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The Latest Breaking News from Jerome Powell

The surprising impotence of Fed rate hikes

Despite rising interest rates, the economy remains as robust as ever, with a five-decade low in unemployment rate and inflation far above the Fed's goals.

Axios

Powell’s debt-limit alarm echoes stealth lobbying effort in 2011

In the worst political showdown over the U.S. debt limit to date, a little-known former Treasury official in 2011 helped convince lawmakers that raising the ceiling was the only option. He’s back at it now, but from a much higher perch: chair of the Federal Reserve.

Tribune News Service

The Pandemic Housing Correction is both mild and the second biggest home price pullback of the post-WWII era

U.S. home prices as measured by the seasonally adjusted Case-Shiller National Home Price Index fell for the sixth straight month in December.

Fortune

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The Fed doesn’t care about Wall Street as much as Wall Street thinks

There’s something of a ritual performed each time Federal Reserve Chair Jerome Powell speaks to the press: A reporter asks Powell about financial conditions; he says they’ve tightened a lot; the Wall Street crowd snickers.

Tribune News Service

Jamie Dimon says the Fed has ‘lost a little bit of control’ on inflation and the economy is facing some ‘scary stuff’

The Fed’s path to bringing down inflation is still far from guaranteed.

Fortune

Economic tailwind from flush states

State and local governments are swimming in cash.

Axios

2 Stocks on Track for Massive Gains in 2023

While Federal Reserve Chair Jerome Powell is trying to steer the economy toward a ‘soft landing,’ a strong job market will likely keep the Fed wary. Meanwhile, as investors mull over the Fed’s next steps, the market could remain volatile for some time. Hence, investing in fundamentally sound stocks, CVS…

StockNews.com

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Gold outlook remains plated in mystery

Gold is perceived as a safe-haven asset, a long-term investment and a hedge against uncertainty in the global economy and geopolitics.

Bangkok Post

Bitcoin maximalist Mike Novogratz, who once predicted it hitting $500K in 2024, would now be ‘the happiest guy’ if it ends the year at $30K

Bitcoin will eventually hit $500,000, but not in the next five years, the Galaxy Digital CEO said Wednesday.

Fortune

Senate pressure mounts on Biden to nominate first Latino to Fed - Roll Call

Several Senate Banking Committee Democrats are pushing President Joe Biden to nominate a Latino for the Federal Reserve Board.

Roll Call

Cautious but steady consumers buoying hopes for US economy

Call it the Goldilocks consumer

The Independent UK

AP source: Biden to name Brainard to head Economic Council

President Joe Biden plans to name Federal Reserve Vice Chair Lael Brainard as the new director of his National Economic Council

The Independent UK

US inflation rate fell to 6.4% last month

The US Consumer Prices Index now at its lowest since October 2021

Evening Standard

Inflation eased again in January – but there's a cautionary sign

Annual inflation cooled in January for the seventh month in a row. But price increases accelerated between December and January, fueled by rising shelter, food and gasoline prices.

WEKU

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The Guardian - US

US inflation eases again for seventh consecutive month

Falling prices are welcome news, but latest reading is still far higher than the Federal Reserve’s annual target rate of 2% inflation

The Independent UK

US inflation likely eased again last month if more gradually

U.S. inflation likely slowed again last month in the latest sign that consumer price increases are becoming less of a burden on America’s households

Fortune

Larry Summers warns now is not the time for investor ‘euphoria’—markets are headed for a ‘turbulent period’

“I think the consensus has become substantially too complacent about inflation,” the former Treasury Secretary told Bloomberg Friday.

Tribune News Service

Bill Dudley: Will the Fed go longer or higher? Maybe both

How will the US Federal Reserve wage its battle with inflation — by keeping interest rates elevated for longer, or by taking them even higher? Investors are fixated on this question, which has vast implications for bonds, stocks and the entire economy.

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The Independent UK

Asian stocks slide ahead of US inflation update

Asian stock markets are lower ahead of a U.S. inflation update that traders worry might lead to more interest rate hikes

StockNews.com

These Are the 2 Stocks to Buy Ahead of a Potential Recession

Despite the cooling down of inflation, the January job surge might prompt the Fed to raise interest rates higher than expected by the end of the year. And progressive rate hikes could push the economy into a recession. Amid growing recession fears, investors could consider buying fundamentally strong stocks Walmart…

Fortune

Jamie Dimon fears markets prematurely declared victory over inflation: ‘People should take a deep breath’

The CEO of the world’s most valuable bank, JPMorgan, warns pricing pressure may prove stickier than many investors believe.

StockNews.com

Up More Than 40% This Year, Is Shopify Stock a Buy?

Canadian e-commerce major Shopify’s (SHOP) shares have gained more than 40% this year on the news of hiking prices for its plans. With inflation remaining high and the Fed open to raising interest rates beyond its predicted range, is the stock a buy now? Read on to learn our view….

StockNews.com

3 Stable Stocks That Could Help Pay Your Bills in 2023

Despite eased inflation, the robust jobs report raised the prospect of progressive rate hikes. With anxiety escalating about the possibility of a Fed-induced recession, the market volatility is expected to remain elevated in the near future. Hence, investors could consider fundamentally sound and stable stocks Novartis (NVS), Descartes Systems (DSGX),…

StockNews.com

3 High-Value Stocks to Buy and Hold for a Lifetime

Despite showing signs of cooling, inflation is still well above the Fed’s 2% target. Moreover, January’s strong jobs report may encourage the Fed to raise interest rates even further, keeping the stock market highly volatile in the near term. Amid an uncertain macro environment, it could be wise to buy…

StockNews.com

1 Dividend Stock You'll Be Thankful to Own in 2023

With the market relapsing into a fresh bout of the volatility after estimate-crushing employment numbers, high dividend-yielding and fundamentally sound stock Gilead Sciences (GILD) could help investors secure a steady income stream. Read on….

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