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The Latest Breaking News from Jerome Powell

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

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

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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

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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

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.

Tribune News Service

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.

Fortune

Economic tailwind from flush states

State and local governments are swimming in cash.

Axios

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…

StockNews.com

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.

Bangkok Post

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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

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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.

The Guardian - US

US inflation eases again for seventh consecutive month

Falling prices are welcome news, but latest reading is still far higher than the Federal Reserve’s annual target rate of 2% inflation

The Independent UK

US inflation likely eased again last month if more gradually

U.S. inflation likely slowed again last month in the latest sign that consumer price increases are becoming less of a burden on America’s households

Fortune

Larry Summers warns now is not the time for investor ‘euphoria’—markets are headed for a ‘turbulent period’

“I think the consensus has become substantially too complacent about inflation,” the former Treasury Secretary told Bloomberg Friday.

Tribune News Service

Bill Dudley: Will the Fed go longer or higher? Maybe both

How will the US Federal Reserve wage its battle with inflation — by keeping interest rates elevated for longer, or by taking them even higher? Investors are fixated on this question, which has vast implications for bonds, stocks and the entire economy.

The Independent UK

Asian stocks slide ahead of US inflation update

Asian stock markets are lower ahead of a U.S. inflation update that traders worry might lead to more interest rate hikes

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