The Latest Breaking News from Jerome Powell

Key inflation gauge cools, US consumer spending misses forecasts

The Federal Reserve’s preferred inflation measures eased in November while consumer spending stagnated, suggesting the central bank’s interest-rate hikes are helping to cool both price pressures and broader demand — with more tightening on the way.

Tribune News Service · Dec 23, 2022

Top economist Mohamed El-Erian says there’s a ‘new definition’ for a soft landing and argues ‘we can’t avoid a recession’

Americans may have to accept higher inflation, or face a serious recession as the Federal Reserve raises interest rates to get to its 2% inflation target, El-Erian warns.

Fortune · Dec 21, 2022

Economists place 70% chance for US recession in 2023

Economists say there is a 7-in-10 likelihood that the U.S. economy will sink into a recession next year, slashing demand forecasts and trimming inflation projections in the wake of massive interest-rate hikes by the Federal Reserve.

Tribune News Service · Dec 20, 2022

US recession a growing fear as Fed plans to keep rates high

After scaling 40-year highs, inflation in the United States has been slowly easing since summer

The Independent UK · Dec 16, 2022

Asia tracks Wall Street decline

The Stock Exchange of Thailand (SET) and most Asian bourses sagged yesterday, tracking overnight declines on Wall Street, as the Federal Reserve reiterated that US interest rates next year will be higher than previous market estimates, raising fears of a recession.

Bangkok Post · Dec 15, 2022

5 takeaways from the front lines of the inflation fight

Inflation may be slowing, but prices are still climbing much faster than Americans are used to. The Federal Reserve's dramatic steps to bring it to heel appear to be working - somewhat.

WEKU · Dec 15, 2022

Federal Reserve slows pace of rate hikes, vows to fight on against inflation

The US central bank has raised its benchmark rate to its highest level in 15 years, although at a slower clip than previously. Federal Reserve Chair Jerome Powell argues that while inflation has dipped, it is still too high to warrant a change in monetary policy. Also on the show,…

France 24 · Dec 15, 2022

US Federal Reserve Raises Interest Rate, Highest since 2007

The US Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. The central bank boosted its benchmark rate a half-point to a range of 4.25% to 4.5% and projected it would continue rising to…

Asharq Al-Awsat · Dec 15, 2022

Asia stocks follow Wall St down as Fed warns of higher rates

Asian shares have skidded after a retreat on Wall Street as markets showed dismay over the Federal Reserve's warning that more interest rate hikes are in store following its latest increase

The Independent UK · Dec 15, 2022

Markets fall as Fed raises interest rate by half a point

Fed chair Jerome Powell signalled further pain was in store for the stock market as inflation remains stubbornly high

The Independent UK · Dec 14, 2022