The Federal Reserve on Wednesday enacted its second consecutive 0.75 percentage point interest rate increase as it seeks to tamp down runaway inflation without creating a recession. In taking the benchmark overnight borrowing rate up to a range of 2.25%-2.5%, the moves in June and July represent the most stringent consecutive action since the Fed began using the overnight funds rate as the principal tool of monetary policy in the early 1990s. While the fed funds rate most directly impacts what banks charge each other for short-term loans, it feeds into a multitude of consumer products such as adjustable mortgages, auto loans and credit cards. The increase takes the funds rate to its highest level since December 2018. Facebook parent Meta lost $2.81 billion on $452 million in revenue from its virtual reality division, Reality Labs, during the quarter ending in June as it forecast a second consecutive quarter of declining revenue on Wednesday. The substantial sum is the latest sign that CEO Mark Zuckerberg and Meta continues to spend heavily to pivot the social media giant to developing virtual reality and augmented reality products and the so-called “metaverse.” It’s a substantial but affordable expense to a company that earned $8.36 billion in operating income on $28.82 billion in total sales during the quarter.
📚Books: https://www.amazon.com/s?k=reginald+seay&crid=XNP2FB40Q3TH&sprefix=reginald+seay%2Caps%2C232&ref=nb_sb_noss
📚 Course: https://market-marauders-complete-guides.teachable.com/p/the-complete-guide-to-cryptocurrency
📚Website: www.marketmarauders.net
🦩Twitter: @yourequest
😎Instagram: market_marauders
📧Email: reg24k@gmail.com
🚧 DISCLAIMER🚧
I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read and/or view and/or hear on the channel.
