Prigozhin's uprising may have done irreparable damage to the image of President Vladimir Putin at home and abroad.įormer U.S. Yevgeny Prigozhin, head of the the Wagner Group, is pictured during a funeral ceremony in Moscow on April 8. Within hours, however, Prigozhin - a former close confidant of Putin who had accused Russia's military leadership of attacking and killing his soldiers - said he had commanded his forces to return to their bases.Īlexander Gabuev, director of the Carnegie Russia Eurasia Center, says despite the apparent end of the mutiny, the Russian leader will undoubtedly be weakened by the strong challenge to his authority. Wagner forces then began making their way toward Moscow in what looked to the outside world like an attempted coup d'etat. Yevgeny Prigozhin, the head of the shadowy private army that has played an outsized role in the fighting in Ukraine, claimed on Saturday to be in control of Russia's military headquarters in the city of Rostov-on-Don, a key installation the Kremlin has used as a base for its offensive operations in Ukraine. Gavriil Grigorov/Sputnik, Kremlin Pool Photo via APĪ mutiny by Russia's Wagner Group of mercenaries appears to have ended with the leader recalling his troops, but the uprising may have done irreparable damage to the image of President Vladimir Putin at home and abroad, analysts say. And pressure on these banks would make it tougher for smaller and midsized businesses to get loans, which would hurt the economy.Russian President Vladimir Putin addresses the nation on Saturday after Yevgeny Prigozhin, the owner of the Wagner Group military company, called for armed rebellion and reached the southern city of Rostov-on-Don. commercial and industrial lending, according to Ann Miletti, head of active equity at Allspring Global Investments. Smaller and regional banks account for about 50% of U.S. ![]() The banking industry remains under pressure, even after the federal government acted quickly to provide support. High rates have already helped cause three high-profile failures in the U.S. He likened it to slowing from 75 miles per hour on a highway to 50 and then even slower as the destination nears. “Given how far we’ve come, it may make sense to move rates higher but to do so at a more moderate pace,” he said in testimony before a House of Representatives committee. Some analysts say the rally ran too far, too fast while inflation has remained stubbornly high, which could force the Fed to keep rates higher for longer.įed Chair Jerome Powell said Wednesday that “the process of getting inflation back down to 2% has a long way to go.” He said again that a couple more rate increases may be on the way, though the speed of the hikes is likely to slow after moving at a furious speed since early last year. That would take pressure off the economy and could allow it to avoid a recession. ![]() ![]() Wall Street had been on a tear this year, with the S&P 500 up nearly 14% amid hopes that inflation is coming down quickly enough for the Federal Reserve to stop hiking interest rates soon. ![]() Still, roughly as many stocks rose as fell on Wall Street, and the Dow Jones Industrial Average dropped by a milder 0.3%, to 33,951.52. Weakness for high-growth stocks hit the Nasdaq composite in particular, and it lost 1.2% to 13,502.20.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |