Fed’s Daly sets high bar for slowing rate hikes

Fed’s Daly sets high bar for slowing rate hikes

Federal Reserve Bank of San Francisco President Mary Daly sees a high bar for slowing the central bank’s 75 basis-point pace of interest-rate increases, though she’s watching key data between now and their November 1-2 meeting. “We’re data dependent. When the data show what we need to see, then we will downshift,” Daly said Wednesday … Read more

Wall St Week Ahead-Dashed peak inflation hopes spell more pain for stocks and bonds

Wall St Week Ahead-Dashed peak inflation hopes spell more pain for stocks and bonds

Blistering inflation is threatening to reignite twin declines in U.S. stocks and bonds, leaving investors with few places to hide from a Federal Reserve that appears headed for its most aggressive policy tightening in decades. Friday gave a hint of what investors may see in coming weeks. The benchmark S&P 500 index fell nearly 3% … Read more

Indian-American named to Houston Board of Dallas Federal Reserve Bank

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HOUSTON: Bhavesh V Patel, an Indian-American top executive of a multinational chemical company, has been appointed by the Federal Reserve Bank of Dallas to its Houston branch’s board of directors. Patel, 53, is the chief executive officer and chairman of the management board of LyondellBasell Industries, one of the largest plastics, chemicals and refining companies … Read more