The Federal Reserve had hoped for a string of strong jobs reports showing a pace of 1 million monthly job gains.Instead, the Fed received larger-than-expected readings on inflation.For a central bank that has reiterated its higher bar for pulling its monetary stimulus, recent data points could test the resolve of policymakers with regard to its quantitative easing program.Since the Fed’s last policy-setting meeting in May, several Fed officials voiced interest in taking the first step toward slo
Carmakers have been hit hard by a global chip shortage — here’s why
Demand for these chips has soared during the coronavirus pandemic as people snapped up games consoles, laptops and TVs to help get through lockdowns.Now, many of these products — including certain Chromebook laptops and next-generation consoles like the Xbox Series X and the PlayStation 5 — are sold out, or subject to lengthy shipping times.It’s just one of a number of factors that has driven demand for semiconductors, but as supply struggles to keep up, it’s the chip-reliant car industry that h