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The Latest Breaking News from Jerome Powell

US prices rise in September as midterm elections loom

Inflation rate stubbornness will likely spark a further increase to interest rates which could come in early November

The Guardian - US

Treasurer Jim Chalmers warns of US recession prior to meeting with G20 counterparts

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.

ABC News

The Fed Is Skating To Where The Puck Was: Comparisons To Volcker's 1980s Inflation Are 'Conceptually Wrong,' Says This Economist

Unbeknownst to many, the gift for the 43rd anniversary of marriage is entertainment; to stretch it further, this fall marks the 43rd anniversary of a pivotal event in the history of the Federal Reserve and the U.S. economy.

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

What Does Prophetic Paul Tudor Jones Have To Say About Economic Future

Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession.

Zenger

Paul Tudor Jones Correctly Predicted The 1987 Stock Market Crash: Here's What The Billionaire Hedge Fund Manager Says Is Coming Next

Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession.

Benzinga

When your seatmate on the plane talks about the Fed, you know things aren't right

The woman next to me, who described herself as knowing "zero" about the economy, asked whether I thought the Federal Reserve would continue raising interest rates. I felt an acute sense of dread.

WEKU

Don’t be fooled: policymakers are quietly invoking austerity by other names

Framing monetary policy as a war effort has been part of the playbook for instituting austerity policies for over a century

The Guardian - US

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US hiring likely slowed last month (which may be good news)

The piping-hot U.S. job market may be cooling off, if only slightly

The Independent UK

Friday's Jobs Number Could Move Markets: What You Need To Know

A potentially pivotal economic indicator is coming Friday via a monthly jobs report. Here's what you need to know ahead of the number.

Benzinga

Home prices decelerating by record amount, according to new report

Could housing prices finally be coming back down to earth? Year-over-year home-price growth decelerated at a record-setting pace in July 2022. S&P CoreLogic’s latest Case-Shiller U.S. National Home Price NSA Index, released September 27, reports that price growth dropped by 2.3% from June to July — from 18.1% to 15.8%.

Tribune News Service

'The Federal Reserve is doing a bad job': Economist Steve Hanke

Federal Reserve Chair Jerome Powell says he won't cause a deep recession but that "pain" is necessary to fight inflation. To curb the largest price increases in four decades, the US Federal Reserve has been raising interest rates this year. "The Fed is doing a bad job because they don't…

France 24

Major Drop In US Job Openings, Will The Fed Now Pivot? Don't Bet On It

Global bonds and equities are rising in anticipation that the Federal Reserve will reconsider the aggressive tightening of monetary policy that some fear may contribute to the start of a global recession, but history says the Fed may do

Benzinga

Top US regulators say crypto poses financial stability risks

Top regulators are recommending a series of new safeguards to ensure that a growing and unregulated cryptocurrency market doesn’t imperil U.S. financial stability

The Independent UK

UN Says The Fed Can Stop Global Recession, But It Needs To Do This

The United Nations Conference on Trade and Development is calling on central banks in major economies to reverse course on raising interest rates, stating that it is leading the world into a global recession and prolonged stagnation.

Benzinga

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WEKU

A bad year for Wall Street gets even worse, as stock markets finish September down

Amid heightened uncertainty about the global economy, all three U.S. indexes are in a bear market as the third quarter comes to a close.

Tribune News Service

Ramesh Ponnuru: The moral case for higher interest rates

Federal Reserve Chair Jerome Powell’s efforts to cool down the economy are causing progressive criticism to heat up. He has been accused of wanting a “brutal” recession, trying to “throw millions of Americans out of work” and using “dangerous” rhetoric. And those are the comments of just one senator, Elizabeth…

Benzinga

The Fed's Preferred Inflation Number Is Coming Friday: PCE Preview

An important inflation reading for the Federal Reserve is coming Friday, with the Bureau of Economic Analysis set to release the Personal Consumption Expenditures (PCE) price index data for August.

The Independent UK

How do we know when a recession has begun? Looks for these signs

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

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The Independent UK

OLD EXPLAINER: How do we know when a recession has begun?

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

Benzinga

Surprise! Jobless Claims Fall To Lowest Levels Since April: What You Need To Know Now

U.S. initial jobless claims unexpectedly fell last week to the lowest levels since April, signaling the labor market remains resilient despite continued rate hikes from the Federal Reserve.

Tribune News Service

Peak oil has finally arrived. No, Really

I’ve rarely felt more trepidation about writing a column than this one. But here goes: After more than a century of almost continual growth, the world’s appetite for oil is peaking, and will soon enter terminal decline.

WEKU

Memories of the 1970s haunt the Fed, pushing its aggressive rate moves

The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.

WEKU

Financial markets are a mess around the world. Fingers are pointing at the Fed

Customarily, the Fed and other central banks do as much as they can to keep markets calm. This time they're the reason behind the volatility.

Al Jazeera

Is a global recession coming? More experts are raising the alarm

Figures including the head of World Trade Organization and Paul Krugman are expressing concern about economic outlook.

Benzinga

Bitcoin, Ethereum, Dogecoin Slip: Analyst Says Apex Crypto's Stabilization 'A Welcome Sign' Despite Lack Of Catalyst

The two largest coins were in the red Tuesday evening, as the global cryptocurrency market cap slipped 0.6% to $933 billion at 8:12 p.m. EDT.

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