The Latest Breaking News from Jerome Powell

The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell’s high-stakes efforts to curb the highest inflation in four decades

He is tasked with leading the central bank as it tries to battle surging inflation and financial markets in tumult..

After a year of soaring prices for gas, food and other necessities, inflation may have eased slightly in April from a 40-year high, the first slowdown after seven consecutive months of worsening price increases

WASHINGTON — The Senate voted Tuesday to confirm Lisa Cook as the first Black woman to join the Federal Reserve Board.

The Senate voted Tuesday to confirm Lisa Cook for the Federal Reserve Board. She will be the first Black woman on the board.

The Nasdaq Composite Index, the benchmark for technology stocks in the US, fell to its lowest level since November 2020 on Thursday, May 5, which can be attributed to a number of factors, including lacklustre earnings from e-commerce firms like eBay (NASDAQ: EBAY) and macro-economic factors like the Federal R

The Fed’s recent interest rate hike of 0.5% is the most significant in over 20 years. Chairman Jerome Powell expects several additional rate hikes through the end of 2022 and into 2023 amid the highest inflation the United States has seen since December 1981.

Inflation is at a 40-year high

Twenty-two Democratic members of Congress are urging the Federal Reserve Bank of Dallas to appoint the first Latino regional president to fill the top position that’s been vacant since October.