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WASHINGTON, D.C.- The US Federal Reserve has established a task force to examine how artificial intelligence could shape the economy and future monetary policy, with its findings expected by the end of the year, Fed Chair Kevin Warsh said. Warsh said the central bank was examining AI’s effects on both demand and supply, while decisions…

By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON (AP) — About six weeks ago, Federal Reserve Chairman Kevin Warsh announced that a divided central bank was keeping its key interest rate unchanged. But on Wednesday, the Fed’s rate-setting committee unanimously agreed to a rate hike, and nearly all policymakers signaled that a second increase later this…

An image of a Tesla humanoid robot in front of the company logo Around the World Photos via Shutterstock As the artificial intelligence theme took center stage, sector rotation has translated into weakness for some hot stocks in the prior rally. A good example is Tesla (TSLA) stock, which has corrected by 13% in the…

Growth stocks jumped as investors, surprised by Thursday’s weekly jobs report, found cause for optimism in a high interest rate environment as Treasury yields came off a 19-year high.  In afternoon action, Palantir (PLTR) edged higher as Chief Executive Alex Karp questioned recent cautionary comments from top artificial intelligence industry leaders. The Dow Jones Industrial…

The Federal Reserve raised the target range for the federal funds rate by 25 basis points to 3.75% to 4% on September 16, with Chairman Kevin Warsh saying resilient economic growth and a strong labor market give policymakers room to focus more aggressively on inflation. The Federal Open Market Committee approved the increase unanimously by…

As of 11:31 AM ET, the Nasdaq Composite (NASDAQINDEX:^IXIC) is up 1.54% to 26,379, the S&P 500 (SNPINDEX:^GSPC) has climbed 1.01% to 7,628, and the Dow Jones Industrial Average (DJINDICES:^DJI) has risen 0.55% to 51,745 as investors looked beyond yesterday’s post-Fed sell-off. Gold is trading at $4,364.66, up 2.37%, and the 10-year Treasury yield fell…

A mutual fund’s past return is easy to find. But for investors, the harder question is whether the Asset Management Company (AMC), fund manager, and fund itself have the characteristics to support consistent performance over different market cycles. A recent issue of DSP Mutual Fund’s Neev lays out a research framework by Rahul Kulkarni, Mutual…

TLDR Brent crude traded around $103 a barrel on September 17, with WTI near $100 Chevron reported $12.1 billion in Q2 earnings with worldwide production up 20% year over year Chevron hit record U.S. production and record crude throughput at American refineries Saudi Arabia is working to redirect supplies, but Middle East tensions keep the…

The Bank of England voted to hold its benchmark bank lending rate unchanged at 3.75%, holding steady for now as Governor Andrew Bailey warned that inflationary pressures may push the central bank to hike in coming months. Three members of the Monetary Policy Committee dissented, splitting the vote along identical lines to the Bank of…

It could be a brutal decade ahead for stocks, according to a valuation signal used by Bank of America. In a September 14 client note, the bank said that the S&P 500‘s normalized price-to-earnings ratio — which compares stock prices to average earnings over multiple years — currently sits at 32. That level implies that the…