The Latest Breaking News from Jerome Powell

Fed chair Jerome Powell said the central bank would make a decision on the rate raise in its March meeting

The US Federal Reserve left interest rates unchanged, but Powell said the Fed is ‘of a mind’ to raise them in March.

London (AFP) - European and US stock markets powered higher Wednesday, recovering further from recent sharp losses, as traders await the outcome of a key Federal Reserve policy meeting.

Stock futures power higher with the Fed and earnings in focus; Chairman Jerome Powell likely to signal a series of 2022 rate hikes, with the first expected in March; Microsoft's solid near-term sales outlook offsets a muted Q2 earnings report; Tesla Q4 earnings on deck, with delivery targets and production…

Rolling coverage of the latest economic and financial news

Washington (AFP) - The Federal Reserve's first policy meeting of the year hasn't even concluded but Wall Street already is unhappy, wary of what central bank chief Jerome Powell might say on Wednesday about his inflation-fighting plans.

Stocks are reeling before this week's Federal Reserve meeting, the last step before double-fisted tightening starts with rate hikes and balance sheet cuts.

With inflation punishing consumers and threatening the economy, the Federal Reserve will likely signal its intent this week to begin raising interest rates in March for the first time in three years