News

Sources say that lawyers for Federal Reserve Governor Tim Cook have condemned a new round of investigations launched by US President Donald Trump.

Federal Reserve's Collins: The Fed's economic models take into full account the level of government debt.

Federal Reserve's Collins: The Fed will not reconsider its 2% inflation target.

The U.S. Department of Justice has reported that a Saudi citizen has been arrested on suspicion of secretly installing recording devices at a San Francisco-based supersmart company (for OpenAI).

U.S. Central Command: The commander of the Iranian Revolutionary Guard Navy claimed today that the Strait of Hormuz is under the control of the Revolutionary Guard and that any U.S. Navy warships that approach will be "sunk." In fact, the commander of the Iranian Revolutionary Guard Navy has no navy. The U.S. military and its regional partners clearly control the Strait of Hormuz. Just yesterday, the U.S. military assisted its Gulf partners in transporting more than 19 million barrels of crude oil through the strait.

Federal Reserve's Collins: Officials are well aware that higher interest rates could present a variety of challenges.

Federal Reserve's Collins: Economic uncertainty has increased.

Federal Reserve's Collins: I'm watching to see if inflationary pressures in the data are widespread.

Federal Reserve's Collins: When considering the future direction of interest rate policy, the economic situation should be examined from a holistic perspective.

Ukrainian President Zelensky: According to our intelligence, Russia is preparing for a new missile launch. This demonstrates that Russia does not believe it needs to comply with the demands previously made by the US President.

Ukrainian President Zelensky: Russia launched a missile attack on Kyiv without prior warning. The primary target was energy facilities, specifically the Kyiv Thermal Power Plant No. 4 (TPP-4).

Bank of America (BAC.N) fell 2.24% in after-hours trading.

Bank of America (BAC.N) reached a $11.66 million settlement with the U.S. Treasury Department over 475 sanctions violations.

Bank of England Governor Bailey: I agree with Federal Reserve Chairman Warsh that the forward guidance was a bit too much.

Bank of England Governor Bailey: Over-reliance on forward guidance has made it impossible for us to take unconditional policy measures.

Bank of England Governor Bailey: The longer an inflationary shock lasts, the more difficult it will be to deal with.

Bank of England Governor Bailey: So far, the effects of the second round of inflation in the UK have remained relatively mild.

According to the Financial Times, Bank of America (BAC.N) has been fined $1.2 billion for deficiencies in its anti-money laundering efforts.

The Dow Jones Industrial Average closed down 179.85 points, or 0.35%, at 51,670.70 on Tuesday, October 13; the S&P 500 closed down 1.66 points, or 0.02%, at 7,805.58 on Tuesday, October 13; and the Nasdaq Composite closed down 41.52 points, or 0.15%, at 27,204.38 on Tuesday, October 13.

Federal Reserve's Collins: Data center construction is putting pressure on inflation data.