The Latest Breaking News from Jerome Powell

Futures signaled further losses as a hawkish Fed sends Treasury yields soaring. Elon Musk's Twitter moves are weighing on Donald Trump's Truth Social.

The US Federal Reserve has finally acknowledged the reality of the inflation problem. The uncertainty raised by the Russia-Ukraine war did not stop it from raising rates at its March policy meeting, though it capped its first hike to just 25 basis points.

BofA's forecast reflects 'the Fed's acceptance that they are behind the curve' on inflation, said the bank's economists.

U.S. indices finished mixed Friday to conclude the trading week. Oil prices gained during Friday's session, which has continued to pressure economic sentiment. The S&P 500 traded higher for the second week in a row and has now more than erased its initial losses following the Russian invasion of Ukraine.

After two consecutive weeks of gains, the SPDR S&P 500 ETF Trust (NYSE: SPY) has now erased its initial losses following the Russian invasion of Ukraine.

The market rally continued to show gains, even as crude oil and especially Treasury yields rose. Tesla and Nvidia rose on news.

The U.S. Federal Reserve raised its target Fed funds rate by 0.25% earlier this month, its first interest rate hike since 2018. The Fed's updated dot plot projections are calling for six more 0.25% rate hikes in 2022, but the latest comments from Fed Chair Jerome Powell suggest the Fed…

Federal Reserve Chair Jerome Powell said Wednesday that new forms of digital money such as cryptocurrencies and stablecoins present risks to the U.S. financial system and will require new rules to protect consumers

In 1979, with inflation at 11% and rising, newly appointed Federal Reserve chairman Paul Volcker called a surprise Saturday press conference in October to announce he was shaking up the central bank’s plans to get a handle on rising prices.