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The Latest Breaking News from Jerome Powell

2 Insanely Expensive Stocks to Avoid in 2023

The recent hawkish comments from Fed chair Powell have increased expectations of more interest rate hikes this year. Economists believe that aggressive rate hikes will eventually lead to a recession. Amid an uncertain macroeconomic backdrop, it could be wise to avoid pricey stocks Take-Two Interactive Software (TTWO) and SVB Financial…

StockNews.com

Average US mortgage rate up for fifth straight week to 6.73%

The average long-term U.S. mortgage rate rose for the fifth straight week to its highest level since breaching 7% in November, just as the spring buying season gets ready to kick off

The Independent UK

Is It Finally Time to Sell This Cruise Line Stock?

While Carnival (CCL) has been able to stage a post-pandemic recovery, it is yet to return to profitability like many of its peers. With high inflation, rising interest rates, fears of recession, and unenviable unit economics let’s find out if the cruise line stock would struggle to keep itself afloat.…

StockNews.com

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3 Dirt Cheap Stocks to Buy in March 2023

As Fed Chairman Jerome Powell cautions against higher-than-expected interest rates to curb inflation, markets fear this could tip the economy into a recession. Historically, value stocks have outperformed growth stocks in a high-interest-rate environment. Therefore, it could be wise for investors to buy fundamentally strong stocks ARC Document Solutions (ARC),…

StockNews.com

3 High-Quality Stocks to Buy Now and Hold for the Next Decade

With the Fed extremely likely to raise the benchmark interest rates higher than envisaged by policymakers, the economy and the stock market are expected to remain under pressure. Amid the uncertainty, it could be wise to invest in high-quality stocks Visa (V), Novo Nordisk A/S (NVO), and Autodesk (ADSK) for…

StockNews.com

Asian stocks mixed after Wall St steadies amid rate fears

Asian stock markets are mixed after Wall Street steadied following a plunge on worries about more U.S. interest rate hikes

The Independent UK

Asian bourses dip on rate hike hint

Asian stocks tumbled on Wednesday as regional currencies weakened following comments overnight by Federal Reserve chair Jerome Powell that raise the possibility the US central bank would resume large-scale interest rate hikes to tame sticky inflation.

Bangkok Post

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Fed Chairman Jerome Powell says a CBDC won't happen soon: 'We're not at the stage of making any real decisions'

President Joe Biden issued an executive order last year calling for more urgency and research on CBDCs.

Fortune

Powell says ‘no decision’ has been made on speeding up pace of rate hikes

Federal Reserve Chair Jerome Powell stressed that policymakers had not yet made up their minds on the size of their interest-rate increase later this month and said it would hinge on incoming data on jobs and inflation.

Tribune News Service

Powell softens tone and says March rate hike size is not yet decided

Federal Reserve Chair Jerome Powell softened his tone slightly during a second day of congressional testimony, saying policymakers will wait for fresh jobs and inflation data before deciding how much to raise interest rates later this month.

Tribune News Service

'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

Lawmakers are trying to seize the crypto debate back

Can a divided Congress manage to pass legislation?

Fortune

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Asharq Al-Awsat

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.

The Guardian - UK

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 Independent 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

Tribune News Service

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.

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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…

ABC News

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.

Tribune News Service

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.

Fortune

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.

WEKU

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.

Tribune News Service

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.

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

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