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The Latest Breaking News from Jerome Powell

The Fed faces new political pressure as economy slows

A new op-ed from Senator Warren is a sign of the political risks ahead.

Axios

Fed set to impose another big rate hike to fight inflation

Conflicting signs about the health of the U.S. economy have thrust the Federal Reserve into a difficult spot

The Independent UK

The Fed's mission improbable: Beating inflation without causing a recession

Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.

WEKU

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

Manchin in driver’s seat again after inflation fears vindicated

WASHINGTON — Nearly a year ago, Sen. Joe Manchin wrote Fed Chair Jerome Powell to raise alarm that the central bank’s policies would overheat the economy, a fixation that made the West Virginia Democrat an outlier in his party.

Tribune News Service

Fed ethics inquiry clears Powell and Clarida trades

The Federal Reserve’s inspector general concluded that financial trades made several years ago by Chair Jerome Powell and Richard Clarida, then the vice chair, did not violate any laws or ethics rules

The Independent UK

Economists: More rate hikes won't help

After June's inflation numbers, the Fed is likely to push rates higher — at the risk of sparking a recession

Salon

EXPLAINER: Why US inflation is so high, and when it may ease

Inflation’s relentless surge didn’t merely persist in June

The Independent UK

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Surging gas prices likely drove US inflation to 40-year high

U.S. inflation likely reached a new 40-year high in June, driven up by a spike in gas costs, more expensive food and rent, and pricier cars and hotel rooms

The Independent UK

The Fed risks looking backwards on inflation

This focus on inflation in the recent past could mean ignoring signs that inflation is already on track to come down.

Axios

For Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s

Federal Reserve chairman Jerome Powell is raising interest rates at the fastest pace since the 1980s. That has been easy so far because rates are low and the economy has been strong.

Bangkok Post

Scott Burns: The consumer price index tells us nothing useful about housing inflation

In a masterpiece of understatement, Jerome Powell, chairman of the Federal Reserve, recently said: “I would say if you’re a homebuyer, or a young person looking to buy a home, you need a bit of a reset.”

Tribune News Service

US hiring was likely solid in June despite recession fears

U.S. employers likely downshifted their pace of hiring in June, but to a level that remains solid despite heightened fears that the economy faces the growing risk of a recession

The Independent UK

Michael Hiltzik: You may not have noticed yet, but inflation has started to come down

For fans of code-breaking, Thursday morning’s Wall Street Journal home page provided plenty of material to perplex and entertain.

Los Angeles Times

Long, moderate and painful: What next US recession may look like

Recessions, like unhappy families, are each painful in their own way.

Tribune News Service

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Reason

California Accidentally Leaked the Personal Data of Thousands of Licensed Gun Owners

Plus: America's falling murder clearance rate, the Fed wrestles with inflation, and more...

WEKU

It's been a vicious 6 months for stocks. Here's what the grim markets are signaling

All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.

Chicago Sun-Times

Federal Reserve chair Jerome Powell: ‘No guarantee’ Fed can tame inflation, spare jobs

Though economists worry that higher interest rates could push the nation into a recession, the Fed chair pointed to a strong labor market and said most households and businesses have healthy savings.

The Guardian - UK

UK will face worse inflation than other major economies, says Bank governor

Andrew Bailey said inflation would persist for longer than previously expected as petrol prices soar

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The Independent UK

Powell: 'No guarantee' Fed can tame inflation, spare jobs

Federal Reserve Chair Jerome Powell said there’s “no guarantee″ the central bank can tame runaway inflation without hurting the job market

WEKU

Job cuts are rolling in. Here's who is feeling the most pain so far

Tesla, JPMorgan, Netflix, Redfin and Coinbase are among companies that are cutting jobs. While layoffs are contained to the hottest parts of the economy, there's fear they could spread elsewhere.

The Independent UK

Asian shares track Wall St drop as inflation fears drag on

Shares have retreated in Asia after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession

The Independent UK

Europe's central bank ready to 'stamp out' surging inflation

The head of the European Central Bank says it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out” inflation if it surges faster than expected

Benzinga

The Fed to Pivot as Early as Q3 22?

Past Fed Chair Paul Volker has been invoked in countless discussions surrounding monetary policy these days. Many are wondering if current Chair Jerome Powell will have the resolve to exact the Volcker-style rate hikes necessary to combat inflation. Macroeconomic expert Luke Gromen believes that this is more about math than…

Asharq Al-Awsat

Central Bank Chiefs Meet to Discuss Inflation Challenge

Central bank chiefs and economists gather Monday evening at their annual forum in southern Portugal to discuss the best approach to the inflationary challenges exacerbated by Russia's invasion of Ukraine. Some 200 delegates will attend the ECB Forum on Central Banking at a luxury hotel in Sintra, west of Lisbon,…

The Guardian - UK

History turns full circle as G7 alarm bells ring over energy once again

First meeting in 1975 grappled with the oil shock – now it is Russia’s war in Ukraine creating angst

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