The U.S. Federal Reserve raises rates by a further 75bps but does not elaborate on forward guidance. Chairman Jerome Powell says the path to that end may “narrow further” but that the U.S. is not in a recession. Equities Stateside rally as downturn fears recede slightly on his comments. Facebook parent Meta posts its first-ever quarterly decline with CEO Mark Zuckerberg citing softer digital ad spending. We also hear from Airbus CEO Guillaume Faury who says the plane maker is cutting its jet forecast due to labour shortages and supply chain bottlenecks.  

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