Fed picks its side in inflation debate and sends market a message - no
rate hikes for years.
Fed Chairman Jerome Powell called the Fed's forward guidance on interest
rates "powerful," and the markets read it as dovish. The Fed forecast it
would keep interest rates at zero through 2023, and at the same time it
does not see inflation rising to its 2% target until 2023. Stocks
initially rallied on the guidance before giving up gains, and bond yields
rose as Powell did not promise any increase in Treasury purchases, as some
expected.
A low-profile investor who bet on Snowflake eight years ago is up more
than $12 billion after IPO pop.
Mike Speiser helped create Snowflake and served as CEO and CFO from 2012
to 2014. His firm, Sutter Hill, amassed a stake in the software company
that's now worth $12.6 billion. Speiser previously used a similar strategy
to incubate Pure Software.
How this millennial millionaire manages 15 credit cards and his No. 1
piece of advice for beginners.
His number-one piece of advice to young adults is to start building a
credit history as early as possible. It will come in handy when you want
to apply for loans or take out a mortgage in the future. "I didn't know
that there was a good side to credit cards until I started researching
more," Baldwin says. When you charge expenses onto your credit card, pay
them off in full by the due date. That way you avoid any interest charges
while also working to improve your credit score. Baldwin may have 15
credit cards in his name, but he keeps only one in his wallet and the rest
in a safe at home.
