Powell signals rates to stay higher for longer
Squawk Box Europe Express
English - May 15, 2024 06:36 - 23 minutes - 21.1 MB - ★★★★ - 40 ratingsBusiness News News Business Investing stock market news market news karen tso europe business news squawk box podcast arabile gumede europe cnbc cnbc london european business news europe squawk box Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
U.S. producer prices come in hotter than expected ahead of today’s CPI data. Federal Reserve Chairman Jerome Powell says that rates will have to remain elevated for longer. Magnificent 7 stocks help push the Nasdaq to a new record high. Alphabet CEO Sundar Pichai tells CNBC colleagues Stateside that A.I. still has a lot of momentum for the company. U.S. President Joe Biden slaps China with $18bn of new tariffs, targeting EVs, solar cells and steel. We hear exclusively from the U.S. ambassador to the European Union, Mark Gitenstein, who says Biden is sending a clear message to Beijing. And Swiss eyecare group Alcon posts a record profit for the first quarter with CEO David Endicott telling CNBC the company maintains a robust pipeline.
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