Business

WASHINGTON (Reuters) — Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to fall to the central bank’s 2% target, adding that it will be “moving down” gradually from the current level. A surge in inflation, which is at its highest le…

HONG KONG (Reuters) — The cryptocurrency industry was on edge on Monday morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained. Bitcoin which has lost 57% so far this year and 37% this month, fell below $20,000 over the weekend fo…

(Press Release) — DFS is proud to announce the recent promotion of Rachel Tan as its new vice president operations for T Galleria by DFS, Mid Pacific In her new role, Tan will work on the development of the growth strategies for Guam and Saipan as well as foster relationships with local business le…

LONDON (AP) — The price of bitcoin fell below $20,000 for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than …

NEW YORK (Reuters) — World stocks on Friday closed out their steepest weekly slide since the pandemic meltdown of March 2020, as investors worried that tighter monetary policy by inflation-fighting central banks could damage economic growth. The U.S. Federal Reserve’s biggest rate hike since …

(Reuters) — U.S. stock indexes tumbled on Thursday, with high-profile tech shares leading the rout, after the Federal Reserve’s largest rate increase since 1994 to combat decades-high inflation fanned worries of a recession. The selloff was severe as the Fed’s aggressive move raised fea…

(Reuters) — Major cryptocurrency volatility has hit stablecoins, typically considered the market’s safer-havens, with investors pulling money out of the sector and several losing the peg to their underlying assets. The market capitalization of stablecoins had plummeted to $156.8 billion on Th…

WASHINGTON (Reuters) — The Federal Reserve on Wednesday approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that U.S. central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly…

WASHINGTON (Reuters) — U.S. retail sales unexpectedly fell in May as motor vehicle purchases declined amid rampant shortages, and record high gasoline prices pulled spending away from other goods. The first drop in sales in five months reported by the Commerce Department on Wednesday also suggested…

LONDON/NEW YORK (Reuters) — Bitcoin slumped on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world’s largest cryptocurrency fell as much as 7.8% to $20,079.72,…