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Local 10 News @ 6AM

The latest local, regional and national news events of the morning are presented by the Local 10 News Team along with updated sports, weather and traffic.

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CHRISTINE LAGARDE


Lagarde, Putin, Biden and the Trouble With Drawing Red Lines

Part of being a leader is deterring adversaries from doing undesirable things. That comes with huge risks.

washingtonpost.com

The ECB’s Moves Make Sense, But Won’t Be Enough

Lagarde and her colleagues can’t do it all. The euro zone will be in serious trouble unless the EU’s leaders step up.

washingtonpost.com

Yellen downplays US recession as wave of economic data looms

Treasury Secretary Janet Yellen says the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession.

European Central Bank action faces stiff early test as the economy teeters on the brink of recession

The European Central Bank toughened its anti-inflationary stance with a 50 basis point hike to interest rates on Thursday and announced a new anti-fragmentation tool.

cnbc.com

ECB’s Crisis Plan Fails to Convince Bond Traders

Italian bond spreads remain elevated after euro-area policy makers detailed their Transmission Protection Instrument.

washingtonpost.com

European Central Bank takes big step to address rising inflation fears

The ECB’s first rate increase in 11 years came after officials signaled for weeks that they intended to raise rates by just one-quarter of a percentage point.

washingtonpost.com

Europe's central bank backs larger-than-expected rate hike

The European Central Bank has raised interest rates for the first time in 11 years by a larger-than-expected amount.

Italy political turmoil a headache for Europe's central bank

Italy's political turmoil is making life harder for the European Central Bank as it hikes interest rates and raising bad memories of the eurozone debt crisis a decade ago.

European Central Bank head targeted in hacking attempt

The European Central Bank says its president, Christine Lagarde, was targeted in a hacking attempt but no information was compromised.

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The ECB Risks Downgrading Its Bond Bazooka to Peashooter

German intransigence could mean a summer of discontent for European debt markets.

washingtonpost.com

The ECB Needs a Formidable Tool Against Fragmentation

German intransigence could mean a summer of discontent for European debt markets.

washingtonpost.com

Truly Humbled to Be the Author of This Article

How to flaunt your modesty online, in three easy steps

theatlantic.com

Inflation Hits Record 8.6% For 19 Countries Using The Euro

Inflation in the countries that use the currency has been setting monthly records since last year, making life more expensive for 343 million people.

www1.newsy.com

Inflation Hits Record 8.6% For 19 Countries Using The Euro

Inflation in the countries that use the currency has been setting monthly records since last year, making life more expensive for 343 million people.

newsy.com

Euro zone inflation hits record 8.6% as the European Central Bank prepares for its first rate hike in 11 years

France and Spain experienced new inflation records in June with the latter surpassing the 10% threshold for the first time since 1985.

cnbc.com

The ECB Needs Positive Interest Rates Sooner Rather Than Later

Policy makers in the euro area need to accelerate their efforts to curb inflation.

washingtonpost.com

Powell: 'No guarantee' Fed can tame inflation, spare jobs

Federal Reserve Chair Jerome Powell said there’s “no guarantee″ the central bank can tame runaway inflation without hurting the job market.

European Central Bank member Holzmann says there's ample room to hike to cool surging inflation

A member of the European Central Bank told CNBC Wednesday that there's plenty of runway to hike interest rates, following the two planned raises for July and September.

cnbc.com
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Europe's central bank ready to 'stamp out' surging inflation

The head of the European Central Bank says it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out” inflation if it surges faster than expected.

Lagarde plays down recession risks, says ECB is ready to 'move faster' on rates if needed

ECB Lagarde has played down fears of a recession in the euro zone.

cnbc.com

Asian shares mostly higher after wobbly day on Wall Street

Asian shares are mostly higher after a wobbly day on Wall Street as markets cooled off following a rare winning week.

World shares mostly higher after wobbly day on Wall Street

Global stocks are mostly higher after a wobbly day on Wall Street as markets cooled off following a rare winning week.

EU leaders tackle inflation, energy shocks from Russia's war

A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention to the severe economic turbulence from Russia’s war in the neighboring country.

