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Wade Risks Significant Economic Hit FOLLOW BLOOMBERG EQUALITY View More Equality * Green Green * Science & Energy * Climate Adaptation * Finance * Politics * Culture & Design GREEN BHP Scraps Exit From Thermal Coal as Investors and Prices Shift GREEN California Debates Listing Western Joshua Tree as Threatened FEATURED * Data Dash * Hyperdrive FOLLOW BLOOMBERG GREEN View More Green * CityLab CityLab * Design * Culture * Transportation * Economy * Environment * Housing * Justice * Government * Technology CITYLAB Block to Give Up San Francisco Office in Blow to City’s Revival ECONOMY Chicago Taps Direct Cash Charity to Give Residents $500 a Month TRANSPORTATION How Many Bridges Does the Chesapeake Bay Need? FOLLOW BLOOMBERG CITYLAB View More CityLab * Crypto Crypto * Decentralized Finance * NFTs * Regulation * Technology CRYPTO Crypto Altcoins Pop as Post-Fed Rally Sweeps Across Risk Assets FINANCE The Crisis at Celsius Is Rocking DeFi and Crypto CRYPTO Top Democrat Seeks Probe on Use of Crypto in Retirement Accounts FOLLOW BLOOMBERG CRYPTO View More Crypto * More -------------------------------------------------------------------------------- article Economics Wall Street Sounds a Louder Recession Call After Fed Rate Hike The Big Take US Faces a Fed-Triggered Recession That May Cost Biden a Second Term Markets Powell Sets Path to Restrain Economy and Stop Runaway Inflation updated 3 hours ago Economics Key Takeaways From the Fed's Rate-Hike Decision and Forecasts LATEST Pursuits Letters Sent to García Márquez to Be Shown in Mexico City THE ASSOCIATED PRESS (FABIOLA SÁNCHEZ) updated 43m ago Markets Australia Hiring Boom Powers on; Jobless Rate Holds at 3.9% Swati Pandey updated 36m ago Technology China Home Prices Drop for Ninth Month as Demand Stays Weak Bloomberg News updated 14m ago Markets China Brokerage Warns Traders as Stock Surges Over 80% in Days John Cheng and Chloe Lo updated 26m ago Green BHP Scraps Exit From Thermal Coal as Investors and Prices Shift David Stringer 2h ago MOST READ Technology China Says It May Have Detected Signals From Alien Civilizations Bloomberg News Economics ECB Council to Hold Emergency Meeting to Address Market Selloff Carolynn Look Economics ECB Acts to Stem Nascent Italian Crisis With Pledge of New Tool Carolynn Look, Alexander Weber and Jana Randow Markets Stocks Jump as Powell Soothes Wall Street’s Nerves: Markets Wrap Rita Nazareth Markets Bill Gates Blasts Crypto, NFTs as Based on ‘Greater-Fool’ Theory Mark Bergen Unable to load stories at this time. Retry article Politics Putin Has Reason to Slow-Walk a Ukraine Grain Deal Russia’s invasion of Ukraine has triggered what could become a spiraling food crisis around the world by cutting off shipments of Ukrainian agricultural commodities. Satellite Images Detail Destruction at Major Ukraine Crop Port US Giving Artillery, Rockets, Ammo in $1 Billion Ukraine Package Biden Open to Using Cold-War Era Law to Ramp Up Gasoline Output Markets STOCKS, FUTURES UP POST-FED; TREASURIES RALLY EBBS: MARKETS WRAP The latest on what's moving markets. updated 17 minutes ago Business RYANAIR FACES STRIKE BY ITALY STAFF ON JUNE 25, ADDING TO EUROPE’S TRAVEL WOES The walkout will also involve staff in Spain, Portugal, France and Belgium. Markets LABOUR DEPLOYS GOLDMAN ALUM TO REPAIR UK BUSINESS RELATIONS Jim O’Neill served as a Treasury minister in David Cameron and Theresa May’s governments. Investing ROBINHOOD’S STOCK IS NOW WORTH LESS THAN ITS CASH ON HAND Shares slumped to a fresh low on Wednesday. