Fed officials push for stronger guidance about where policy is headed, minutes show

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The Federal Reserve on Wednesday released the minutes from its June 9-10 meeting, during which it held interest rates steady and had an in-depth discussion about capping bond yields and strengthening its guidance about where policy will be set in the future.

Central bankers on the Federal Open Market Committee voted to hold their benchmark short-term borrowing rate in a range of 0%-0.25%. That’s where the Fed took the rate in mid-March as it sought to provide support for an economy reeling from the coronavirus.

Officials at the meeting noted that “the current stance of monetary policy remained appropriate” but

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Why his deal with the Mets was so lucrative

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Bobby Bonilla of the New York Mets looks on before a baseball game against the Arizona Diamondbacks on May 15, 1999 at Shea Stadium in New York.

Mitchell Layton/Getty Images

Bobby Bonilla, who retired as a baseball player in 2001, hasn’t played for the New York Mets since 1999.

Yet Bonilla is among the highest-paid position players on the Mets’ payroll this year.  

The team paid the 57-year-old $1,193,248.20 on Wednesday — as it has each year over the past decade and will continue doing through 2035.

His payday, July 1, is known widely as “Bobby Bonilla Day.”

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FedEx, Pfizer, Macy’s, Beyond Meat & more

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A woman walks past FedEx Corp. Ground vehicle parked in the Midtown neighborhood of New York, U.S., on Friday, Dec. 4, 2015.

John Taggart | Bloomberg | Getty Images

Check out the companies making headlines in midday trading. 

FedEx — Shares of FedEx jumped more than 14% after the company’s fourth quarter results blew past analyst estimates on the top and bottom lines as consumers flocked to online shopping amid the Covid-19 pandemic. Wednesday’s gain — if it holds through the close — would represent the stock’s best day since Sept. 29, 1986.

Pfizer — Shares of drugmaker Pfizer surged

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‘major turning point’ for responsible ESG investing, says JPMorgan

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The coronavirus pandemic and the destruction left in its wake could lead to a greater adoption of socially responsible investing, according to JPMorgan.

In a report released Wednesday, the firm said that Covid-19 could prove to be a “major turning point for ESG,” which is when investors consider a company’s environmental, social and governance factors alongside traditional metrics like balance sheet strength and earnings growth potential. 

“The COVID-19 crisis has not only brought on the greatest recession since World War II, but investors are also calling it the 21st century’s first “sustainability” crisis and one that has renewed the

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