Commerce Secretary Gina Raimondo said Wednesday she expects rules to implement U.S. outbound investment restrictions on China will be completed by the end of the year. President Joe Biden in August issued an executive order authorizing the Treasury secretary to prohibit or restrict U.S. investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems. Raimondo said at a U.S. House hearing she expects Treasury to complete the rules by the end of 2024.
Holocaust Memorial Day message suggested Israeli action in Gaza is genocide
Boston Fed president Susan Collins said Wednesday it will take longer 'than previously thought' to bring inflation down, becoming the latest policymaker to make it clear rates need to stay at their current levels.