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News alert: Kevin Warsh's promise
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Fed chair vows to defeat inflation in congressional debut
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<a data-linktext="Fed Chair Kevin Warsh promises to defeat 5 years of stubborn inflation" data-linktype="Normal" style="color:#168DD9" target="_blank">
Fed Chair Kevin Warsh promises to defeat 5 years of stubborn inflation
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Warsh tells lawmakers in his first congressional appearance as Fed chair that the central bank will not accept persistently elevated inflation, framing a return to price stability as a non-negotiable
goal.
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SK Hynix stock plunges in Seoul after its Nasdaq debut.
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Shares in the memory chipmaker fell 15.4% as investors booked profits following last week's U.S. listing, which raised more than $26 billion.
Investors were also disappointed by weaker-than-expected shipments of its HBM4 memory chips.
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TSMC had its best sales month ever after a 68% revenue surge.
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Strong demand for advanced chips used in AI hardware pushed second-quarter revenue past the company's guidance. Taiwan Semiconductor Manufacturing Co. controls three-quarters of the global contract chipmaking market.
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Meta drops more than $23 billion to expand an AI data center.
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</strong>
The social media giant is
growing its Louisiana facility to five times its original planned capacity, pushing the total cost above $50 billion. Louisiana Governor Jeff Landry backed the project with a two-decade tax exemption.
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