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F.C.C. Chair Threatens to Revoke Broadcasters' Licenses Over War Coverage The New York TimesTrump administration threatens news outlets over critical coverage of Iran Al JazeeraFCC chair slams broadcasters after Trump disputes reports on Iran-damaged U.S. tankers CNBCFCC chair threatens to throttle news broadcasts over ‘ho
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China Resumes Military Flights Around Taiwan After Sudden 10-Day Hiatus WSJTaiwan says large-scale Chinese military flights return after unusual absence ReutersFor nearly two weeks, Chinese fighter jets stopped buzzing Taiwan. No one seems to know why. CNNWhat to know about the falloff in China's military flights around Taiwan AP News
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FCC chief threatens broadcasters as Trump criticizes coverage of Iran war The Washington PostF.C.C. Chair Threatens to Revoke Broadcasters' Licenses Over War Coverage The New York TimesTrump administration threatens news outlets over critical coverage of Iran Al JazeeraFCC chair slams broadcasters after Trump disputes reports
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Taiwan says large-scale Chinese military flights return after unusual absence ReutersChina Resumes Military Flights Around Taiwan After Sudden 10-Day Hiatus WSJWhat to know about the falloff in China's military flights around Taiwan AP NewsFor nearly two weeks, Chinese fighter jets stopped buzzing Taiwan. No one seems to know why. CNNChina's Military Has Qu
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Bahrain and Saudi Arabian F1 races officially cancelled amid Middle East conflict Motorsport.comF1 cancels Bahrain, Saudi Arabia races due to Iran war ESPNBahrain and Saudi Arabian GPs officially canceled due to Middle East conflict The New York TimesFive consequences of F1's double race cancellation The RaceBahrain and Saudi Arabia GPs to be cancelled amid Middle East war BBC
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U.S. Energy secretary directs Texas oil company to restore operations off California CBS NewsTrump administration invokes emergency powers to restart oil operations off California coast PoliticoTrump administration orders restart of California offshore oil operations The Hill
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Growing number of fertiliser plants forced to shut, threatening rice and other harvests
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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