The FOMC meeting concluded with the Fed approving the first rate hike of 2022 at +0.25%. They also indicated support for six additional rate hikes throughout the duration of 2021. This month’s rate hike is the first increase to the federal funds rate since December 2018. Interest rates have stayed close to zero since the onset of the pandemic, but those rates will now see increases between 0.25-0.50%. The Fed hopes to reach a consensus rate of 1.9% at the end of 2022. In addition to raising interest rates, the Fed anticipates reducing its $9 trillion balance sheet. JPow indicated that trimming the Fed’s fat balance&nb
BEIJING, Sept 13 (Reuters) - China fired a fresh regulatory shot at its tech giants on Monday, telling them to end a long-standing practice of blocking each other's links on their sites or face consequences.The comments, made by the Ministry of Industry and Information Technology (MIIT) at a news briefing, mark the latest step in Beijing's broad regulatory crackdown that has ensnared sectors from technology to education and property and wiped billions of dollars off the market value of some of the country's largest companies.China's internet is dominated by a handful of technology giants which have historically blocked links and services by rivals on their platforms.Restricting normal access to internet links without proper reason "affects the user experience, damages the rights of users a