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Fed officials concluded at their most-recent meeting they would need to hold interest rates at their current level for longer than they previously anticipated, minutes show.
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Interest rates may need to go higher if the Fed wants inflation at 2%
Easing too soon would likely reignite inflation and require the Fed to hike rates again.MarketWatch - Business - Federal Reserve -
Mester says Fed needs to see more low inflation readings before cutting interest rates
The president of the Cleveland Federal Reserve said the low inflation readings in May were great news, but the central bank needs to “see that continue a bit longer” before it can cut interest rates.MarketWatch - Business - Federal Reserve -
Titan submersible implosion investigation taking longer than planned: Coast Guard
The investigation into the ill-fated Titan submersible's dive to the location of the Titanic will now take longer than expected, according to the U.S. Coast Guard.ABC News - Top stories -
Investigation into Titan sub taking longer than expected, Coast Guard says
Tuesday marks one year since the Titan sub lost contact about one hour and 45 minutes into its voyage to the wreckage of the Titanic.CBS News - Top stories -
Why the Stock Market Has Risen Even With No Fed Rate Cuts
The S&P 500 has been buoyant mainly because of A.I. fever, while bonds are having another mediocre year. But as an investor, our columnist is staying the course.The New York Times - Top stories - Federal Reserve -
Bank of Japan set to reduce JGB purchases, stands pat on interest rate
The BOJ said it will collect views from market participants on the reduction of Japanese government bond buying and present a detailed plan in the next meeting.CNBC - Business - Japan -
Bronny James predicted to go 'quite a bit higher' than top 50 in 2024 NBA Draft by current head coach
James is reportedly a target of the Los Angeles Lakers at No. 55 overallCBS Sports - Sports - NBA -
Comex Gold, Silver Settle Higher
Gold settled up 1.4%, with silver also rising 1.4% on the day. Both metals posted weekly gains.The Wall Street Journal - World -
Servers for GameStop annual shareholder meeting crash due to overwhelming interest
The debacle comes amid a meme stock craze that surged when Keith Gill, aka Roaring Kitty, resumed posting on his social accounts after more than three years.CNBC - Business -
Goolsbee is thrilled by low inflation readings but says Fed needs more proof that prices are easing
A slowdown in inflation in May was a big step in the right direction, Chicago Federal Reserve Bank President Austan Goolsbee said Friday, but prices need to decelerate further to support a reduction in U.S. interest rates.MarketWatch - Business - Federal Reserve
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