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The Latest Breaking News from Jay Powell

Inflation Is Sticky, But Economists Can’t Agree on Why

The tight labor market plays an important role, but may not be the main culprit.

Businessweek

Silicon Valley Bank: the multiple warnings that were missed

Ahead of the first official postmortem on its collapse, bankers, regulators and executives admit that it was a crisis hiding in plain sight

Financial Times

Citi boss blames banking crisis on a few black sheep: ‘This is not a credit crisis’

Silicon Valley Bank and Credit Suisse only really have themselves to blame for their collapse, argued the native Scot.

Fortune

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Elizabeth Warren says Jerome Powell has 'failed' at both of his jobs and shouldn't be Fed chair

Powell's handling of the economy and banking regulations has left a lot to be desired for some critics.

Fortune

Elizabeth Warren says Fed chair ‘failed’ and calls for inquiry into bank collapse

Progressive Democrat launches offensive on politicians on the left and the right who supported Trump-era deregulation of US banks

The Guardian - US

How Fed shrapnel killed Silicon Valley Bank

Continuing to tighten monetary policy in this environment of bank blowups and declining consumer and business confidence is a surefire recipe for disaster.

Fortune

Are interest rates really going to keep rising sharply?

For anyone trying to understand where interest rates and inflation are heading, it has been a strenuous few days. Jay Powell, chairman of US central bank the Federal Reserve, warned senators he may have to do more to fight inflation than expected, indicating the prospect of interest rates rising more…

The Conversation

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World’s largest asset manager warns Fed may not stop hiking until rates hit 6%

Should BlackRock’s prediction prove true, borrowing costs would hit their highest level since 2001.

Fortune

Bond traders haven’t been this scared of a recession since 1981

It’s time to brush up on yield curve inversions (again). They’ve predicted every recession since 1955.

Fortune

Wall Street’s most successful hedge fund just politely told the Fed to shut up

Citadel's Ken Griffin said the Fed cannot work magic, so it must avoid making its job of tackling inflation harder by confusing markets.

Fortune

The most influential figure in America’s economy earns just $190,000 a year—and he says that’s fair

The chair of the Federal Reserve has a more immediate impact on investement, employment and asset prices than anyone else, and yet CEOs would scoff at his take home pay.

Fortune

Editorial: Getting Fed up: Federal Reserve’s continuing rate hikes may be too much

The Federal Reserve shocked no one Wednesday when it announced another 25 basis-point hike to interest rates. Yet our lack of surprise doesn’t mean a lack of questions about the central bankers’ continuing anti-inflation warpath.

Tribune News Service

Layoffs are the medicine America needs to take to break out of inflation’s vicious circle, says former Walmart U.S. CEO

More job losses across the economy are necessary to break the ongoing wage-price spiral, a danger the bricks-and-mortar employer itself is risking with its recent pay hike.

Fortune

JP Morgan warns of gloomy job market ahead as the economy 'slips into a recession'

Hopes for a Fed pivot are premature, as Jay Powell has not succeeded yet in anchoring inflation expectations.

Fortune

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Roll Call

What to read (and gift): Capitol Hill insiders share their favorite books of 2022 - Roll Call

Books are the ultimate power gift in political Washington, so we asked some people with impressive-sounding job titles for their picks.

Axios

Fed chair Powell on the U.S. labor shortage: COVID, retirements, missing immigrants

Close to half a million working-age people lost their lives to COVID.

Fortune

Why Fed Chair Jay Powell is the man to watch in 2023

Recession fears may not be overwrought so much as premature.

Axios

Fed chair Jay Powell explains America's worker shortage

America is still missing 3.5 million workers.

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Fortune

Aging boomers are making it harder to tame inflation

Older Americans aren’t returning to the workforce, and that has major implications for inflation and the U.S. economy long term.

Fortune

Fed Chair Jerome Powell is on a high-stakes mission to tame inflation. Some insiders fear he’ll go too far. Others fear he won’t go far enough

The Federal Reserve chairman has sworn to fight runaway price increases, but Powell's critics fear he’ll cave in to political pressure before he wins the battle.

Fortune

The Fed risks a 1920s-style Great Depression, warns ARK Invest's Cathie Wood

The celebrated ARK Invest founder warns the Fed is moving too quickly this year.

Tribune News Service

Editorial: In the economy’s interest: Federal Reserve is right to suggest slowing rate hikes

Economies are not known for being simple things to untangle. Unlike in the physical sciences, where if you do enough calculations, you can shoot a projectile into an asteroid moving at an incredible speed 7 million miles away, the so-called laws of money deal with the hazier and less predictable…

Financial Times

The Fed’s dilemma: how long to ‘keep at it’ on inflation

Amid conflicting economic signals and with midterms looming, the US central bank weighs a critical decision over interest rates

Benzinga

Fed Raises Rates 0.75% For Third Straight Time: 'We Will Keep At It Until We're Confident The Job Is Done'

The SPDR S&P 500 (ARCA:SPY) is volatile after the Federal Reserve on Wednesday raised its benchmark rate by 0.75% for the third straight time and indicated that it will continue to hike well above the current level.

Newsroom.co.nz

Markets charge higher despite the prospect of further rate hikes

The NZX50 records its first weekly ‘three-peat’ in a year, notching up a third consecutive week of gains to close at a 3-month high

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