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Prepared Remarks reviewed by FOX Business:
"But with today's strong economy and inflation that is well above our 2 percent longer-run goal, it is time to start the process of steadily moving the target range back to more normal levels. In particular, I expect it will be appropriate to raise the target range at our upcoming meeting in March.Once the interest rate increases are underway, the next step will be to start the process of steadily and predictably reducing our holdings of Treasury and mortgage-based securities, which had grown significantly as a result of the purchases that began in March 2020. Last month, the FOMC released a set of principles that will guide that process.3 Assuming the economy develops roughly as I expect, I foresee this process getting started later this year." said Williams.
Roku's stock is on pace for its worst percentage drop in history.
Afternoon selling accelerating for U.S. stocks
Bitcoin is getting battered along with stocks as investor rotate out of riskier assets
Investors continue to take a cautious view of U.S. stocks as Russia, Ukraine tensions mount.
U.S. equity futures were little changed on Friday as investors kept a close eye on escalating worries over the possibility Russia may invade Ukraine.
Oil fell to the $90 per barrel level.
Deere & Co raised its annual profit forecast on Friday, as the world's largest farm equipment maker expects a boost to margins from price hikes and solid demand for its tractors and combines.
Record grain prices have put more cash in farmers' pockets and spurred them to increase investments in agricultural machinery amid a tight labor market. The U.S. Department of Agriculture estimated net farm income to have risen 25% to $23.9 billion in 2021.
Deere raised prices to combat rising shipping and supply chain costs, but that has not deterred demand, with the company's North American order books full for most of its large farm equipment in 2022.
Roku Inc. reported quarterly revenue on Thursday that missed estimates, as the company was hit by supply chain issues that affected sales of television sets and its own streaming devices.
Roku said it expects current-quarter revenue of $720 million, compared with analysts' estimates of $748.5 million, according to IBES data from Refinitiv.
The company said acquiring customers will remain a priority and it will not pass on higher costs to customers. Roku's gross margins fell about 3% in the reported quarter.
U.S. equity futures traded higher on Friday, trimming losses from Thursday's plunge on escalating worries over the possibility Russia may invade Ukraine.
The major futures indexes suggest a gain of 0.5% when the opening bell rings. Continue reading
Bitcoin was attempting to pare the previous day's losses, trading Friday morning above $40,000.
Bitcoin took a hit of more than 7% on Thursday as markets reacted to concerns over a possible Russia invasion of Ukraine spiked. It was the largest percentage decrease since Jan. 21, when it fell more than 11%. Continue reading
Nervous investors, spooked by a Russian-Ukraine conflict, barreled into gold on Thursday, driving the price to a level not seen since June of 2021: $1,900.70 and upward momentum may continue, aiding the SPDR Gold ETF. Continue Reading
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