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The Latest Breaking News from Jerome Powell

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 Guardian - US

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

The Independent UK

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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.

Axios

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.

Roll Call

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…

StockNews.com

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.

Roll Call

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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 Guardian - 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…

The Independent UK

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.

Fortune

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

The Independent UK

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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Tribune News Service

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.

Fortune

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.

Axios

Economic tailwind from flush states

State and local governments are swimming in cash.

StockNews.com

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…

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Bangkok Post

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.

Fortune

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.

Roll Call

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.

The Independent UK

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

Evening Standard

US inflation rate fell to 6.4% last month

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

WEKU

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.

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