Why the ECB Needs New Tools for Bond ‘Fragmentation’

The European Central Bank has sought to stave off the danger of a sovereign-debt storm with the promise of a new tool to curb market stress after Italian bond yields breached 4% on June 14, the highest since the market turmoil of 2014. Investors are viewing the renewed push to tackle so-called fragmentation as evidence policy makers will fight to prevent borrowing costs in the union from diverging excessively. That’s a dynamic that threatened to rip the euro-zone apart during the crisis a decade

washingtonpost.com

European Central Bank to create new tool to address fragmentation risk after bond yields surge

The European Central Bank announced Wednesday it plans to create a new tool to tackle the risk of fragmentation in the euro zone.

cnbc.com

European Central Bank vows backstop against market turmoil

The European Central Bank has vowed to come up with a new, unspecified market backstop that could be used to buffer some countries against bond market turmoil similar to what shook the 19-country eurozone during a debt crisis more than a decade ago.

European Central Bank announces emergency meeting to discuss market rout

The ECB announced an unscheduled monetary policy meeting for Wednesday, at a time when bond yields are surging for many governments across the euro zone.

cnbc.com
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ECB Delay Presages Bigger Rate Increases in Coming Months

With euro-area inflation surging, policy makers risk falling even further behind the curve.

washingtonpost.com

Watch Christine Lagarde speak after the ECB ends its bond-buying program

European Central Bank President Christine Lagarde is giving a press conference after the bank's latest monetary policy decision.

cnbc.com

Europe's central bank to hike rates in July, 1st in 11 years

The European Central Bank will raise interest rates next month for the first time in 11 years, followed by another hike in September.

Asian shares mixed after rate jitters tumble on Wall Street

Shares are mostly lower in Asia, with only Shanghai rising, after stocks tumbled on Wall Street on expectations central banks will focus on battling inflation with interest rate hikes.

European Central Bank poised to signal July rate hike as inflation jumps to fresh record high

The European Central Bank on Thursday is expected to confirm its intention to raise interest rates next month.

cnbc.com

Central Bankers Don’t Know How to Tackle Inflation

Have the world’s monetary policy makers just been lucky at keeping prices stable in recent years?

washingtonpost.com

Euro zone inflation hits yet another record high as food and energy prices soar

Inflation came in at 8.1% for the month, hitting a record high for the seventh month in a row.

cnbc.com

Should Central Bankers Be This Clear About Interest Rates?

Traditionally taciturn officials are deploying a startling degree of candor about the direction of monetary policy. They would do well to consider the pitfalls.

washingtonpost.com

ECB Abandons Strategic Ambiguity on Rate Increases

Christine Lagarde’s hawkish pivot suggests weakness disguised as strength.

washingtonpost.com
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European Central Bank chief signals possible July rate hike

The president of the European Central Bank has given the clearest sign yet that policymakers will aim to raise interest rates as soon as July to ease surging inflation.

ECB rate hikes in July and September are likely a done deal, France's Villeroy says

It is probably a done deal that the European Central Bank will increase interest rates in July, a Governing Council member told CNBC Monday.

cnbc.com

Transcript: Christine Lagarde on "Face the Nation," April 24, 2022

The following is a transcript of an interview with Christine Lagarde, president of the European Central Bank, that aired Sunday, April 24, 2022, on "Face the Nation."

cbsnews.com

Asian shares decline after Fed chief's comments on inflation

Asian shares have mostly retreated, tracking losses on Wall Street after Federal Reserve Chair Jerome Powell indicated increases in interest rates must be faster to fight inflation.

Powell reinforces expectations of sharp rate hike next month

The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed’s next policy meeting in May.

Watch Fed Chairman Jerome Powell speak live at IMF debate

Federal Reserve Chairman Jerome Powell speaks Thursday on a panel presented by the International Monetary Fund. CNBC's Sara Eisen will moderate the talk.

cnbc.com

European Central Bank gives no clear date for rate hikes

The head of the European Central Bank says the bank would raise interest rates “some time after” ending its pandemic stimulus efforts later this year.

How the ECB Should Begin to Normalize Monetary Policy

The central bank needs some new tools to navigate the unique challenges that are likely to confront the euro-zone economy.

washingtonpost.com

European Central Bank head says she's positive for COVID-19

European Central Bank President Christine Lagarde has tweeted that she tested positive for COVID-19 and has mild symptoms but will continue working at home.

