Fed rate hikes show progress against inflation says Mester
Loretta Mester, president of the Federal Reserve Bank of Cleveland, tells AP that rising rates are starting to curb inflation but more hikes are needed to decisively tackle the four-decade high. She notes other officials share cautious optimism amid milder inflation and wage readings. The hawkish policymaker emphasizes persistence in policy to reach the fed’s goals.
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Loretta Mester
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Mester
Federal Reserve Bank of Cleveland
Associated Press
Thunberg and activists confront Davos climate drive at WEF
Greta Thunberg denounces fossil fuel funding and short term profits at Davos while Vanessa Nakate Helena Gualinga and Luisa Neubauer back a cease and desist letter signed by nearly 900 000 urging heads of fossil fuel companies to halt new oil and gas projects. Scientists urge no new fossil fuel projects to meet the 1.5 C goal. Faith Bird cites optimism and notes the Inflation Reduction Act climate incentives totaling about 375 billion dollars advancing US renewables.
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Faith Bird
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U.S
Microsoft to Cut 10,000 Jobs Amid Economic Slowdown
Microsoft announces 10,000 layoffs representing under 5 percent of staff as macroeconomic conditions and changing customer priorities drive job cuts. The action begins immediately with notifications to employees and includes portfolio and office-location consolidations. Other tech firms like Amazon Salesforce Meta and Twitter have followed with sizable reductions.
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Satya Nadella
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