. Each week, join us to test your knowledge of the stories making the headlines. Our business reporters come up with the questions, and you can show us what you know.Interest rates were in the news again, with the U.S. Federal Reserve raising its key rate by a quarter point Wednesday. The decision moved the federal fund’s rate to a range of 5.25 per cent to 5.5 per cent – a 22-year high. The Fed’s chair, Jerome Powell, indicated future hikes were still on the table.
Elsewhere, Elon Musk rebranded Twitter, a handful of automakers said they’re working together on a new multibillion-dollar project, unsold electric vehicles are piling up, and McDonald’s saw a boost in their quarterly results thanks to some limited-edition offerings.1 At a press conference this week, U.S. Federal Reserve chairman Jerome Powell said decisions on future interest rate hikes will come down to balancing two risks. What did he say those risks were?b. “The risk of job losses and the risk of inflation”d. “The risk of angering economists or the risk of angering politicians”future decisions about rate hikes
would come down to new data and an assessment of risks. “We’re coming to a place where there really are risks on both sides. It’s hard to say exactly whether they’re in balance or not,” Mr. Powell said.Meanwhile, according to a summary of discussions, the Bank of Canada debated whether to raise interest rates in July as part of efforts to bring down inflation. Ultimately, the BoC did hike rates. What was the consensus they reached?b. “The cost of inaction is lower inflation"d.
a. “The discussion turned to whether it was appropriate to raise the rate in July or wait for more evidence to solidify the case for further tightening,” the summary says. “The consensus among members was thatthe summary of deliberations says.After a high-profile corporate rebrand, how did Elon Musk say users should refer to messages on his social media platform?