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The Latest Breaking News from Jay Powell

The Fed’s favorite inflation gauge cooled in October, and Wall Street believes it may signal ‘interest rate cuts are on the horizon’

The Fed’s favorite inflation gauge cooled in October, giving investors hope that the central bank’s more than 20-month-long interest rate hiking campaign is coming to an end.

Fortune

GOP Senator Rick Scott Rips Apart Fed’s Monetary Policy Stance

The Florida Senator expressed his disappointment in the Fed's stance on the monetary policy.

Zenger

NZ sharemarket on verge of bear market

Business & investing: The NZX50 has fallen 19.5 percent since January 2021, meaning it is likely to be grizzly this week. Andrew Patterson reports.

Newsroom.co.nz

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Economy bounces back after flooding, but primary industries fall

Business & investing: NZ economists warn better-than-expected GDP data likely to be temporary, and US Federal Reserve held its benchmark interest rate steady for a second time

Newsroom.co.nz

Are Stocks Ready to Make New Highs?

The recent sell off is over for the stock market...but are stocks really ready to make new highs above 4,600 for the S&P 500 (SPY)? 43 year investment veteran Steve Reitmeister shares his latest market outlook, trading plan and top picks in this fresh commentary below.

StockNews.com

Russia rescues Putin from humiliating ruble collapse

The currency has now surrendered all of its gains from last year to plumb depths not seen since an investor panic in the early days of the war.

Fortune

Bidenomics’ critics are being proven wrong. Happy days are here again

How has the U.S. economy proven so resilient? Partly due to Bidenomics, write Yale's Sonnenfeld and Tian.

Fortune

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Yellen makes academic case for "Bidenonomics"

She's also enlisting the support of business leaders to prove that the economic is resilient.

Axios

Immigration isn't driving inflation, new report concludes

Business and investing: Hawkish central banks keep investors on edge; ERoad takeover offer sends share price rocketing; Bitcoin arises from its slumber. Andrew Patterson reports.

Newsroom.co.nz

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

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

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Fortune

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.

The Conversation

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…

Fortune

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.

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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.

Tribune News Service

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.

Fortune

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.

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.

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