The Fed also said Thursday that it’s keeping close tabs on potential losses at banks stemming from commercial real estate and elevated interest rates - laying out the concerns in its semiannual report on supervision. Stocks are falling Friday in Asia and Europe after Federal Reserve Chair Jerome Powell’s warning that the central bank wouldn’t hesitate to raise interest rates if needed to slow inflation further. Plus, the UK narrowly avoids the risk of an imminent recession for now.
The fallout from Powell’s warning on rate hikes spreads to Asia and Europe, Biden faces growing challenges in swing states and Israel pauses to let civilians escape northern Gaza.
