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CNBC’s Jim Cramer said that the Federal Reserve’s quarter-percent rate hike was not the reason the market tumbled on Wednesday, rather, it was the “tone-deaf” words of Treasury Secretary Janet Yellen. Cramer said the market “would’ve been fine” if it hadn’t been for Yellen saying that the government was not …

The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, D.C., U.S., on Wednesday, July 28, 2021. Al Drago | Bloomberg | Getty Images Ford Motor said Thursday its electric vehicle business lost $2.1 billion last year on an operating basis, a loss that was …

The company’s Terran 1 rocket lifts off from LC-16 at Cape Canaveral, Florida. Relativity Space Relativity Space, a 3D-printing specialist, launched the inaugural flight of its Terran 1 rocket late on Wednesday night, which successfully met some mission objectives before failing to reach orbit. Terran 1 lifted off from LC-16, …

Recent bank woes and rising interest rates have prompted higher levels of economic uncertainty. When it comes to the markets, that means more volatility may be in the forecast. Volatility happens when the value of an investment “fluctuates wildly in a short period of time,” according to the Financial Industry …

What the federal funds rate means to you “The bank problems are probably making a lot of people think twice,” said Diana Furchtgott-Roth, an economics professor at George Washington University and former chief economist at the Department of Labor. “People are not as confident,” she said, referring to the wealth effect, or …

In this photo illustration, the Coinbase logo is displayed on a smartphone screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images The Securities and Exchange Commission issued crypto exchange Coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. Coinbase shares fell …

A pedestrian walks past Biogen Inc. headquarters in Cambridge, Massachusetts, U.S., on Monday, June 7, 2021. Adam Glanzman | Bloomberg | Getty Images The Food and Drug Administration’s independent panel of advisors on Wednesday declined to endorse accelerated approval of Biogen’s investigational ALS drug for a rare and aggressive form …

U.S. Secretary of the Treasury testifies before the Senate Appropriations Subcommittee on Financial Services March 22, 2023 in Washington, DC. Win Mcnamee | Getty Images WASHINGTON — Federal bank regulators are prepared to do whatever is needed to “ensure that depositors’ savings remain safe” in U.S. banks, Treasury Secretary Janet …

WASHINGTON — The Federal Reserve on Wednesday enacted a quarter percentage point interest rate increase, expressing caution about the recent banking crisis and indicating that hikes are nearing an end. Along with its ninth hike since March 2022, the rate-setting Federal Open Market Committee noted that future increases are not …

Moderna CEO Stephane Bancel on Wednesday defended the company’s plans to hike the price of its Covid shots fivefold, deflecting pressure at a Senate hearing to abandon the increase while taking barbs over his compensation. Moderna plans to raise the list price of its vaccine 400% to $130 when the …