet the two mandates Congress has given it, Fed Governor Philip Jefferson said on Friday: bring inflation down and enable Americans who want jobs to get them. The Fed has raised its benchmark interest rate five full percentage points over the past 14 months. Inflation by the Fed’s preferred measure has eased from […]

By Trevor Hunnicutt WASHINGTON (Reuters) – Leaders of the Group of Seven (G7) countries are set to issue a statement of concern about China’s use of “economic coercion” in its dealings abroad when they gather next week, according to a U.S. official familiar with the discussions. The statement, a likely component of the overall communique that will be released by leaders during the May 19-21 summit in Hiroshima, Japan, is […]

By Ann Saphir, Andrea Shalal and Jeff Mason WASHINGTON (Reuters) -U.S. President Joe Biden on Friday nominated Federal Reserve Governor Philip Jefferson to be the central bank’s vice chair, a key policy advisory role recently vacated when Lael Brainard took a top position in Biden’s White House economics team. Biden also nominated the World Bank’s U.S. executive director, Adriana Kugler, to be a Fed governor, adding a labor economist to […]

By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase & Co on Friday asked a federal judge to deny class-action status to more than 100 women who said the bank helped enable the late financier Jeffrey Epstein to sexually abuse them. In a filing in Manhattan federal court, the largest U.S. bank said Epstein’s accusers had too many differences to sue under an “oversimplified” theory that it was liable to […]

By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase & Co on Friday asked a federal judge to deny class-action status to more than 100 women who said the bank helped enable the late financier Jeffrey Epstein to sexually abuse them. In a filing in Manhattan federal court, the largest U.S. bank said Epstein’s accusers had too many differences to sue under an “oversimplified” theory that it was liable to […]

By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Administration (NHTSA) demanded the recall of 67 million air bag inflators because it believes there is a safety defect, but auto supplier ARC Automotive Inc rejected the U.S. regulator’s request, documents released on Friday show. The auto safety agency said the inflators pose an unreasonable risk of death or injury. Even as ruptures mount, “ARC has not made a defect […]

By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Administration (NHTSA) demanded the recall of 67 million air bag inflators because it believes there is a safety defect, but auto supplier ARC Automotive Inc rejected the U.S. regulator’s request, documents released on Friday show. The auto safety agency said the inflators pose an unreasonable risk of death or injury. Even as ruptures mount, “ARC has not made a defect […]