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Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden’s administration.
The near-global unity in condemning Russia for waging war on Ukraine triggered an unprecedented use of sanctions to effect change of the most dramatic kind. But with smaller efforts failing to work with North Korea and Iran, will it be enough? Or will Vladimir Putin simply wait out the West, continuing his daily killing of Ukrainian civilians while letting the Russian economy collapse?
Inflation-Hit Metals Producers Are Seeing Early Signs of Cost Relief
Euro’s Drop Risks Inflation Via Imports, German Minister Says
Bank of Canada Dials Back Pace of Hikes Amid Recession Fears
Italy’s Meloni Mulls New Aid Package Worth Up to €10 Billion
UK Real Wages Fell at Sharpest Pace Since 2010 Financial Crisis
Ye-Adidas Divorce Muddles Ownership of Yeezy Brand, Designs
Shaw Soars as Minister’s Intervention Boosts Odds of Rogers Deal
TikTok Plans To Expand London Footprint With New Office
Volkswagen Will Make Only Electric Cars in Europe Within Next 10 Years
Mobileye Rises Up to 36% in Year’s Best Debut for Big US IPO
South Africa Seeks Independent Advice on Eskom Debt Relief
Uganda to Start Ebola Vaccine Trials in Two Weeks as Cases Rise
Americans Eye European Colleges to Save Money on Tuition
What Is Happening to Triple Lock on State Pensions and How Much Would It Cost UK?
Moroccan Rapper Accused of Praising Hashish Released on Bail
No Black Players Expected in World Series, a 1st Since 1950
Musk Will Buy Twitter at the Last Minute
European Banks Are Turning Back the US Tide
What Parents Can Do as RSV Spikes Among Children
California’s Tech Millionaires Can’t Agree About Tax to Fund EVs
From Bedrooms to Kitchens, Europe Ponders How Cold Is Too Cold
No, Artists and Designers Aren’t About to Lose Their Jobs to AI
Ye’s Lawyers on Gap Contract Drop the Rapper After Antisemitic Remarks
NYC to Cut Number of Middle Schools Using Admissions Screening by 70%
London to Top Up Electric Bus Fleet With Overhead Chargers
Canada’s Shrinking St. Lawrence Latest Threat to Shipping Routes
Robert Moses Returns to New York City, in Theatrical Form
Libraries Can Unite a Lonely, Divided Nation
Denver Supportive Housing Experiment Breaks Street-to-Jail Cycle
Crypto’s New Class of Kingpins Emerge After The Merge
Fed’s Waller ‘Not a Big Fan’ of Central Bank Digital Currencies
What is Crypto For? Matt Levine Wants To Know
Tassia Sipahutar
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Good morning. Fed’s drumbeat is going strong, nuclear “Armageddon,” banks meet with UK’s Kwarteng, Credit Suisse eyes outside investor and Elon Musk must make good on his Twitter agreement. Here’s what people are talking about.
Federal Reserve officials kept up the drumbeat of support for extending their run of interest-rate hikes, stressing the need to quash inflation that’s proved unexpectedly stubborn. Five officials, from Governor Christopher Waller to Cleveland Fed President Loretta Mester, delivered a resolutely hawkish message that inflation is too high and they won’t be deterred from raising rates by volatility in financial markets. The median of the 19 policymakers’ latest projections sees another 1.25 percentage points of increases over their two remaining meetings of the year, with investors pricing a 75 basis-point move when they gather Nov. 1-2. Fed forecasts show an additional 25 basis-point increase next year, with policy staying at restrictive levels until at least 2024.
