Fed Lifts Rates by 0.75 Point Again
WASHINGTON—The Federal Reserve continued a sprint to reverse its easy-money policies by approving another unusually large interest rate increase and signaling more rises were likely coming to combat inflation that is running at a 40-year high.
Mr. Powell said Wednesday it was too soon to say whether the Fed would dial down the size of its rate increases to a half-percentage point or a quarter-percentage point at its next meeting in September. But he said that at some stage, it would be appropriate to slow the pace of rate increases to assess their cumulative impact on the economy.
Fed officials are raising rates at the most aggressive pace since the 1980s. Until last month, the central bank hadn’t raised rates by 0.75 point since 1994.
https://www.wsj.com/articles/fed-raises-interest-rates-by-0-75-percentage-point-11658944935
Fed Lifts Rates by 0.75 Point Again
Powell expects further increases even as some economic indicators show signs of softening.
www.wsj.com
easy money policy
a monetary policy that increases the money supply usually by lowering interest rates (specially, FED used this policy because of COVID-19 outbreak)
JetBlue Nears Deal to Buy Spirit
JetBlue JBLU 3.58%▲ Airways Corp. is nearing a deal to buy Spirit Airlines Inc. SAVE 3.93%▲ according to people familiar with the matter.
It would be the culmination of JetBlue’s efforts to wrest Spirit away from Frontier Group Holdings Inc.—a ULCC 6.42%▲ rival budget carrier that had already struck a deal to buy Spirit when JetBlue swooped in with a competing offer.
The deal, if it gains approval by regulators, would create the fifth-largest carrier in the U.S. JetBlue and Frontier have been engaged in a fierce bidding war for Spirit since the spring in what has become the airline industry’s most heated contest in years.
Still, JetBlue’s victory over Frontier would mark the beginning of another fight to get antitrust regulators to bless the deal. The Justice Department for years has been concerned that airline competition is dwindling after years of mergers, and the Biden administration has taken a tough stance on antitrust enforcement and corporate mergers broadly.
Spirit and Frontier had previously argued that regulators would almost certainly prevent a merger between Spirit and JetBlue. Frontier executives said Wednesday that they were disappointed in the outcome, but said Frontier was poised to grow as a stand-alone airline.
https://www.wsj.com/articles/jetblue-nears-deal-to-buy-spirit-11658976461?mod=hp_lead_pos1
WSJ News Exclusive | JetBlue Nears Deal to Buy Spirit
The agreement between the two airlines could be announced as soon as Thursday, according to people familiar with the matter, and comes after a deal between Spirit and rival budget carrier Frontier was terminated.
www.wsj.com
U.S., Europe Dig In for Long Economic Standoff With Russia
Western governments are bracing for a protracted economic confrontation with Russia over its invasion of Ukraine, as Moscow fights back against international sanctions by disrupting energy and food supplies.
On Wednesday, Russia cut natural gas flows on the crucial Nord Stream pipeline to Germany to 20% of capacity, down from 40%, stoking fears that Western Europe might not be able to stockpile the gas it will need to get through the winter. Natural-gas prices in Europe in early trading rose more than 8% to about 220 euros, equivalent to $223, a megawatt-hour in response to the move. Over the weekend, Russian missiles hit port facilities in Odessa, a day after Moscow agreed to allow safe passage of grain from the Ukrainian port.
The twin moves demonstrated Moscow’s willingness to choke supplies of essential goods in an effort to hit back at the West as it tries to punish Russian President Vladimir Putin for a war that has killed thousands of people and displaced millions.
Western officials, however, argue that time is on their side. Russia’s squeeze on energy and food shipments is causing immediate pain. They predict a slow bleed that will degrade Russia’s economy over time and say Russian consumers already have been cut off from Western goods and services. The toll exacted by Western sanctions on a now-isolated Russia, however, will climb as the months pass, they say, and as Russia’s industrial base erodes.
U.S., Europe Dig In for Long Economic Standoff With Russia
As Moscow again cuts natural gas flows on Nord Stream, Washington and Brussels are betting on longer-term effects of sanctions.
www.wsj.com
Welcome to Aotearoa? The Campaign to Decolonize New Zealand’s Name
Now, some lawmakers want New Zealanders to drop a name that harks back to an era of colonization and adopt another—Aotearoa, a Māori word referring to the clouds that indigenous oral history says helped early Polynesian navigators make their way here.
Around the world, several countries are rethinking their identities to address resentment at their colonial past and forge a new future. - changing the head of state(Barbado), the official name(Eswatini), its national anthem(Australia)
In New Zealand, the issue is coming to a head because a petition to rename the country Aotearoa—pronounced ‘au-te-a-ro-uh’—garnered more than 70,000 signatures and will be considered by a parliamentary committee that could recommend a vote in Parliament, put it to a referendum or take no further action.
Opinion polls suggest advocates of a new identity face an uphill battle. More than half of respondents want to keep New Zealand, according to one survey by market-research company Colmar Brunton. Still, Aotearoa alone or Aotearoa New Zealand command about a combined 40% support.
Welcome to Aotearoa? The Campaign to Decolonize New Zealand’s Name
A petition to rename the country Aotearoa—a Māori word—has garnered more than 70,000 signatures and will be considered by a parliamentary committee.
www.wsj.com
New Group to Promote Open-Source Intelligence, Seen as Vital in Ukraine War
WASHINGTON—A group of former U.S. national security officials has formed a professional association to promote the tradecraft of open-source intelligence, the analysis of publicly available data that has helped Western powers understand and track Russia’s war on Ukraine.
Only recently have intelligence officials begun to see OSINT as on par with intelligence derived from stolen secrets, or even more valuable.
In the past months, streams of open-source intelligence such as location-tracking apps, satellite imagery, drone cameras and social media posts have shed light on Russian military movements, troop morale and potential war crimes.
The Open Source Intelligence Foundation doesn’t plan to push for specific policies in a field that has largely been unregulated and prompted growing concern from privacy advocates, but does intend to advocate for the need for clear policies generally, Ms. Alexander said.
WSJ News Exclusive | New Group to Promote Open-Source Intelligence, Seen as Vital in Ukraine War
A group of ex-U.S. national security officials has formed a professional association to promote the tradecraft of ‘open-source’ intelligence, the analysis of publicly available data that has helped Western powers understand and track Russia’s war on
www.wsj.com
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