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Fed Says Big Banks Can Weather a Recession
As inflation remains stubbornly high and warning indications of a looming slump mount, the annual exams have added significance.
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U.S. Retaliates Against China's Forced Labor Manufactures
To counter China's mistreatment of the Uyghur minority, President Joe Biden signed a law that effectively bans imports from the Chinese province of Xinjiang.
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The Daily Briefing For June 23rd: Stocks Rebounding From Overnight Session
Overnight Summary: The S&P 500 closed Wednesday at 3759.89 (lower by -0.13%) and Tuesday at 3764.79 (higher by 2.45%). Futures are trading higher now after a volatile overnight session. The overnight high of 3793.5 was hit at 7:00 a.m. EDT. The low was hit at 3735 at 3:40 a.m. EDT, a range of 58 points high to low which is a bit above the range of late with 45 the average range. At 7:20 a.m. EDT the current price is 3787.75 which is 0.66% and +25 points. Current price is at 0.82%.
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Powell ‘We Understand the Hardship and We Are Strongly Committed'
Chairman of the Federal Reserve Jerome Powell has stated that while a U.S. recession is possible, it is not the Fed’s desired outcome during his semiannual hearing before the Senate Banking Committee
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