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration 0:00 Loaded: 0% Progress: 0% Stream Type LIVE Remaining Time -0:00 Playback Rate 1x Chapters * Chapters Captions * captions settings, opens captions settings dialog * captions off, selected Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque Font Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall Caps Reset restore all settings to the default valuesDone Close Modal Dialog End of dialog window. Play Again Live Live on Bloomberg TV Bloomberg Markets Asia Green EUROPE’S RUBBER ADDICTION IS KILLING AFRICA’S TROPICAL FORESTS Politics UK USES NEW NATIONAL SECURITY POWERS TO PROBE 17 BUSINESS DEALS 3 hours ago OPINION Lionel Laurent WHEN CRYPTO’S OWN HEDGE FUND GENIUSES FAILED A lot of smart investors seem to have forgotten that prices can go down — and keep going down. Leonid Bershidsky PUTIN PREPARES TO DECLARE HIMSELF A CONQUEROR The Kremlin’s emerging plans for occupied Ukraine could amount to a declaration of permanent, open-ended war against other parts of Europe. Mark Gongloff FED INTENSIFIES EFFORTS TO LOCATE LOST PLOT It has to restore its own credibility and fight inflation while avoiding a huge recession. Best of luck. Therese Raphael DECISIVE PEOPLE AREN’T BETTER DECISION-MAKERS New research suggests that indecisive people don’t make worse decisions. But there is a crucial difference that holds them back. Clara Ferreira Marques THE WORLD CAN STAVE OFF PUTIN’S FOOD FIGHT Wealthy countries should support Ukraine’s efforts to export grain and make sure poorer countries can afford to buy it. More from Opinion OPINION Lionel Laurent WHEN CRYPTO’S OWN HEDGE FUND GENIUSES FAILED A lot of smart investors seem to have forgotten that prices can go down — and keep going down. Leonid Bershidsky PUTIN PREPARES TO DECLARE HIMSELF A CONQUEROR The Kremlin’s emerging plans for occupied Ukraine could amount to a declaration of permanent, open-ended war against other parts of Europe. Mark Gongloff FED INTENSIFIES EFFORTS TO LOCATE LOST PLOT It has to restore its own credibility and fight inflation while avoiding a huge recession. Best of luck. Therese Raphael DECISIVE PEOPLE AREN’T BETTER DECISION-MAKERS New research suggests that indecisive people don’t make worse decisions. But there is a crucial difference that holds them back. Clara Ferreira Marques THE WORLD CAN STAVE OFF PUTIN’S FOOD FIGHT Wealthy countries should support Ukraine’s efforts to export grain and make sure poorer countries can afford to buy it. More from Opinion One story you'll want to talk about. Get The Big Take newsletter in your inbox daily. Sign Up Bloomberg may send me offers and promotions. By submitting my information, I agree to the Privacy Policy and Terms of Service Markets GERMANY TO STOP PROPERTY DEALS IN CASH TO FIGHT MONEY LAUNDERING Business ISLAND AT THE END OF THE WORLD PITCHES $6 BILLION HYDROGEN DREAM Business RETIRING OLDER WORKERS POSE ‘SUBSTANTIAL’ THREAT TO UK ECONOMY 3 hours ago WAR IN UKRAINE Markets SATELLITE IMAGES DETAIL DESTRUCTION AT MAJOR UKRAINE CROP PORT Markets UKRAINE STEELMAKER SAYS RUSSIA IS TAKING METAL FROM MARIUPOL Politics CZECHS SEEK TO HELP REBUILD UKRAINE AND FOSTER ITS EU ENTRY BID Politics SCHOLZ, MACRON, DRAGHI PLAN JOINT VISIT TO KYIV ON THURSDAY More coverage STORIES FOR YOU Technology