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Federal Reserve Chairman Mossallem: I expect the Fed to maintain its commitment to its dual mandate under the new chairman.Federal Reserves Mussalem: I look forward to knowing what Warshs priorities will be.Federal Reserve Chairman Mossallem: Financial conditions are accommodative, with regulatory easing and fiscal tailwinds.On February 26th, Federal Reserve Chairman Schmid stated on Wednesday that excessive inflation remains a key issue the Fed needs to address, but he did not specify how monetary policy should respond. Schmid said, "I think we still have work to do on inflation," while adding, "I think the employment situation is quite good." He did not explain how these factors influence his assessment of the monetary policy outlook. Schmid had previously expressed skepticism about the Feds rate cuts last year, when officials lowered the target interest rate range to 3.5% to 3.75%. Markets expect further rate cuts this year, but officials have provided little guidance. Schmid also discussed the Feds balance sheet, saying internal discussions focused on understanding the appropriate level of reserves needed for the financial system. He pointed out that the large amount of mortgage-backed securities held by the Fed in its past bond-buying activities continues to depress home borrowing costs. Given the current size of the Feds mortgage-backed securities holdings, mortgage rates "may be 75 to 100 basis points lower than they would have been."The Iranian Foreign Ministry confirmed that the Iranian delegation and foreign minister have arrived in Geneva.

Twitter Shares Fall as Musk's $44 Billion Take-Private Deal Faces "Serious Danger"

Charlie Brooks

Jul 08, 2022 11:08


During Thursday's after-hours trade, it was reported that Twitter's $44 billion take-private plan with Elon Musk is in "serious danger" as a result of Musk's decision to pull back fundraising efforts owing to continuous worries over spam accounts.


After-hours trading for Twitter Inc (NYSE:TWTR) declined by more than 3 percent following the news.d


According to unnamed sources cited by the Washington Post, Musk and his team suspended fundraising efforts for the acquisition after concluding that Twitter's data on spam accounts are unverifiable.


Twitter has stated that it deletes over 1 million spam accounts everyday and believes that bot accounts account for less than 5% of its user base. In an attempt to allay Musk's concerns, the social media behemoth has recently disclosed a plethora of data, but Musk's team remains skeptical and believes "they do not have enough information to analyze Twitter's financial prospects," according to a report citing sources.



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