U.S. inflation rose to 3 percent in January, strengthening the case for the Federal Reserve to extend a pause on interest rate cuts. The Consumer Price Index jumped more than expected, data from the Bureau of Labor Statistics showed on Wednesday, rising 0.5 percent from December in what was the fastest monthly increase since August … Read more
Stocks and bonds slumped on Wednesday, as fresh inflation data highlighted Wall Street’s sensitivity to rising price across the economy accelerating again. The S&P 500 fell as much as 1.1 percent in early morning trading, before moderating after testimony from Jerome H. Powell, the Federal Reserve chair, before Congress when he acknowledged that there was … Read more
Just in: Lawyers for Elon Musk said he’d withdraw his $97.4 billion bid for control of OpenAI if the company halted its efforts to become a for-profit enterprise. More below. Separately: You might recall that several years ago I wrote a series of columns, following a raft of mass shootings, that inspired the creation of … Read more