FT News Briefing Fed skips an interest rate increase
Jun 15, 2023
The US Federal Reserve has hit the pause button on its interest rate hikes after a streak of ten increases, hinting at changing economic policies. Meanwhile, Boris Johnson faces backlash with multiple parliamentary contempt findings. In Ukraine, Gazprom is reportedly supporting militias amid the ongoing conflict, raising questions about corporate loyalty to the Kremlin. Interestingly, even Beyoncé is in the mix, being blamed for soaring Swedish inflation, all while performing in Stockholm. This mix of economic and political drama makes for compelling listening!
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Fed Pauses Rate Hikes
- The Federal Reserve paused interest rate increases after 10 consecutive hikes.
- Further increases are possible later this year, likely as two quarter-point increases.
Johnson's Contempt of Parliament
- A report suggests former UK Prime Minister Boris Johnson committed multiple contempts of Parliament.
- Johnson misled lawmakers about parties held at Downing Street during lockdowns, according to the report.
Gazprom's Corporate Militia
- Gazprom, Russia's energy giant, is recruiting and equipping employees to fight in Ukraine.
- One Gazprom security guard, Erast Yakovienko, signed up at work, fought in Ukraine, and was killed in action.