nasdaq picked up 0.3% in the s and p 500 gained. 5000.6% of the upswing came after the federal reserve raised interest rates by a quarter percentage point this week. federal reserve bank of richmond president tom barkin explained why. inflation is high demand hadn t seemed to come down. and so the case for raising was pretty clear. the one thing that i hear loud and clear from everybody is that they hate inflation. they find inflation to be unfair. israel s attorney general accused prime minister benjamin netanyahu of acting illegally after he announced that he would be directly involved in his government s moves to change the judicial system while the prime minister was in london, his rneyeneral published an open letter accusing him of breaking the law, she said quote last night you publicly announced that you intend to violate the ruling of the supreme court and act. contrary to the opinion of the legal advisor to the government. that
Federal Reserve Bank of Richmond President Thomas Barkin said the U.S. central bank will "persist" in its efforts to bring high inflation under control.
St. Louis Fed Bank President James Bullard said he favors a strategy of "front-loading" big interest-rate hikes, and he wants to end the year at 3.75% to 4%, while his Richmond counterpart, Thomas Barkin, said the central bank was committed to lowering inflation and a recession could happen.