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European Central Bank chief: No data suggests stagflation

The European Central Bank's president says no data currently suggests that Europe will fall into stagflation, which is a combination of high inflation, little or no economic growth and high unemployment.

Amid protests, Europe limited in curbing high energy prices

European governments are slashing fuel taxes and doling out tens of billions to help consumers, truckers, farmers and others cope with spiking energy prices made worse by Russia’s invasion of Ukraine.

ECB Stays the Course on Inflation as Hawks Prevail

The central bank is taking the risky step of curbing stimulus even as the outlook for growth dims.

washingtonpost.com

Watch Christine Lagarde speaking after the ECB's latest rate decision

European Central Bank President Christine Lagarde is giving a press conference after the bank's latest monetary policy decision.

cnbc.com

European Central Bank holds interest rates steady as Russia-Ukraine conflict fuels stagflation fears

The ECB's meeting in Frankfurt, Germany comes exactly two weeks after Russian President Vladimir Putin launched a full-scale invasion of Ukraine.

cnbc.com

Europe's central bank to speed up end to economic stimulus

The European Central Bank says it will make an early exit from its economic stimulus efforts as it combats record inflation.

Wartime Economy Freezes ECB’s Retreat from Quantitative Easing

Accelerating inflation combined with slowing growth should keep euro zone policy on hold for now.

washingtonpost.com

Will All These Rate Hikes Cause a Recession?

Policy makers are beginning to worry that raising the cost of borrowing too quickly could have dire consequences.

washingtonpost.com

Asian shares mostly higher after Wall Street tech rally

Asian shares are mostly higher as investors try to gauge U.S. inflation, tensions between Russia and Ukraine and the impact of the pandemic.

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Why Hiking Rates Now, and Quickly, Isn’t the Answer

Australia’s central bank governor is taking his time to assess inflation. He may be on to something.

washingtonpost.com

Australia May Be Better Off Hiking Rates Slowly

Philip Lowe is depicted as a lone central banker standing against the tide of higher borrowing costs. That’s an oversimplification.

washingtonpost.com

Bond Market Tantrum Should Give ECB Moment of Pause

Rising yields threaten to tighten monetary conditions before the euro-zone economy is able to cope with higher borrowing costs

washingtonpost.com

Asian stocks follow Wall St higher after rebound

Asian stocks are higher after Wall Street rebounded as investors waited for U.S. inflation data that might influence the pace of Federal Reserve interest rate hikes.

Watch Christine Lagarde speaking after the ECB's latest rate decision

European Central Bank President Christine Lagarde is giving a press conference after the bank's latest monetary policy decision.

cnbc.com

European Central Bank keeps interest rates unchanged despite record inflation

The European Central Bank has kept key interest rates unchanged despite record rises in inflation.

cnbc.com

Europe's central bank worried about inflation but holds off

The head of the European Central Bank says record inflation could linger for “longer than expected” and appeared to open the door at least a crack for an interest rate increase this year.

Euro zone inflation hits new record, piling pressure on the European Central Bank

Inflation in the euro zone surprised markets Wednesday, notching a new record high and piling yet more pressure on the European Central Bank to act.

cnbc.com

Inflation in 19 countries using the euro hits another record

Inflation fed by high oil and gas prices hit record levels in Europe for the third month in a row.

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ECB’s Lagarde Needs To Chose Her Words Carefully

It’s a delicate time and she needs to push back on rate-hike expectations while not dispelling them completely.

washingtonpost.com

Climate, COVID, China: Takeaways from online Davos event

Government and business leaders have urged global cooperation on climate change, the coronavirus pandemic and the economic recovery at the World Economic Forum’s virtual gathering this week.

Europe not experiencing anything like 'The Great Resignation,' ECB's Lagarde says

Inflation in the euro area is unlikely to surge to levels seen in the U.S., European Central Bank President Christine Lagarde said on Friday.

cnbc.com

Watch ECB's Lagarde and IMF chief Georgieva discuss the global economic outlook

CNBC's Geoff Cutmore explores the global economic outlook for 2022.

cnbc.com

Eurogroup seeks path between high inflation, slower growth

Eurogroup finance chiefs are engaged in a high-wire political balancing act prompted by conflicting economic forces: a weaker growth outlook and stronger inflation.

