According to minutes from their May 3-4 meeting, most agreed that half-point hikes also ‘would likely be appropriate’ when they next meet in June and July.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
Twitter shareholders meet amid Elon Musk’s takeover drama
Twitter’s regularly scheduled shareholder meeting Wednesday didn’t include a vote on the Tesla billionaire’s $44 billion bid for the social platform.
advertisement
Posted inBusiness, Nation & World
Stock market slump unsettling Americans eyeing retirement
Many soon-to-be retirees are also terrified about inflation. Social Security has a built-in adjustment, but it doesn’t keep up with real inflation.
Posted inBusiness, Local & State
State board to take up power line permit appeal in mid-July
The Maine Board of Environmental Protection rescheduled the meetings, originally set for this month, because of COVID-19 concerns.
Posted inBusiness, Nation & World
World Food Program chief challenges billionaires ‘to step up’
A new study projects that nearly 1.9 billion people could face food insecurity by November.
Posted inBusiness, Nation & World
Biden launches trade deal with 12 Indo-Pacific nations
The pact aims to help the economies work more closely on supply chains, digital trade, clean energy, worker protections and anti-corruption efforts.
Posted inBusiness
Wall Street ends higher after 7 straight weeks of losses
The benchmark S&P 500 is coming off its longest weekly losing streak since the dot-com bubble was deflating in 2001.
Posted inBusiness, New England
Company fined $27,000 after Vermont zip line death
The Stowe Mountain Resort employee was traveling over 80 mph when he hit the platform.
Posted inBusiness
Starbucks leaving Russian market, shutting 130 stores
The company will continue to pay its nearly 2,000 employees for six months and help them transition to new jobs.
Posted inBusiness
Amazon will sublease warehouses as online shopping slows
The e-commerce giant doubled the size of its operations during the pandemic.