RBA Delivers Smaller Than Expected Rate Hike

Australia’s central bank raised its benchmark rate by a smaller-than-expected quarter point on Tuesday, after lifting rates by 50 basis points in each of the last four meetings. The policy board of the Reserve Bank of Australia, headed by Governor Philip Lowe, decided to lift the cash rate target by 25 basis points to 2.60 percent from 2.35 percent. This […]

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USPS workers arrested in $1.3M credit card fraud, identity theft scheme

video FOX Business Flash top headlines for October 4 Check out what’s clicking on FoxBusiness.com The Justice Department said that three U.S. Postal Service workers were arrested last week in connection with the theft and unauthorized use of credit cards resulting in the loss of more than $1.3 million. According to a release from the DOJ, individuals allegedly worked with […]

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Robinhood closing 5 additional offices in restructuring

video Market strategist Brian Belski predicts rebound for 2023 BMO Capital Markets chief investment strategist Brian Belski breaks down the market and shares his predictions for the next two years. Robinhood Markets Inc. is partially or completely closing five more of its offices as part of a restructuring program announced in August. According to an 8-K filing with the U.S. […]

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Hurricane Ian victims in Florida qualify for tax relief, IRS says

video Supply chain issues likely to delay Hurricane Ian recovery: Bindiya Vakil Resilinc Founder & CEO Bindiya Vakil joined ‘Kennedy’ to weigh in on supply chain issues and power outages in Florida as a result of Hurricane Ian.  The Internal Revenue Service announced Thursday that victims of Hurricane Ian in Florida qualify for tax relief.  Those impacted by Ian have […]

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Fed's preferred inflation gauge accelerated more than expected in August

video ‘Volcker-ized’ Fed fighting inflation at the expense of growth, strategist says Aegon Asset Management chief macro strategist Frank Rybinski argues until there is a ‘dovish Fed pivot’ market volatility will persist on ‘The Claman Countdown.’ The Federal Reserve's preferred inflation gauge accelerated again in August, keeping prices elevated near a four-decade high, according to new data released on Friday, […]

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Fed inflation policy to bring consumer spending to 'screeching halt' ahead of holiday season: Gerald Storch

video Fed policies will bring consumer spending to ‘screeching halt’: Gerald Storch Former Toys ‘R’ Us chairman and CEO Gerald Storch argues the Fed’s policies focusing on money and not government spending are going to bring consumer spending to a standstill. Former Toys ‘R’ Us chairman and CEO Gerald Storch argued on "Varney & Co." Friday that consumer spending is […]

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Bank Of England Hikes Rate By 50 Bps; Sees Economy In Recession

The Bank of England raised the benchmark rate by a half percentage point on Thursday, defying expectations for a bigger move, as policymakers assessed that the UK economy has already landed in a recession. The Monetary Policy Committee decided to raise the bank rate by 50 basis points to 2.25 percent from 1.75 percent, in a three-way split vote. The […]

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Forget a 10% Social Security Increase

The tens of millions of Americans who currently wait for how much Social Security payments will rise can kiss goodbye the chance it will be 10%. The official announcement will be made in the middle of next month. However, the increase should be among the largest in years. With any luck, because of consumer price index numbers, the jump could […]

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