Jerome Powell
Federal Reserve Chair Jerome Powell swore in three members of the central bank’s governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bank’s first Latina governor.
Business Highlights: A summary of the day’s top stories in the business world.
Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank’s policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation.
Asian shares are mostly lower as investors fret that the Federal Reserve might raise interest rates faster if pressure stays high on inflation.
The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy, Chair Jerome Powell says in prepared testimony to a Senate panel.
When Federal Reserve Chair Jerome Powell last appeared before Congress, in June 2022, inflation had reached a four-decade high of nearly 9% and showed no sign of easing.
The Federal Reserve is poised this week to raise its benchmark interest rate for an eighth time since March.
The Federal Reserve has only a limited role to play in combating climate change, Chair Jerome Powell said Tuesday, a stance that puts him at odds with environmental activists who have pushed central banks worldwide to take steps to restrict lending to energy companies.
America’s employers are posting more job openings than they did before the pandemic struck 2½ years ago. Problem is, there aren’t enough applicants.
Stocks ended mixed after an uneven day of trading and bond yields fell broadly after the government reported that a measure of inflation that’s closely watched by the Federal Reserve eased in October.
Shares have advanced in Asia after a rally on Wall Street spurred by the chair of the Federal Reserve’s comments on easing the pace of interest rate hikes to tame inflation.
Stocks rallied on Wall Street after the head of the Federal Reserve said the central bank could soon ease up on its aggressive pace of interest rate hikes aimed at taming inflation.
Fed Chair Jerome Powell says the Federal Reserve will push rates higher than previously expected and keep them there longer to fight a stubborn bout of inflation.
Two Federal Reserve officials said they favor raising the Fed’s key rate to roughly 5% or more and keeping it at its peak through next year — longer than many on Wall Street have expected.
Federal Reserve Chair Jerome Powell sought to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections.
Asian stock markets have sunk after the Federal Reserve added to fears of a possible recession by saying it wasn’t finished raising U.S. interest rates to cool inflation.
Federal Reserve Chair Jerome Powell sought to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections.
Stocks closed broadly lower on Wall Street Wednesday after Federal Reserve Chair Jerome Powell signaled that the central bank will eventually need to bring rates higher than previously anticipated in order to tame the worst inflation in decades.
The Federal Reserve may reach a turning point this week as it announces what’s expected to be another substantial three-quarter-point hike in its key interest rate — its fourth straight.
Federal Reserve Chair Jerome Powell said that stablecoins will need greater regulation as they become more widely used by consumers.
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Powell’s stark message: Inflation fight may cause recession
WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
Powell’s stark message: Inflation fight may cause recession
WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
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How much ‘pain’? Fed to signal more rate hikes ahead
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain.”
How much ‘pain’? Fed to signal more rate hikes ahead
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain.”
Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain.”
Asian benchmarks are rising, cheered by gains on Wall Street as comments from the Federal Reserve chairman assured markets on the expected rate rise.
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Powell: Higher rates unlikely to cause deep US recession
WASHINGTON (AP) — The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels — and in the process caused a deep recession and sharply higher unemployment.
Powell: Higher rates unlikely to cause deep US recession
WASHINGTON (AP) — The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels — and in the process caused a deep recession and sharply higher unemployment.
The S&P 500 rose 0.7% Thursday.
The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels — and in the process caused a deep recession and sharply higher unemployment.
A top Fed official says the Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and keep it there for an extended period.
Asian stocks are mixed after Wall Street fell following last week’s Federal Reserve pledge to fight inflation by keeping interest rates elevated.
Stocks closed sharply lower after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on high interest rates in its effort to tame inflation.