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“ Shark Tank ” investor Kevin O’Leary predicts the ongoing cycle of U.S. Federal Reserve rate hikes could lead to more regional U.S. bank failures.
Fed Chair Jerome Powell said the central bank is not yet fully confident that inflation is defeated even though recent headline reads show that price increases have cooled significantly.The consumer price index rose 3% from a year ago in June — the lowest level since March 2021. But Powell said the Fed would need to “hold policy at a restrictive level for some time” and be prepared to raise rates further, given that core […]
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