Business

Stocks fell on Tuesday after the Federal Reserve chief warned it could turn the dial on its rate hikes again if inflationary pressures remain high. The warning rocked markets and fueled concerns about a possible recession later. The S&P 500 fell 1.5% on one of its worst days of the year so far. The Dow Jones Industrial Average lost 574…

When recession warnings peaked last year, the only thing that reassured people like Bank of America CEO Brian Moynihan was that Americans were still spending. High US consumer spending has helped protect against a severe economic downturn thanks to $2.5 trillion in excess savings accumulated during the pandemic, but that buffer is fast disappearing and the economy could falter as…

Florida Gov. Ron DeSantis positioned himself as the architect of a new conservative vision for the nation during a state of the state speech on Tuesday, in which he presented his aggressive stance during the pandemic and culture wars as a blueprint for Republican leadership. The address came at the start of a 60-day legislative session that has added political…

After an opening statement in which Chairman Jerome Powell sent stocks lower by hinting that the Fed could accelerate and amplify upcoming rate hikes, he addressed crypto and told senators he sees multiple risks when it comes to digital assets goes. “What we’re seeing is quite a bit of turmoil,” Powell said Tuesday before the Senate Committee on Banking, Housing…

Viktor Bout, a former Russian arms dealer who was released from US prison in December in a trade for WNBA star Brittney Griner, unveiled an exhibition of his artwork at a Moscow gallery on Tuesday. Bout, widely known abroad as the “dealer of death,” was convicted on terrorism charges in 2011, with prosecutors saying he was willing to sell up…

If you’re worried about being fired — or if you’ve lost your job — here are expert recommendations: If you worry, you could be fired Start saving It’s important to start building an emergency fund even when you feel secure in your job, but especially when you think you could lose it. You may not be able to save enough…

It’s more common these days for daycare centers across the country to permanently close their doors. But one small town in Iowa is trying to reverse the trend: Earlier this year, Fairfield, Iowa welcomed its newest venture, the Cambridge Little Achievers Centre. The 14,000-square-foot, state-of-the-art child care center opened on January 16 and will ultimately care for up to 185…

As companies tried to get employees back to work in person last year, Salesforce and its CEO Marc Benioff criticized the idea of ​​clerical mandates. Benioff argued in June that “office dates are never going to work.” And in September, the company’s chief people officer, Brent Hyder, wrote in a company blog post that “we’ve never had office mandates at…

South Korea’s PHA, which makes latches, hinges and other parts for vehicle doors and hoods, will become the sixth major supplier to settle near a Hyundai Motor Group plant being built on the Georgia coast. PHA announced Monday it would invest $67 million at a site about 15 miles west of Savannah and hire 400 people. The company already has…

New Jersey regulators are seeking additional offshore wind farm projects to generate electricity, even as opponents of wind power want to pause or halt the projects. The New Jersey Board of Public Utilities on Monday approved a third tender for offshore wind projects; Three wind farms have already been approved for the waters off southern New Jersey. “Today is a…