The Latest Breaking News from Jerome Powell

The Senate on Thursday confirmed Jerome Powell for a 2nd term as chairman of the Federal Reserve, the third Fed nominee confirmed this week.

Bill Dudley, formerly with the Fed and now at Princeton University, doesn’t expect inflation to reach the Fed's 2% target anytime soon.

The Nasdaq Composite Index, the benchmark for technology stocks in the US, fell to its lowest level since November 2020 on Thursday, May 5, which can be attributed to a number of factors, including lacklustre earnings from e-commerce firms like eBay (NASDAQ: EBAY) and macro-economic factors like the Federal R

The Fed’s recent interest rate hike of 0.5% is the most significant in over 20 years. Chairman Jerome Powell expects several additional rate hikes through the end of 2022 and into 2023 amid the highest inflation the United States has seen since December 1981.

Inflation is at a 40-year high

Twenty-two Democratic members of Congress are urging the Federal Reserve Bank of Dallas to appoint the first Latino regional president to fill the top position that’s been vacant since October.

Despite the continuing market correction, the Fed is largely optimistic about a resilient U.S. economy and a rebound in the coming quarters. So, quality tech stocks Playtika (PLTK), Genpact (G), and VMware (VMW) could be solid bets now. They are rated Strong Buys in our proprietary rating system. Read on.

The stock market rallied to start the week, initially soaring on Fed chief Jerome Powell's comments, but then dived as Treasury yields spiked.

The Nasdaq fell 4.99 per cent to finish at 12,317.69, its lowest closing level since November 2020