Top financial services news of the day

Fed’s Bullard leans toward a September hike of 0.75 percentage points

The president of the Fed of St. Louis, James Bullard said he is considering supporting another major rate hike at the central bank’s policy meeting next month, adding that he is not ready to say the economy has seen the worst increase in inflation.

Wall Street is betting the Fed is bluffing in a high-stakes inflation game

The market rally reflects the belief that inflation has peaked and rates will fall sometime next year, a prospect that Fed officials have tried to dismiss.

The Central Bank of Turkey cuts rates in a surprise decision

The central bank’s first cut in eight months resumes an unconventional policy demanded by President Recep Tayyip Erdogan that triggered a currency crisis last year.

Lloyd’s excludes catastrophic cyber-attacks supported by the nation from cover

Lloyd’s of London will require its global insurance groups to exclude state-backed catastrophic hackers from stand-alone cyber insurance policies from next year.

Bank stocks bounce back after sharp sell-off

Since the end of June, five of the six largest US banks have outperformed the S&P 500’s 13% gain.

The US extradited a Russian accused of money laundering linked to the Ryuk Ransomware gang

Denis Dubnikov, a 29-year-old Russian, was extradited from the Netherlands to the United States this week to face charges of laundering more than $400,000 in Ryuk profits.

Rising rates put pressure on Fintech lenders

Lenders like Upstart, Mosaic and Carvana are finding it harder to come up with money as the Fed’s rate hike campaign hits all corners of the economy.

Wait, when did everyone start using Apple Pay?

The iPhone took longer than expected to become a wallet. But Apple’s patience is slowly paying off.

Summary of financial services: Market talk

Find out about the outlook for UK banks, BOC Aviation and more in the latest market talks covering financial services.

Fed officials see the need to continue raising rates, but with less certainty about the destination

Central bank officials at last month’s meeting acknowledged the risks of both raising rates too little and too much.

(FI) Dow Jones Newswires

08-19-22 0015ET



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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!