In a unanimous vote, the central bank raised its benchmark rate by a quarter point to combat what it calls 'elevated' inflation, sending Treasury yields to 52-week highs and signaling more hikes could be on the way.
The tape So Money with Farnoosh Torabi · Sep 18
“On Wednesday, the Fed voted unanimously to increase its benchmark federal funds rate by a quarter of a percentage point, bringing its target range to three and three quarters percent to four percent.”
5:09 / --:--
All-In with Chamath, Jason, Sacks & Friedberg · Brad Gerstner: No AI Bubble, Semis Eat the Nasdaq & AI's Take Off ProblemSep 17
Top AI labs are in a race to generate enough revenue to pay the massive infrastructure rent to hyperscalers. One fund manager says the demand is real, likening it to a decade-long cycle, but the numbers have to add up fast.
The Indicator from Planet Money · Strait talk: Why the oil crisis is getting worseSep 17
Iran-allied rebels have captured Bahrain Island in the critical Bab el-Mandeb Strait, a chokepoint for oil, gas, and container ships. The move threatens to halt traffic entirely in a waterway already slowed by attacks.