WRAPUP 3-Firmer underlying inflation keeps Fed on rate hike path WASHINGTON, May 22- Rising shelter and medical care costs boosted underlying U.S. inflation pressures in April, a welcome sign for the Federal Reserve as it contemplates raising interest rates this year. "It will give the Fed greater confidence that inflation will indeed make it to its target in the next couple of years, it increases the odds of faster Fed action,"...
| By: Lucia Mutikani
Stock strategy after Yellen comments Fed Chair Janet Yellen remarked on economic conditions going into the second half of the year. Hugh Johnson of Hugh Johnson Advisors, and Darin Richards, AKT Wealth, react to her remarks.
WRAPUP 2-Rising underlying inflation keeps Fed on rate hike path WASHINGTON, May 22- Rising shelter and medical care costs boosted underlying U.S. inflation pressures in April, a welcome sign for the Federal Reserve as it contemplates raising interest rates this year. The Labor Department said on Friday its Consumer Price Index, excluding food and energy, increased 0.3 percent last month. "It will give the Fed greater...
| By: Lucia Mutikani
INVESTMENT FOCUS-Memo to traders (in case you forgot): Don't fight the ECB LONDON, May 22- "Don't Fight the Fed" has long been a central tenet of financial markets and one of the most profitable trading strategies around. A speech in London on Monday from European Central Bank Executive Board member Benoit Coeure about tweaks to the bank's bond-buying program, or quantitative easing caught the market on the hop and triggered one of the...
| By: Jamie McGeever
Wealthy Russians face ultimate test of loyalties As relations with Europe and the US continue to fray, data and anecdotal evidence suggest that more people are leaving Russia than before. But even as they go, a new wave of patriotism is steeling the resolve of others who are choosing to ride out the economic crisis at home. The Financial Times reports.
Source: Financial Times
| By: Courtney Weaver
UPDATE 1-Goldman Sachs asks shareholders to 'like' tech push in San Francisco SAN FRANCISCO, May 21- In Goldman Sachs Group Inc's latest move to bolster its street cred as a cool, tech-savvy bank, the firm held its annual shareholder meeting in its San Francisco headquarters on Thursday. In just the past few weeks, Goldman has hired an executive to build a digital lending platform, co-led a $50 million investment in a bitcoin startup and...
| By: Olivia Oran