Europe's shared notes and coins turn 20 at New Year's

This New Year's the European Central Bank is celebrating the 20th anniversary of the euro's notes and coins.

UK raises interest rates as central banks focus on inflation

The United Kingdom’s central bank has become the first in a major advanced economy to raise interest rates since the coronavirus pandemic began.

European Central Bank to taper pandemic stimulus, but gently

The European Central Bank has decided not to abruptly pull back its pandemic support for the economy as the new omicron variant of COVID-19 stirs uncertainty about the continent’s recovery.

Central Banks Are Redrawing the Map Out of the Crisis Era

Flashing amber at the BOE for withdrawing stimulus, with a green light at the Fed and red at the ECB.

washingtonpost.com
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Covid, the ECB and trade: Why the euro is undergoing a 'fundamental realignment'

The euro has cratered over the past month as a resurgence of Covid-19, European Central Bank policy divergence and political uncertainty converge.

cnbc.com

Europe's central banker: Not adding to pinch with rate hike

The head of the European Central Bank is doubling down on the message that it's no time to raise interest rates.

Watch Christine Lagarde speaking after the ECB's latest rate decision

European Central Bank President Christine Lagarde is giving a press conference after the bank's latest monetary policy decision.

cnbc.com

European Central Bank holds policy steady despite soaring inflation

The European Central Bank decided Thursday to keep interest rates and its monetary policy stance unchanged despite ongoing inflationary pressures.

cnbc.com

European Central Bank keeps pandemic support going

The European Central Bank has decided to keep its pandemic stimulus efforts unchanged even as consumer prices spike and central banks in other parts of the world look to dial back support as their economies bounce back from the worst of the COVID-19 outbreak.

European Central Bank expected to hold steady as economy slows and inflation soars

Slowing growth and higher inflation could render October's ECB meeting more eventful than originally anticipated.

cnbc.com

German central bank chief to step down after 10 years

The head of Germany’s central bank has announced that he will step down after a decade at the helm.

China’s Slowdown Pricks the Inflation Narrative

Anyone worried about surging price increases should consider the latest numbers from Beijing.

washingtonpost.com

IMF head pledges renewed efforts to protect data integrity

The embattled head of the International Monetary Fund is pledging renewed efforts to bolster data integrity while focusing on the main job of helping countries recover from a devastating global pandemic.

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IMF chief facing data-rigging allegations defends actions

The head of the International Monetary Fund says a report alleging she had a role in data-rigging at the World Bank when she was a top official there was not an accurate representation of events.

Energy prices drive Europe inflation to highest since 2008

The European Union’s statistics agency says sharply higher oil and gas prices have helped push annual inflation in the 19 countries that use the euro to its highest in more than a decade.

Euro zone inflation hits highest level in 13 years as energy prices soar

Higher inflation data comes as lawmakers fret about soaring energy prices.

cnbc.com

European Central Bank won't overreact to fleeting inflation

European Central Bank head Christine Lagarde says Europe's monetary authority isn't about to “overreact” to temporary inflation by tightening policy.

'I was expecting something more quiet,’ Lagarde admits on her ECB top job

ECB President Christine Lagarde has told CNBC that she thought her tenure at the Frankfurt-based institution would have been a bit "more quiet."

cnbc.com

Tech slide pulls S&P 500 down for its 5th straight loss

Stocks ended an up-and-down day lower on Wall Street, giving the S&P 500 its fifth consecutive loss and its first weekly decline after two weeks of gains.

Europe's central bank eases support, but it's not a taper

The European Central Bank says it is dialing back some of its massive emergency pandemic support for the economy.

ECB says low rates to stay until the job is done

Facing unease over the spread of a more-contagious variant of the coronavirus, the European Central Bank said it would maintain its stimulus in the form of ultra-low interest rates until inflation “durably” reaches its 2% target.

Asian stocks advance after Wall Street hits new record

Asian stock markets have risen after Wall Street hit a high despite jitters about the spread of the coronavirus’s delta variant, as investors looked ahead to U.S. earnings reports.

