Business
Jerome Powell said that the Federal Reserve may have to raise interest rates higher than it had anticipated only recently, because new data on inflation, jobs and spending pointed to an overheating economy. The Fed lifted its main rate by a quarter of a percentage point at its last meeting, but investors now reckon it could increase the rate by half a point on March 22nd. Stockmarkets swooned.
Meanwhile, and pouring more cold water on investors’ hopes of smaller interest-rate rises, Christine Lagarde said that “inflation is a monster that we need to knock on the head” and that price pressures remain “sticky”. The president of the European Central Bank said another half-point increase by the ECB on March 16th was “very, very likely”.
Arm, a British chip designer owned by SoftBank, will reportedly raise up to $8bn in a blockbuster IPO later this year. In a blow to the London Stock Exchange, and the lobbying efforts of three prime ministers, Arm has decided to list only in New York.
2023-03-09 09:25:20
Article from www.economist.com