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Fed head 'uncertain' about war impact

The impact of the conflict in Ukraine on the US economy is “highly uncertain,” and the US Federal Reserve would need to move with care to contain rising inflation and ensure the recovery continues, US Federal Reserve Chair Jerome Powell said on Wednesday.
With US prices rising at their fastest pace in four decades and oil soaring to nearly US$113 a barrel on Wednesday due to the war, and the sanctions imposed on Moscow by Washington and Brussels, Powell said that policymakers are ready to raise interest rates to tamp down inflation.
However, the central bank would “proceed carefully,” he said, adding

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Robinhood eyes more debt - Taipei Times

Robinhood eyes more debt
Reuters and Bloomberg
Robinhood Markets Inc, the US online broker that has emerged as a gateway for amateur traders challenging Wall Street hedge funds, has held talks with banks about raising US$1 billion in debt so it can continue to fulfill orders for heavily shorted stocks, people familiar with the matter said.
The capital raised would be separate from the US$3.4 billion in financing that Robinhood on Monday announced that it had secured from its investors since Friday last week.
It reflects the financial pressure that last week’s Reddit-fueled frenzy in shares such as GameStop Corp placed on the company, prompting it to restrict some trades.

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Elon Musk Backs AOC's Call For House Hearings On Robinhood Barring GameStop Trades

US Representative Alexandria Ocasio-Cortez said that House inquiries into freezes should not be limited to Robinhood and that the committee should

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Robinhood: The Trading App Co-founded By Indian-American Caught In GameStop Storm

Robinhood: The trading app co-founded by Indian-American caught in GameStop storm
Co-founded by Baiju Bhatt, Robinhood is facing calls for a probe from Elon Musk and others for halting trade in GameStop that set off howls of protest from small traders.
File image: Robinhood app's loco on a smartphone. (Image: AP Photo/Patrick Sison)
Robinhood, a stock-trading application, is in the thick of the GameShop controversy after it abruptly blocked clients from purchasing shares of some companies whose stock prices had spiked dramatically and shaken up Wall Street.
This came a day after GameStop’s share price increased 135 percent. Some day traders had gotten together on social news aggregation website Reddit and bought shares and options in large numbers. The online day traders hoped to challenge Wall Street’s dominance. The subsequent rally in the struggling video game retailer's stock and others hit hedge funds, which had heavily shorted these shares, hard.

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