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Asian stocks follow Wall St higher ahead of earnings reports

Asian stocks have followed Wall Street higher ahead.

G20 ministers take up plan to deter cross-border tax dodging

U.S. President Joe Biden's proposal for a global minimum corporate tax will get another going over at a meeting of top finance officials.

Europe leaves stimulus running hot ahead of recovery

The European Central Bank is leaving its key pandemic support for the economy running full blast even as the economy shows signs of recovery thanks to lower virus cases and fewer restrictions on activity in the 19 countries that use the euro currency.

Europe's stimulus likely to keep running as economies reopen

The European Central Bank is likely to say it's too early to withdraw its stimulus at its meeting on Thursday.

ECB leaves interest rates, pandemic stimulus unchanged

The European Central Bank is leaving its key stimulus programs unchanged with almost 900 billion euros of support still in the pipeline as the economy lags the U.S. and China in a drawn-out struggle with the COVID-19 pandemic.

New challenge for the Powell Fed: A strengthening economy

The rise in the 10-year yield in recent weeks “caught my attention," Powell acknowledged earlier this month. AdIn anticipation of faster growth and inflation, investors have priced in at least three Fed rate hikes by 2023 — a much earlier lift-off than the Fed itself has forecast. Seeking to reassure investors, Fed officials have said they regard the rise in the 10-year yield as a positive sign, evidence that the financial markets expect the economy to steadily strengthen. As a consequence, Fed officials will likely boost their projections for economic growth for this year and for 2022, lower their estimates for unemployment and raise their expectations for inflation. Fed officials may project economic growth this year of as much as 5%, economists say, up from their December estimate of 4.2%.

Lagging US, Europe speeds up help for virus-hit economy

The rise in longer-term borrowing rates is regarded as a spillover from the U.S., where the economic recovery is expected to be faster. By contrast, the eurozone economy is not expected to recover until mid-2022, held back by a slow vaccine rollout and lower levels of government relief spending compared with the U.S. ECB President Christine Lagarde told a news conference that the rise in market borrowing rates, “if left unchecked, could translate into a premature tightening of financial conditions for all sectors of the economy. AdThe bond purchases have the effect of pushing down bond yields, which are used as benchmarks for borrowing across the region. Lagarde didn't specify an amount for the accelerated bond purchases.

European Central Bank stimulus on track as economy struggles

FRANKFURT – With more than a trillion euros in stimulus still in the pipeline to the economy, the European Central Bank left its key bond-purchase program unchanged Thursday as the 19-country eurozone endures a winter economic slowdown due to the pandemic. ECB President Christine Lagarde told a news conference that the economy likely contracted in the last three months of 2020 and the outlook going forward faces risks. The economy is being propped up by massive support from the ECB, national governments, and the EU. The European Union’s executive commission forecasts that the eurozone economy shrank 7.8% last year. Those are zero for short term loans from the ECB to banks, and minus 0.5% on deposits left overnight at the ECB by banks.

Europe gets new blast of stimulus to counter virus surge

The 25-member governing council decided Thursday to increase its bond purchase stimulus by 500 billion euros, to 1.85 trillion euros ($2.2 trillion). The bond purchases help keep credit affordable and available across the economy for consumers, businesses and governments. That is critically important to help businesses survive until the pandemic eases, and to support governments that are borrowing heavily to pay for aid to businesses and workers. Governments have also marshalled support at the EU level by agreeing to borrow together to create a 750 billion-euro recovery fund. The deposit rate on money banks leave overnight at the ECB is minus 0.5% rate, a penalty that pushes them to lend the money instead.

As infections rise, European Central Bank prepares stimulus

The bank could add a half-trillion euros or more to its existing bond purchases. That means the central bank will vacuum up much of the new debt being issued by hard-pressed governments, lowering the risk of a new eurozone debt crisis. She subsequently pointed to the current, 1.35 trillion ($1.58 trillion) pandemic emergency bond purchase program as a likely place for action. Yet its borrowing costs remain low and markets are calm despite the pandemic, and analysts say ECB support plays a crucial role in that. Without ECB support, a debt crisis could loom.

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