CHINA SAYS IT MAY HAVE DETECTED SIGNALS FROM ALIEN CIVILIZATIONS Politics RUSSIA TURNS TO OLD TANKS AS IT BURNS THROUGH WEAPONS IN UKRAINE Business DENMARK OVERTAKES SWITZERLAND AS WORLD’S MOST COMPETITIVE NATION Feature A RAGTAG BAND OF HACKERS IS WAGING CYBERWAR ON PUTIN’S SUPPLY LINES Markets WEALTH SHOCK DELAYS GOLD BULL MARKET AS GOLDMAN REVISES TARGETS Finance THE BEAR MARKET HAS FINALLY ARRIVED. HERE’S HOW TO MOVE ON AND ACT NOW CRYPTO Technology CELSIUS IS RUNNING OUT OF OPTIONS TO STAY SOLVENT, KAIKO SAYS updated 3 hours ago Markets GOLDMAN BUYBACK DESK WAS FLOODED WITH ORDERS DURING STOCK ROUT Crypto CRYPTO ALTCOINS POP AS POST-FED RALLY SWEEPS ACROSS RISK ASSETS updated an hour ago Finance THE CRISIS AT CELSIUS IS ROCKING DEFI AND CRYPTO More from Crypto EQUALITY Equality TORONTO POLICE MORE LIKELY TO USE FORCE AGAINST BLACK PEOPLE Equality PAID LEAVE, AFFORDABLE CHILD CARE ON WORKING WOMEN’S WISH LIST Equality BIDEN AIDE ROUSE WARNS ENDING ROE V. WADE RISKS SIGNIFICANT ECONOMIC HIT Equality MOST PARENTS SPEND OVER 20% OF THEIR INCOME ON CHILD CARE More from Equality The Business Network for the New Generation UP NEXT * On Now Bloomberg Technology * 11:00 PM Behind the Design: Racist Design * 12:00 AM Idea Generation: Russ * 12:30 AM Idea Generation: Ibrahim Hamad Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration 0:00 Loaded: 0% Progress: 0% Stream Type LIVE Remaining Time -0:00 Playback Rate 1x Chapters * Chapters Captions * captions settings, opens captions settings dialog * captions off, selected Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque Font Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall Caps Reset restore all settings to the default valuesDone Close Modal Dialog End of dialog window. Play Again Unmute LIVE NOW BLOOMBERG TECHNOLOGY The only daily news program focused exclusively on technology, innovation and the future of business. Start Watching And streaming on your TV: * * * * * Iconic Attraction Towed Out of Hong Kong The Rich Are Driving Climate Change The World's Smartest Robot Is Living in Vancouver How the UK Changed During Queen Elizabeth II’s 70-year Reign BLOOMBERG WEALTH Wealth CHINA-HONG KONG WEALTH LINK’S SLOW START BLAMED ON TRAVEL LIMITS Investing TIGER GLOBAL PARTNER BEHIND BIG CARVANA WAGER LEAVES HEDGE FUND Crypto TOP DEMOCRAT SEEKS PROBE ON USE OF CRYPTO IN RETIREMENT ACCOUNTS Wealth GOLDMAN GOES TO BROOKLYN CHAMPIONING PROGRAM TO HELP BLACK WOMEN More on Wealth Citylab BLOCK TO GIVE UP SAN FRANCISCO OFFICE IN BLOW TO CITY’S REVIVAL Economy CHICAGO TAPS DIRECT CASH CHARITY TO GIVE RESIDENTS $500 A MONTH Transportation HOW MANY BRIDGES DOES THE CHESAPEAKE BAY NEED? Transportation ‘TRAIN FANATICS’ SCORE A WIN IN CALIFORNIA BATTLE OVER IDLED TRACKS article BLOOMBERG GREEN Green BHP Scraps Exit From Thermal Coal as Investors and Prices Shift an hour ago Green CALIFORNIA DEBATES LISTING WESTERN JOSHUA TREE AS THREATENED updated 33 minutes ago Green HAITI MOURNS 11 WOMEN FROM FATAL VOYAGE NEAR PUERTO RICO updated 2 hours ago Green NASDAQ URGES SEC NOT TO MOVE AHEAD WITH CLIMATE DISCLOSURE PLAN Green NATIONAL GUARD RESCUES DOZENS FROM ‘500-YEAR’ FLOOD IN MONTANA, YELLOWSTONE More from Green March 29, 2022 October 29, 2021 April 19, 2021 December 15, 2020 September 14, 2020 June 9, 2020 Terms of Service Manage Cookies Trademarks Privacy Policy ©2022 Bloomberg L.P. All Rights Reserved Careers Made in NYC Advertise Ad Choices Help