Fed's Williams says interest rates need to stay high 'for some time' to ensure inflation is tamed

New York Federal Reserve President John Williams said U.S. interest rates will likely need to stay high "for some time" until senior central bank officials are confident the rate of inflation is returning to 2%. 


 
SEC Approves Bitcoin ETFs for Everyday Investors

The exchange-traded funds will allow investors to buy bitcoin as easily as stocks or mutual funds. 


 
S&P 500 Inches Closer to Record High

Meta Platforms, parent of Facebook and Instagram, helped lead technology shares higher as the S&P index turned positive for 2024. 


 
SEC Hack Adds to Unease Over Bitcoin ETF Approval

The hack of the regulator's X account likely complicates an expected vote Wednesday on whether to greenlight exchange-traded funds holding bitcoin. 


 
Mortgage refinance demand surges by nearly 20% after holiday period

Mortgage applications rose 9.9% in the last two weeks, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.81%. 


 
Importers Face Surging Shipping Costs, Delays as Red Sea Diversions Pile Up

Western importers are reporting a steep rise in ocean-shipping rates and weekslong delays as carriers divert ships from the Red Sea to avoid Houthi rebel attacks. 


 
This Inflation Measure Is Running Hot. It's Probably Wrong.

The median consumer-price index suggests inflation's underlying trend is stronger than what other measures show. 


 
U.S. Crude Oil, Products Stocks Rose in First Week of January

Oil inventories rose by 1.3 million barrels to 432.4 million barrels in the week ended Jan. 5, compared with analysts projections of a 600,00-barrel decline. 


 
The Fed Launched a Bank Rescue Program Last Year. Now, Banks Are Gaming It.

Borrowing at the bank term funding program is up to record highs, but not because of new stresses. 


 
Pro Take: Cash in Circulation Has Surged by Over $500 Billion Since the Pandemic

Social isolation didn't quash the demand for cold hard cash often seen during times of turmoil.


(END) Dow Jones Newswires

01-10-24 1715ET