Five Things You Need to Know to Start Your Day – Bloomberg
US says Cuba hosts Chinese spy facilities. Fed prepares to take a rate hike breather. UBS slaps restrictions on bankers from Credit Suisse. Here’s what you need to know today.
Spy Base
The White House has acknowledged the existence of Chinese spy facilities in Cuba, saying their presence dates back to the Trump administration. The admission came Saturday in a statement that said US intelligence indicates that China has long maintained facilities in Cuba and that they were expanded in 2019. The White House had pushed back days earlier on a report in the Wall Street Journal that said China and Cuba had reached a secret agreement to establish a spy facility on the island.
Holding Time
Federal Reserve officials are ready to take a breather after more than a year of driving up interest rates. Policymakers are expected to leave rates in a range of 5% to 5.25% at their meeting this week, allowing them to take stock of the outlook following recent strains in the banking sector. But the…
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