Federal Reserve Pause Would Have Been Appropriate: Former Vice Chair
Former Federal Reserve Vice Chair Alan Blinder discusses the central bank's decision to raise interest rates at a ninth straight meeting. The Federal Open Market Committee indicated there may be more hikes to come in a clear sign it's confident that its bid to quell inflation won't deepen a nascent banking crisis. Blinder, who was a member of President Bill Clinton's original Council of Economic Advisers and now a professor at Princeton University, speaks on "Bloomberg Daybreak: Australia." Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness/ Instagram: https://www.instagram.com/quicktake/?hl=en
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The Federal Reserve increases its key rate yet again, the Muslim holy month of Ramadan began at sundown, and a17-year-old student shot and wounded two school administrators in Denver. Get that and more top news here.
Stocks closed higher again as more fear evaporates from Wall Street. The S&P 500 added 0.6% Thursday, its fifth gain in the past six days.Â
