While You Were Sleeping: 5 stories you might have missed, Dec 15
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Chairman of the Federal Reserve Jerome Powell speaks at a news conference in Washington, on Dec 14, 2022.
PHOTO: EPA-EFE
US Fed lifts rates by half-point, signals more hikes
The Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as a rise in unemployment and a near stalling of economic growth.
The US central bank’s projection of the target federal funds rate rising to 5.1 per cent in 2023 is slightly higher than investors expected heading into this week’s two-day policy meeting and appeared biased if anything to move higher.
Only two of 19 Fed officials saw the benchmark overnight interest rate staying below 5 per cent next year, a signal they still feel the need to lean into their battle against inflation that has been running at 40-year highs.
The new statement, approved unanimously, was released after a meeting at which officials scaled back from the three-quarters-of-a-percentage-point rate increases delivered at the last four gatherings.
WHO chief says his uncle was murdered in Ethiopia’s Tigray
The head of the World Health Organisation said on Wednesday that Eritrean troops “murdered” his uncle in the Tigray region of Ethiopia.
WHO director-general Tedros Adhanom Ghebreyesus, a former Ethiopian minister who comes from Tigray, has previously been a vocal critic of Ethopia’s role in the conflict that has killed tens of thousands and displaced millions.
In the closing minutes of a Geneva press briefing focused on Covid-19, Tedros said that he nearly cancelled the event because he was “not in good shape” after hearing of his uncle’s “murder”.
Developing countries stage walk out at UN biodiversity talks
Delegates from developing countries at high-stakes UN talks on biodiversity staged a late-night walkout after talks broke down with wealthy nations over the contentious issue of funding, officials and non-profit groups said on Wednesday.
The deterioration in dialogue comes on the eve of the high-level phase of negotiations involving the environment ministers of the 196 members at the summit, called COP15.
At stake is the health of the Earth’s ecosystems and the million plant and animal species threatened with extinction as a result of habitat destruction, pollution and the climate crisis.
Twitter suspends account that tracked Musk’s private jet
A Twitter account tracking the movements of Mr Elon Musk’s private jet has been suspended from the social media platform.
As of early Wednesday morning in New York, the @elonjet page showed a message that read “account suspended” with an explanation that Twitter suspends accounts that violate the platform’s rules. Musk bought Twitter for US$44 billion (S$59.3 billion) in late October.
Mr Musk and representatives for Twitter did not immediately respond to requests for comment.
France end Morocco’s dream to set up final with Argentina
On a night where emotion hung heavy, composed heads - as cool as the 18 deg C weather they played in - prevailed.
Defending champions France sealed their place in the World Cup final after a polished 2-0 victory over Morocco, this tournament’s surprise package, in their semi-final at the Al Bayt Stadium on Wednesday night. They will play Argentina for the Cup on Sunday.
The Moroccans, already history makers by becoming the first African team to reach the final four of the World Cup, rode on the passionate backing of their supporters to get this far and were dreaming even bigger.