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The Latest Breaking News from Jerome Powell

'It really shouldn't be this way': Top economist Mohamed El-Erian blames the Fed for bad messaging and stock volatility

Fed's Jerome Powell hinted in February that inflation hikes would slow because disinflation was underway. But on Tuesday, he seemed to backtrack.

Fortune

Powell says 'no decision' on the Fed's next move on rates

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

The Independent UK

The US central bank is poised to cause untold hardship to millions of Americans

The Federal Reserve chairman has admitted that at least 2 million people could lose their jobs if interest rates keep rising

The Guardian - US

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Lawmakers are trying to seize the crypto debate back

Can a divided Congress manage to pass legislation?

Fortune

Oil Extends Declines on Rate Hike Concerns

Oil prices fell for a second straight session on Wednesday, driven by fears that more aggressive US interest rate hikes would hit demand, while the market awaited further clarity on inventories. Brent crude futures dipped 22 cents, or 0.3%, to $83.07 per barrel by 0730 GMT.

Asharq Al-Awsat

Bank of England policymaker calls for interest rates to be held; RMT to hold vote on Network Rail pay offer – as it happened

MPC member Swati Dhingra warns against that overtightening monetary policy could harm weak economy

The Guardian - UK

Asian stocks tumble amid fears about faster rate hikes

Asian shares are mostly lower as investors fret that the Federal Reserve might raise interest rates faster if pressure stays high on inflation

The Independent UK

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Debt limit action needed by mid-August, analysts warn. Here are 5 possible scenarios

WASHINGTON — Economists at Moody’s Analytics estimate that the Treasury Department will run out of borrowing room by mid-August if Congress doesn’t act to raise or suspend the statutory debt limit by then.

Tribune News Service

Mohamed A. El-Erian: Powell’s comments unleash unsettling volatility

It really shouldn’t be this way, and it doesn’t need to be. Yet once again remarks by Federal Reserve Chair Jerome Powell fueled considerable volatility in markets that could risk both economic well-being and financial stability. It’s a phenomenon that not only highlights repeated policy slippages but also the lack…

Tribune News Service

RBA governor Philip Lowe says interest rate 'pause closer' with 'open mind' based on data

The Reserve Bank governor says the board is considering a pause after 10 consecutive interest rate rises, possibly as early as April, but the timing will depend on incoming economic data.

ABC News

Debt limit action needed by mid-August, analysts warn

Economists at Moody’s Analytics estimate that the Treasury Department will run out of borrowing room by mid-August if Congress doesn’t act to raise or suspend the statutory debt limit by then.

Tribune News Service

Powell warns of crypto risks, but doesn't want innovation stifled

The chairman added separately in a Senate hearing on Tuesday that the Fed could accelerate rate hikes in the coming year.

Fortune

Federal Reserve Chair Jerome Powell warns inflation fight will be long and bumpy

Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.

WEKU

Fed’s Powell tells senators rate hikes could go higher, come faster

WASHINGTON — Hot inflation data could lead the Federal Reserve to raise interest rates to higher levels and at an accelerated pace, Federal Reserve Chairman Jerome Powell told the Senate Banking Committee on Tuesday.

Tribune News Service

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The Guardian - US

US has ‘long way to go’ to reduce inflation, Fed chair tells Congress

‘Ultimate level’ of interest rates likely higher than anticipated, Jerome Powell says in Fed’s monetary policy report to Senate panel

The Independent UK

Watch live: Federal Reserve chair Jerome Powell testifies before Senate committee

Watch live as the Federal Reserve chair delivers the semiannual monetary policy testimony before the Senate Banking Committee.

The Independent UK

US economy sending mixed signals: Here's what it all means

For a few weeks in late January and early February, the U.S. economy seemed to have reached a rare sweet spot

Axios

Fed chair Jerome Powell opens the door to faster interest rate hikes

For the first time, Powell suggested the Fed could revert to a faster pace of hikes.

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Roll Call

Debt limit action needed by mid-August, analysts warn - Roll Call

Economists at Moody’s Analytics estimate that the Treasury Department will run out of borrowing room by mid-August if Congress doesn’t act.

StockNews.com

4 Stocks to Buy in Any Market Climate

The stock market is expected to remain volatile in the near term as investors remain anxious about the Fed’s actions. Amid high recession worries, fundamentally strong healthcare stocks, Pfizer (PFE), Bristol-Myers Squibb (BMY), Amgen (AMGN), and Elevance Health (ELV), which have the potential to withstand any market downturns, could be…

Roll Call

Fed's Powell tells senators rate hikes could go higher, come faster - Roll Call

Federal Reserve Chairman Jerome Powell discussed the fight against inflation, cryptocurrencies, office vacancies and the debt limit.

The Guardian - UK

Markets rocked as Jerome Powell warns Fed could switch back to bigger interest rate rises –as it happened

Federal Reserve chair says US central bank would be prepared to increase the pace of rate hikes if data justified it

The Independent UK

Powell to face Senate grilling on Fed rates and inflation

If measures of the U.S. economy keep coming in hot, as they did in January, the Federal Reserve will likely have to raise interest rates even higher than it has already signaled — and keep them there longer — Chair Jerome Powell will likely warn in testimony to Congress on…

Fortune

Investors beware: Fed Chair Jerome Powell's comments this week could spark a major tech selloff, top analyst warns

“I’m a big believer in tech, but I think the first half of the year is going to be a difficult era,” Deepwater Asset Management's Munster warned Monday.

The Independent UK

Inflation pressures put Powell in spotlight before Congress

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

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