Unbiased AI-powered news
Kevin Warsh conducted his first press conference as Federal Reserve chairman on June 17. Alan Greenspan, a former chairman, died at age 100 five days later. Warsh stated the central bank will focus on price stability.
Washington ExaminerFederal Reserve Chairman Kevin Warsh held his first press conference on June 17 and announced five new task forces to address operations at the central bank. " Warsh declined to provide his own economic projections during the press conference.
Greenspan, who served as Federal Reserve chairman for nearly 19 years until 2006, died at age 100 on June 22. Warsh joined the Board of Governors shortly after Greenspan's retirement.
Warsh said the task forces will examine the balance sheet, communications practices, inflation frameworks, data sources, and productivity and employment measures. He rejected the view that lower unemployment requires higher inflation and stated that inflation is a monetary phenomenon. The communications task force will review the use of forward guidance and dot plots in policy statements.
Single source — no framing comparison available.
en.globes.co.ilLebanon and Israel signed a U.S.-brokered framework agreement on June 26 that outlines steps for Israeli forces to leave southern Lebanon in stages. The deal gives the Lebanese army control of pilot zones where it must disarm Hezbollah before reconstruction begins.
The equal-weighted S&P 500 outperformed its capitalization-weighted counterpart this week by the largest margin in six years. The move coincided with investor rotation away from leading technology stocks.
ndtv.comSouth Korea deployed fighter jets after nearly 10 Chinese and Russian military aircraft entered its air defense identification zone on June 27 before departing after a brief stay. The planes flew over the East Sea and South Sea but remained outside sovereign airspace. South Korea…