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The Latest Breaking News from Jerome Powell

Federal Reserve to slow interest rate rises as it tackles 40-year inflation high

Jerome Powell warned there ‘was more ground to cover’ and rates would stay higher for an extended period

The Guardian - US

Fed chair Powell: No "clear progress" toward lower inflation

"We have more ground to cover," Powell said on Wednesday.

Axios

Powell: Fed to keep rates higher for longer to cut inflation

Fed Chair Jerome Powell says the Federal Reserve will push rates higher than previously expected and keep them there longer to fight a stubborn bout of inflation

The Independent UK

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

The bad news: 2023 is likely to be even crazier. The good news: Tough times make leaders and businesses better

Fortune's conversations with top CEOs share a common thread: Major crises make leaders more resilient.

Fortune

CFOs are pulling out their recession playbooks. But persistent inflation is still a worry

“We've been operating at near recessionary production levels for the last three years,” American Axle CFO Christopher May said.

Fortune

Markets at new peak: Sensex hits 63,000-mark for first time; Nifty ends at fresh lifetime high

NEW DELHI: Equity indices surged for the 7th straight session on Wednesday to scale new lifetime highs.

The Times of India

Asian shares mostly higher ahead of Fed chair's key speech

Asian shares are mostly higher ahead of a closely watched speech by the Federal Reserve chief that may give clues about future interest rate hikes

The Independent UK

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Fed's housing market 'reset' has officially set off the second-biggest home price correction of the post-WWII era

According to the latest Case-Shiller report, U.S. home prices fell another 0.8% in September.

Fortune

ASX rises, AUSTRAC takes Star to court, Black Friday and Cyber Monday sales top $7 billion

Australian shares have closed higher as the October's consumer price index (CPI) shows inflation is easing.

ABC News

Where home prices are headed in 2023—this map shows CoreLogic's revised outlook for 392 housing markets

The question isn’t if U.S. home prices will fall, it’s how far will prices fall.

Fortune

Billionaire investor Barry Sternlicht used to think Jerome Powell’s Fed would threaten capitalism—now he calls its rate hikes ‘suicide’

The Fed doesn’t appear to understand the ramifications of what they’re doing,” Sternlicht said.

Fortune

Fed Vice Chair Brainard is 'reassured' by inflation report

Federal Reserve Vice Chair Lael Brainard said she was encouraged by last week’s U.S. inflation report, which pointed to slower price increases, and said the Fed would likely soon reduce the size of its interest rate hikes

The Independent UK

4 Overrated Stocks to Avoid Like the Plague

Once investor favorites DoorDash (DASH), Teladoc Health (TDOC), SoFi Technologies (SOFI), and ContextLogic (WISH) have fallen significantly due to their poor fundamentals and growth prospects amid the Fed’s aggressive interest rate hikes this year. With lingering recession fears, these stocks are expected to tumble further. Thus, it could be wise…

StockNews.com

Fed’s Waller warns inflation fight isn’t over, interest rates will ‘keep going up’ despite prices cooling by more than expected

“We’ve still got a ways to go,” warned Federal Reserve Governor Christopher Waller.

Fortune

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Fortune

The Pandemic Housing Bubble is bursting, says KPMG

"Once you start the process of prices falling nationally, there is a self-fulfilling momentum to it because no one wants to catch a falling knife" says Diane Swonk, chief economist at KPMG.

The Guardian - UK

Slowing US inflation rate raises hopes cost of living crisis may have peaked

Pound surges and stock markets rebound as US consumer price index drops from 8.2% to 7.7% in October

Benzinga

October Inflation Cools To 7.7%, Stocks Sprint Higher: What You Need To Know

The SPDR S&P 500 (NYSE: SPY) is moving higher Thursday morning after the Labor Department reported a 7.7% year-over-year increase in the consumer price index for October.

StockNews.com

3 ETFs to Avoid for Long-Term Investing

The Fed’s aggressive monetary policy stance is expected to fuel a recession next year. While the stock market is expected to remain under pressure in the upcoming months, the recession could have long-term consequences for fixed-income securities, precious metals, and companies working on disruptive innovations. Therefore, long-term investors should avoid…

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news in one place.

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Fortune

Nouriel Roubini says it's 'mission impossible' for the U.S. to avoid a recession

History tells us a recession is all but guaranteed next year, and Dr. Doom warns it could combine the worst of two big economic crises in past decades.

Fortune

The Fed is pushing the economy ‘quite unnecessarily’ into a recession, J.P. Morgan strategist says

A recession is likely next year, but it may have been avoidable.

Benzinga

CPI Shows Rents Are Rising, Zillow Forecasting Drop In 2023; Professor Says Fed's Powell Will 'See The Light'

While consumer price index data in 2022 has been showing rent prices accelerating, Zillow Group Inc.

The Guardian - US

We need serious public policy, not more printed money – the US economy is in tatters

Decades of bailouts have convinced some that the Fed will always come to the rescue – but this only papers over the fundamental flaws of the US economy

inkl Originals

The Weekly Wrap for Saturday, 5 November 2022

Let's check in on our cousins in the United States in the dying days of the 2022 midterm campaign. Both the House of Representatives and the Senate sit uncomfortably on a knife's edge.

The Independent UK

Fed's Kashkari: Jobs report shows why more rate hikes needed

The solid U.S. jobs report for October underscores why the Federal Reserve needs to keep raising interest rates higher than it had previously forecast to control inflation, says Neel Kashkari, president of the Federal Reserve Bank of Minneapolis

Tribune News Service

US jobs top forecasts, wages pick up in resilient labor market

U.S. employers added more jobs than expected in October while wages rose firmly, underscoring the resilience of the labor market despite the Federal Reserve’s aggressive efforts to cool it down.

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