White House press secretary Jen Psaki on Monday said that RaskinвЂ™s вЂњbackground, her credentials, her experience is unquestionable,вЂќ that she believes firmly in the independence of the Fed, and that she should be judged on her qualifications, rather than because her husband is Rep. Raskin said she wouldnвЂ™t try to restrict lending to companies that are contributing to climate change, saying the Fed вЂњshould not pick winners and losers.вЂќ Pat Toomey (R., Pa.) told Raskin that using the role sheвЂ™s up for to address climate change was beyond its mandate. Cook and Jefferson, meanwhile, have been nominated to serve on the FedвЂ™s Board of Governors. Raskin has been nominated to serve as vice chair for supervision of the FedвЂ™s Board of Governors, the top bank regulator role. President Joe BidenвЂ™s three Federal Reserve nominees-Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson-testified Thursday before the Senate Banking Committee, answering questions about inflation, climate change, and their qualifications, The Wall Street Journal reported. Cho *** BidenвЂ™s Fed Nominees Defend Qualifications at Senate Hearing It expects operating income of between $3 billion and $6 billion.

WhatвЂ™s Next: Amazon is projecting sales of $112 billion to $117 billion for the March quarter, up between 3% and 8%.

Despite those challenges, he said: вЂњWe continue to feel optimistic and excited about the business as we emerge from the pandemic.вЂќ Subscription services revenue increased 15% to $8.1 billion.Д¬EO Andy Jassy said labor shortages and inflation increased costs over the holidays, вЂњas expected,вЂќ and persisted in the first quarter because of the Omicron coronavirus variant. Advertising revenue was up 32% to $9.7 billion, higher than the consensus forecast of $9.4 billion. Earnings were distorted by a noncash $11.8 billion pretax gain on the companyвЂ™s stake in Rivian.ДЄmazon Web Services posted revenue of $17.8 billion, up 40% from last year, ahead of the $17.4 billion Wall Street had expected. Profit rose to $14.3 billion, or $27.75 a share. It is the first increase since 2018.ДЄmazon said fourth-quarter sales grew 9% to $137.4 billion, in line with what analysts had expected. 25 for current members when their memberships renew. *** Amazon Raising Price of Prime Membership to $14.99 a MonthДЄmazon reported a strong fourth quarter on Thursday, including growth in its AWS cloud unit and its advertising business, and said it is hiking the price of its Amazon Prime membership.ДЄmazon will raise the price of Prime membership to $14.99 a month, up from $12.99, or $139 annually, up from $119. Alpert today at noon as he talks to K2 Integrity Managing Director Raymond Dookhie about the latest in what financial institutions are doing to battle fraud and stay in regulatory compliance in a fast-changing world. *** Join MarketWatch financial crime reporter Lukas I. Snap stock fell 24% yesterday but was soaring close to 50% in premarket trading Friday. Investors had feared MetaвЂ™s problems over engagement would be felt by the Snapchat owner. Which has also previously flagged the impact of Apple privacy changes, reported a surprise profit and strong daily active-user growth. The relief rally developing Friday wasnвЂ™t for everyone, though. The megacap names have long been immune to market volatility but seemingly not anymore. ItвЂ™s more of a recovery bounce than anything else, though, after Amazon stock tumbled 8% on Thursday. The stock market could end up seeing one of the biggest one-day market cap gains by a company, just a day after Meta recorded the biggest daily drop, losing $232 billion.

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