Fed holds steady as rate rise expected later this year
The Fed kept rates unchanged amid confidence in the economy and a signal of a possible increase by year’s end. Officials noted stronger job growth and balanced near term risks but split on imminent action with three dissenters pushing for an immediate rate hike.
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Google Allo offers optional end to end encryption
Google began offering end to end encryption with its Allo app, allowing incognito chats that are fully protected between sender and recipient while other messages remain accessible to Google. Privacy supporters praise the move though law enforcement warns about criminals going dark.
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Pension funding gaps widen as yields stay low and stocks wobble
U S state and local pension funds face a 1.9 trillion shortfall with low bond yields and stock volatility eroding gains. Illinois Missouri and Hawaii cut return assumptions pressuring contributions while lawmakers and officials brace for higher costs. The Fed holds rates keeping funding at risk and rating firms urge prudent cash funding to avert deeper deficits.
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Dan Heckman
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Wall Street rallies after Fed keeps rates steady
U.S. stocks rose as the Federal Reserve left rates unchanged, lifting dividend and energy shares. The Dow advanced 163.74 points to 18,293.70 as bond yields fell and utilities and phone stocks gained amid oil price movement and mixed Fed signals.
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