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The Latest Breaking News from Jerome Powell

UK house price growth slowest since mid-2020; manufacturing contracts for sixth month in a row – as it happened

UK annual house price growth slows to 1.1%; investors await US Federal Reserve message on whether it will tighten monetary policy further

The Guardian - UK · Feb 1, 2023

Powell likely to stress Fed's inflation fight far from over

Inflation is cooling, and parts of the economy appear to be weakening

The Independent UK · Feb 1, 2023

US labor costs trail forecasts, adding to slower inflation signs

U.S. employment costs rose at a slower-than-expected pace in the closing months of 2022, adding to signs of moderating inflation that reinforces the case for a smaller interest-rate increase by the Federal Reserve this week.

Tribune News Service · Jan 31, 2023

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US workers' pay slowed in the final quarter of 2022

Pay and benefits for America’s workers grew at a healthy but more gradual pace in the final three months of 2022, the third straight slowdown that could help reassure the Federal Reserve that wage gains won’t fuel higher inflation

The Independent UK · Jan 31, 2023

A Fed economist says the Fed is making inequality worse with its interest rate hikes

“Tighter policy…appears to prevent many lower-income families from buying homes,” Fed economist Daniel Ringo explains in a new working paper.

Fortune · Jan 27, 2023

3 Key Points to Watch in Today’s Market

Every Friday, Steve Reitmeister (Reity) and I sit down to chat about the week and how we're feeling about the stock market (SPY). Normally, the two of us are pretty in sync -- we've both been pretty bearish for months. However last week, it looked like that was starting to…

StockNews.com · Jan 21, 2023

Larry Summers says the economy is looking good—but a potential pitfall for the Fed could still be the 'greatest tragedy'

It's been all good economic news in recent weeks, but the former Treasury secretary warns the final stretch to fight inflation might be the hardest.

Fortune · Jan 20, 2023

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Bullish Vs. Bearish Stock Market...

"Are you actually bullish now?". That was the question I got from StockNews CEO Steve Reitmeister late last week after I published my commentary for my POWR Stocks Under $10 newsletter. Even though he and I differ about our respective stock market (SPY) outlooks from time to time, I think…

StockNews.com · Jan 19, 2023

Even Larry Summers thinks we might avoid a recession after months of gloomy predictions: 'Soft landings are a triumph of hope over experience, but sometimes hope does triumph'

Former Treasury Secretary Larry Summers said in September that there was a 75% chance of a U.S. recession. But after the latest inflation data, he says he's a little more hopeful.

Fortune · Jan 18, 2023

Fed's Powell tests positive for COVID, has 'mild' symptoms

Federal Reserve Chair Jerome Powell has tested positive for COVID-19 and is experiencing “mild symptoms,” the Federal Reserve announced

The Independent UK · Jan 18, 2023

There is no US labor shortage. That’s a myth

There is, however, a shortage of jobs paying sufficient wages to attract workers to fill job openings

The Guardian - US · Jan 15, 2023

US rate of inflation falls to 6.5 per cent

Drop from 7.1% in November raises hopes that the worst of the inflation storm could be over

Evening Standard · Jan 12, 2023

The Fed’s ongoing housing market ‘reset’ sees buyer cancellation rate at one of the nation’s largest homebuilders spike to 68%

KB Home announced that its buyer cancellation rate in the fourth quarter of 2022 spiked to 68%. That's up from 13% in the fourth quarter of 2022.

Fortune · Jan 12, 2023

What is ‘supercore’ inflation? Economists are obsessing over a narrow slice of price data

Economists think excluding sectors like housing gives a better idea of what’s really happening with inflation.

Fortune · Jan 12, 2023

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ABC News · Jan 10, 2023

ASX gains despite higher inflation, job-vacancies dip, and World Bank warns of looming recession — as it happened

The cost of living continues to climb and employers are still scrambling to find workers, but the Australian share market has jumped 1 per cent thanks to big miners and a rise on Wall Street.

Tribune News Service · Jan 10, 2023

Powell vows to limit Fed’s climate role to protect independence

Federal Reserve Chair Jerome Powell sought to draw a line around how far the central bank will use its powers to promote a greener economy, vowing it will not be a climate regulator.

Axios · Jan 10, 2023

Federal Reserve chair Jerome Powell says central bank will not be a "climate policymaker"

The comments were part of a larger speech on the importance of an apolitical Fed.

The Independent UK · Jan 10, 2023

Powell: Fed has only narrow role to play on climate change

The Federal Reserve has a limited role to play combating climate change, Chair Jerome Powell said Tuesday, a stance that puts him at odds with environmental activists who have pushed central banks to take steps to limit lending to energy companies

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Fortune · Jan 10, 2023

A 1981-level mortgage rate shock has the housing market in a correction—these 7 leading research firms predict what's next for rates

There are only three levers that can depressurize affordability: Rising incomes, falling home prices, and falling mortgage rates.

Fortune · Jan 9, 2023

America might just do the impossible and avoid a recession, according to top economist Mark Zandi

Moody’s chief economist says a “soft landing” for the U.S. economy is in the cards. But BlackRock’s Rick Rieder warns, “Policymakers’ ability to stick this landing for the economy and markets is still very much up in the air.”

The Independent UK · Jan 6, 2023

Another strong month of hiring would put Fed in tough spot

The jobs report the government will issue Friday is expected to show that December was another healthy month for hiring — a boon for those looking for work but a problem for the Federal Reserve if it persists

Fortune · Jan 5, 2023

U.S. inflation battle is not yet won, says top IMF official

The IMF's second-in-command is backing the Fed in its fight against inflation, advising Jerome Powell to "stay the course" with rate hikes.

Reason · Dec 29, 2022

Congress and the Federal Reserve Could Be Setting Us Up for Economic Disaster

If lawmakers keep spending like they are, and if the Fed backs down from taming inflation, then the government may create a perfect storm.

Chicago Tribune · Dec 29, 2022

Editorial: Economic downturns hurt Americans. They can kill Somalis

Federal Reserve Chair Jerome Powell kicked off the holiday season with another interest-rate increase. He also lit the fuse for a sell-off in the stock market by telling the world, “We have more work to do,” signaling additional rate hikes in 2023. A year-end “Santa Claus Rally” could still materialize,…

Fortune · Dec 28, 2022

We're in the second biggest home price correction of the post-WWII era—here's the latest data

The Fed’s “difficult [housing] correction” has seen the U.S. housing market flip from inflation mode to deflation mode.

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