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The Latest Breaking News from Jerome Powell

An inflation gauge tracked by the Fed slows to still-high 6%

A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices

The Independent UK

1 ETF to Buy Before the End of the Year and 1 to Sell

Fed Chair Jerome Powell has assured a slowdown in rate hikes might commence in December. Benchmark indices gained substantially over the Fed Chair's comments. Moreover, broader market gains from a Santa Claus rally are expected. Therefore, investors could consider buying the quality ETF Invesco Senior Loan (BKLN) before the end…

StockNews.com

FTSE 100 Live: House prices down, Next lays off 133 staff after buying collapsed retailer Joules

Collapsed country fashion brand Joules is set to be bought up by retail rival Next. Joules was set to appoint administrators last month after failing to agree a financing deal to rescue the business, putting around 1,600 jobs at risk.

Evening Standard

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Asian shares gain after Fed chair signals slower rate hikes

Shares have advanced in Asia after a rally on Wall Street spurred by the chair of the Federal Reserve's comments on easing the pace of interest rate hikes to tame inflation

The Independent UK

Dow climbs 20% from low as stocks rally and inflation fears ebb

U.S. stocks surged on Wednesday, putting the blue-chip Dow Jones Industrial Average more than 20% above its September low after Federal Reserve Chair Jerome Powell’s dovish comments and signs of cooling U.S. inflation raised hopes that the central bank will become less aggressive on interest-rates hikes.

Tribune News Service

ASX jumps to seven-month high as Wall Street rallies after US Fed eyes slower rate hikes

Australian shares rally, tracking overnight Wall Street gains after the US Federal Reserve chairman said the central bank could slow its pace of interest rate hikes "as soon as December".

ABC News

Elon Musk just accused the Fed of ‘massively amplifying’ the risk of a severe recession

The Tesla and Twitter CEO has suffered major stock dips this year, but there’s little chance of a Fed pivot.

Fortune

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Federal Reserve to slow interest rate rises as it tackles 40-year inflation high

Jerome Powell warned there ‘was more ground to cover’ and rates would stay higher for an extended period

The Guardian - US

Fed chair Powell: No "clear progress" toward lower inflation

"We have more ground to cover," Powell said on Wednesday.

Axios

Powell: Fed to keep rates higher for longer to cut inflation

Fed Chair Jerome Powell says the Federal Reserve will push rates higher than previously expected and keep them there longer to fight a stubborn bout of inflation

The Independent UK

The bad news: 2023 is likely to be even crazier. The good news: Tough times make leaders and businesses better

Fortune's conversations with top CEOs share a common thread: Major crises make leaders more resilient.

Fortune

CFOs are pulling out their recession playbooks. But persistent inflation is still a worry

“We've been operating at near recessionary production levels for the last three years,” American Axle CFO Christopher May said.

Fortune

Markets at new peak: Sensex hits 63,000-mark for first time; Nifty ends at fresh lifetime high

NEW DELHI: Equity indices surged for the 7th straight session on Wednesday to scale new lifetime highs.

The Times of India

Asian shares mostly higher ahead of Fed chair's key speech

Asian shares are mostly higher ahead of a closely watched speech by the Federal Reserve chief that may give clues about future interest rate hikes

The Independent UK

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Fortune

Fed's housing market 'reset' has officially set off the second-biggest home price correction of the post-WWII era

According to the latest Case-Shiller report, U.S. home prices fell another 0.8% in September.

ABC News

ASX rises, AUSTRAC takes Star to court, Black Friday and Cyber Monday sales top $7 billion

Australian shares have closed higher as the October's consumer price index (CPI) shows inflation is easing.

Fortune

Where home prices are headed in 2023—this map shows CoreLogic's revised outlook for 392 housing markets

The question isn’t if U.S. home prices will fall, it’s how far will prices fall.

Fortune

Billionaire investor Barry Sternlicht used to think Jerome Powell’s Fed would threaten capitalism—now he calls its rate hikes ‘suicide’

The Fed doesn’t appear to understand the ramifications of what they’re doing,” Sternlicht said.

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The Independent UK

Fed Vice Chair Brainard is 'reassured' by inflation report

Federal Reserve Vice Chair Lael Brainard said she was encouraged by last week’s U.S. inflation report, which pointed to slower price increases, and said the Fed would likely soon reduce the size of its interest rate hikes

StockNews.com

4 Overrated Stocks to Avoid Like the Plague

Once investor favorites DoorDash (DASH), Teladoc Health (TDOC), SoFi Technologies (SOFI), and ContextLogic (WISH) have fallen significantly due to their poor fundamentals and growth prospects amid the Fed’s aggressive interest rate hikes this year. With lingering recession fears, these stocks are expected to tumble further. Thus, it could be wise…

Fortune

Fed’s Waller warns inflation fight isn’t over, interest rates will ‘keep going up’ despite prices cooling by more than expected

“We’ve still got a ways to go,” warned Federal Reserve Governor Christopher Waller.

Fortune

The Pandemic Housing Bubble is bursting, says KPMG

"Once you start the process of prices falling nationally, there is a self-fulfilling momentum to it because no one wants to catch a falling knife" says Diane Swonk, chief economist at KPMG.

The Guardian - UK

Slowing US inflation rate raises hopes cost of living crisis may have peaked

Pound surges and stock markets rebound as US consumer price index drops from 8.2% to 7.7% in October

Benzinga

October Inflation Cools To 7.7%, Stocks Sprint Higher: What You Need To Know

The SPDR S&P 500 (NYSE: SPY) is moving higher Thursday morning after the Labor Department reported a 7.7% year-over-year increase in the consumer price index for October.

StockNews.com

3 ETFs to Avoid for Long-Term Investing

The Fed’s aggressive monetary policy stance is expected to fuel a recession next year. While the stock market is expected to remain under pressure in the upcoming months, the recession could have long-term consequences for fixed-income securities, precious metals, and companies working on disruptive innovations. Therefore, long-term investors should avoid…

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