NEWSLETTER
Thursday / September 29Sep 29
Friday / June 10
Russian warning
Russia warned the West on Thursday that cyber-attacks against its infrastructure risked leading to direct military confrontation
The warning follows Russia's housing ministry website appeared to be hacked over the weekend.
In a statement, the foreign ministry said that Russia's critical infrastructure and state institutions were being hit by cyberattacks and pointed to figures in the United States and Ukraine as being responsible. The ministry said that attempts to challenge Moscow in the cyber sphere would be met with targeted countermeasures.
"Rest assured, Russia will not leave aggressive actions unanswered," it said. "All our steps will be measured, targeted, in accordance with our legislation and international law."
The statement, issued by the ministry's head of international information security, said Washington was "deliberately lowering the threshold for the combat use" of IT.
Yellen commnents
Treasury Secretary Janet Yellen said on Thursday that she expected the United States economy to slow as the Federal Reserve raised interest rates to tame inflation but that she did not anticipate a recession.
Speaking at a policy forum, Yellen said that the global economy faced an array of serious threats and that gas prices were unlikely to fall in the near term. However, she said that the U.S. economy remains strong despite rising prices and that a solid labor market and robust household finances should be able to continue to propel consumer spending.
“There’s nothing to suggest a recession is in the works,” Ms. Yellen said. “It’s unlikely that gas prices are going to fall anytime soon,” she added though.
US May inflation
Economists expect inflation in May to have continued getting higher, with energy, food, rent and health-care costs all rising.
According to Dow Jones, economists expect the consumer price index rose 0.7%, up from 0.3% in April. On a year-over-year basis, that would work out to an 8.3% rate, the same pace as April.
Economists expect to see some cooling in core inflation, meaning the measure with energy and food excluded. Core CPI is expected to rise 0.5% or 5.9% year over year, according to Dow Jones. That compares to 0.6% in April, or 6.2% on a year-over-year basis.
ECB rates
The European Central Bank on Thursday confirmed its intention to hike interest rates at the policy meeting next month and downgraded its growth forecasts.
Following the latest monetary policy meeting, the Governing Council announced it intends to raise key interest rates by 25 basis points at the July meeting.
The ECB expects a further hike at the September meeting, but said the scale of that increment would depend on the evolving trajectory of the medium-term inflation outlook.
For now, the interest rates on the main refinancing operations, marginal lending facility and deposit facility remain unchanged at 0.00%, 0.25% and -0.50%, respectively.
“Beyond September, based on its current assessment, the Governing Council anticipates that a gradual but sustained path of further increases in interest rates will be appropriate,” the ECB said in a statement Thursday.
US stocks
Stocks fell sharply on Thursday ahead of a key inflation report as investors worried about the state of the U.S. economy.
The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The S&P 500 dropped 2.38% to settle at 4,017.82, and the Nasdaq Composite shed 2.75% to come in at 11,754.23.
Major tech stocks struggled, with Meta Platforms sliding 6.4% and Amazon dropping more than 4%. Apple sank 3.6%
Boeing was the worst performer in the Dow, falling more than 4%.
Russia warned the West on Thursday that cyber-attacks against its infrastructure risked leading to direct military confrontation
The warning follows Russia's housing ministry website appeared to be hacked over the weekend.
In a statement, the foreign ministry said that Russia's critical infrastructure and state institutions were being hit by cyberattacks and pointed to figures in the United States and Ukraine as being responsible. The ministry said that attempts to challenge Moscow in the cyber sphere would be met with targeted countermeasures.
"Rest assured, Russia will not leave aggressive actions unanswered," it said. "All our steps will be measured, targeted, in accordance with our legislation and international law."
The statement, issued by the ministry's head of international information security, said Washington was "deliberately lowering the threshold for the combat use" of IT.
Yellen commnents
Treasury Secretary Janet Yellen said on Thursday that she expected the United States economy to slow as the Federal Reserve raised interest rates to tame inflation but that she did not anticipate a recession.
Speaking at a policy forum, Yellen said that the global economy faced an array of serious threats and that gas prices were unlikely to fall in the near term. However, she said that the U.S. economy remains strong despite rising prices and that a solid labor market and robust household finances should be able to continue to propel consumer spending.
“There’s nothing to suggest a recession is in the works,” Ms. Yellen said. “It’s unlikely that gas prices are going to fall anytime soon,” she added though.
US May inflation
Economists expect inflation in May to have continued getting higher, with energy, food, rent and health-care costs all rising.
According to Dow Jones, economists expect the consumer price index rose 0.7%, up from 0.3% in April. On a year-over-year basis, that would work out to an 8.3% rate, the same pace as April.
Economists expect to see some cooling in core inflation, meaning the measure with energy and food excluded. Core CPI is expected to rise 0.5% or 5.9% year over year, according to Dow Jones. That compares to 0.6% in April, or 6.2% on a year-over-year basis.
ECB rates
The European Central Bank on Thursday confirmed its intention to hike interest rates at the policy meeting next month and downgraded its growth forecasts.
Following the latest monetary policy meeting, the Governing Council announced it intends to raise key interest rates by 25 basis points at the July meeting.
The ECB expects a further hike at the September meeting, but said the scale of that increment would depend on the evolving trajectory of the medium-term inflation outlook.
For now, the interest rates on the main refinancing operations, marginal lending facility and deposit facility remain unchanged at 0.00%, 0.25% and -0.50%, respectively.
“Beyond September, based on its current assessment, the Governing Council anticipates that a gradual but sustained path of further increases in interest rates will be appropriate,” the ECB said in a statement Thursday.
US stocks
Stocks fell sharply on Thursday ahead of a key inflation report as investors worried about the state of the U.S. economy.
The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The S&P 500 dropped 2.38% to settle at 4,017.82, and the Nasdaq Composite shed 2.75% to come in at 11,754.23.
Major tech stocks struggled, with Meta Platforms sliding 6.4% and Amazon dropping more than 4%. Apple sank 3.6%
Boeing was the worst performer in the Dow, falling more than 4%.
