Connect with us

Economy

The Fed raises interest rates by 75 basis points. It will only get weaker from 2024 – Monetary Policy

Published

on

The Fed raises interest rates by 75 basis points.  It will only get weaker from 2024 - Monetary Policy

The US Federal Reserve (Fed) this Wednesday decided to raise the federal funds rate by 75 basis points for the third time in a row. With such an increase, the key interest rate moves into the range from 3% to 3.25%, which has not been seen since 2008.

In a statement, the Federal Open Market Committee (FOMC) also confirmed that “it is aware of the risks associated with inflation” and that “it is firmly committed to returning inflation to its 2% target.

“The Committee will be ready to adjust monetary policy if risks arise that could prevent the achievement of goals,” the FOMC assured. The decision was taken unanimously. The central bank also gave signals of what the next increases might be, forecasts dubbed the “scatter plot”.

The Monetary Authority, led by Jerome Powell, predicts that the federal funds rate will rise to 4.4% by the end of the year and reach 4.6% in 2023. According to these forecasts, the federal funds rate should only decrease from 2024, when it drops to 3.9%. In 2025, it should decrease to 2.9%.

Faced with the Fed’s decision and its dot chart, Wall Street is trading in the red, with the Dow Jones Industrial Average falling 0.20% to 30,645.71 and the S&P 500 down 0.78% to 3,826.04. Technological Nasdaq Composite is trading near the waterline, leaning more towards the negative background (-0.04%) to 11,420.68 points.

In the debt market, interest rates on 10-year US bonds fell 4.4 basis points to 3.553% after hitting 11-year highs on Tuesday. The trend of relief is followed by yields related to longer maturities, namely 20 years (3.781%) and 30 years (3.530%).

See also  Uber and Lyft get ready to shut down in California around new law

On the lines with shorter periods, there is a deterioration in movement. The yield on two-year debt is 8 basis points to 4.406%, this trend is followed by three-year debt (4.011%), five-year debt (3.779%) and seven-year debt (3.696%).

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Elon Musk showed a prototype humanoid robot Tesla Optimus

Published

on

Tesla robô Optimus Elon Musk protótipo

Creating a robot has been in the plans of Elon Musk for many years and with several plans for its use. Optimus is the most visible face of the company in terms of creating offerings that will be used in its factories as well as in everyday contexts.

A few hours ago, at the Tesla AI Day 2022 event, a company leader spoke about Tesla’s progress in this area. A new robot has been introduced, which shows that we have real proposals that work and help people at any given time.


Elon Musk reveals his next robot

Over the past few years, Tesla has bet on Optimus your interpretation than a robot designed to help in everyday life. Everyone knew it was just an image of what it could be, not yet fully functional. Elon Musk admitted this on the stage of AI Day 2022.

What was shown just a few hours ago puts this robot on a new level. On the stage of this event, the first functional prototype was shown, which paves the way for what is being prepared. Autonomy is already visible, but it was also clear that there was a lot of work to be done.

Working prototype of Optimus

With a price tag that should be under $20,000, the new Optimus was on stage to show what it can already do. He moved by himself, which was the first time he did, and even danced to show his mobility. In terms of dates, this one was created in the last 6 months and Tesla predicts it will be ready in the next few months.

Equipped with a 2.3kWh battery, this prototype is powered by a Tesla SoC and offers both Wi-Fi and LTE connectivity. In terms of software, Elon Musk's company has redesigned its autopilot, redesigning it to work in a new body and environment. Here, too, real models were used to train the system.

Elon Musk's Tesla Optimus robot prototype

Tesla's great attention to detail

This presentation was about the joints of this Tesla robot. The company has created "human-level arms" with 11 degrees of freedom based on six special actuators, as well as "complex mechanisms that allow the arm to adapt to gripping objects."

While it's still far from being a usable and independent offering, it's clear that Tesla has already changed a lot about its robot. Soon there will be many more news that are placing these new elements in the factories of the brand and, who knows, in our homes to help in everyday life.

See also  Uber and Lyft get ready to shut down in California around new law
Continue Reading

Economy

Electricity and gas prices for families to rise this Saturday

Published

on

Electricity and gas prices for families to rise this Saturday

Increases in the price of natural gas and electricity for residential consumers in regulated and liberalized markets will come into effect this Saturday, which in some cases will increase the monthly bill by almost 40 euros.

Continue Reading

Economy

Portugal Listed Company Not Reporting: “Auditors with Restricted Access to Objects” – Mercados

Published

on

Portugal Listed Company Not Reporting: "Auditors with Restricted Access to Objects" - Mercados

Three months before the end of fiscal year 2022, Reditus continues to not approve or release last year’s financials.

“Reditus – Sociedade Gestora de Participações Sociais, SA, hereby informs that the previously published restrictions remain, and for these reasons, until September 30, 2022, it could not approve and publish individual and aggregate results relating to 2021,” the statement reads. company submitted to the Securities Market Commission (CMVM) this Saturday, October 1.

“Because the auditors had limited access to the premises and verification procedures, they alerted Reditus management that closing the financial statements is particularly time-consuming and therefore the auditors must complete the audit,” he said. approves the technological led by Francisco Santa Ramos.

“And in fact, despite the efforts of Reditus, as well as its auditors, the surrounding context of the pandemic has thus caused significant disruption in the process of completing financial statements and disclosing them,” explains the company, whose main shareholder Miguel Pais do Amaral (24.74 %), followed by the Moreira Rato family (10.2%), according to information on its website.

“For these reasons, Reditus SGPS, SA. reports that it cannot meet the deadline for the publication of its individual and consolidated accounting documents, estimating – depending on the elements currently available – that this publication will be carried out in the month of October. 2022,” concludes the company, which ended 2020 with a loss of 1.06 million euros, comparable to a positive result of 49 thousand euros in the previous year.

See also  Official: euro reaches parity against dollar - Markets
Continue Reading

Trending