Get all your news in one place.

100's of premium titles.
One app.

Get all your news in one place.

100's of premium titles. One news app.

The Latest Breaking News from Jerome Powell

ASX rally fizzles out as US Federal Reserve hikes key interest rate, and Australian dollar surges above 70 US cents

Australian stocks lose their gains despite a rise on Wall Street after the US Federal Reserve increased official interest rates — from between 0.75pc and 1pc to between 1.5pc and 1.75pc — to curb surging inflation, with the move seeing US stocks rally. And the national unemployment rate stayed steady…

ABC News

‘Slamming on the brakes’: economists react to the Federal Reserve’s rate hike

Some economists say it will take an economic contraction and higher unemployment to bring inflation down

The Guardian - US

Fed Chair Powell: Another 0.75% Rate Hike On The Table For July

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded higher in a volatile session on Wednesday following the Federal Reserve's largest interest rate hike since 1994.

Benzinga

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

Tough action on interest rates in the US. But how rattled is the US Federal Reserve?

Wall Street braces for rises in borrowing costs in July and September as 8.6% inflation spurs on central bank

The Guardian - UK

Fed hikes 75 basis points; Powell says 75 or 50 likely in July

The Federal Reserve raised interest rates by 75 basis points — the biggest increase since 1994 — and Chair Jerome Powell said officials could move by that much again next month or make a smaller half-point increase to get inflation under control.

Tribune News Service

Fed hikes rates 75 basis points, intensifying inflation fight

Federal Reserve officials raised their main interest rate by three-quarters of a percentage point — the biggest increase since 1994 — and signaled they will keep hiking aggressively this year, resorting to drastic measures to restrain the rampant inflation they failed to forecast.

Tribune News Service

Federal Reserve announces biggest interest rate hike since 1994

Fed confirms 0.75 percentage-point increase as Americans across country hit hard by rising prices and shortages of key items

The Guardian - US

Read news from The Economist, FT, and more,
with one subscription

Market Awaits Fed Rate Hike Decision: How Aggressive Will The FOMC Get Today?

The SPDR S&P 500 ETF Trust (NYSE: SPY) rebounded a bit from its early week downturn on Wednesday morning ahead of a critical Federal Open Market Committee interest rate decision at 2 p.m. ET.

Benzinga

Markets brace for sharpest rise in US interest rates in almost 30 years

Federal Reserve expected to increase cost of borrowing by 0.75 percentage points to curb rising inflation

The Guardian - UK

5 things to know about the Fed's biggest interest rate increase since 1994 and how it will affect you

The Federal Reserve on June 15, 2022, lifted interest rates by 0.75 percentage point, the third hike this year and the largest since 1994. The move is aimed at countering the fastest pace of inflation in over 40 years.

The Conversation

EXPLAINER: Recession fears grow. Just how high is the risk?

Inflation is at a 40-year high

The Independent UK

Stocks’ pandemic bull run ends with recession fear: Markets wrap

U.S. stocks entered a bear market, Treasury yields spiked to levels not seen in a decade and the dollar rallied as the fallout from a hot inflation reading continued to rattle global trading already shaken by worries the Federal Reserve will plunge the economy into a recession.

Tribune News Service

Hot inflation dims likelihood Fed can achieve 'soft landing'

For months, Chair Jerome Powell has held out hope that the Federal Reserve will be able to raise interest rates high enough to throttle rampant inflation without tipping the economy into recession

The Independent UK

Climate crisis is ‘battering our economy’ and driving inflation, new book says

Climatenomics lays out how ‘supply chain disruptions’ has become a euphemism for the effects of climate change

The Guardian - US

Get all your
news in one place.

100's of premium titles.
One news app.

Tribune News Service

Fed task gets tougher, putting 75 basis point hike back in view

Bad news on inflation hardened expectations the Federal Reserve will keep raising interest rates in half-point steps through September, with talk of an even larger move mounting in the conversation.

Tribune News Service

June Fed meeting preview: Brace for fastest rate hikes since 1994 to battle too-high inflation

Economists like to say interest rates take the elevator down and the staircase back up. The metaphor highlights just how swiftly the Federal Reserve slashes borrowing costs during economic crises — and how gradually the Fed lifts rates when the economy is healing.

The Independent UK

Senate panel backs Michael Barr, Biden pick as Fed regulator

The nomination of Michael Barr, President Joe Biden’s choice to be the top regulator on the Federal Reserve’s Board of Governors, was approved by a congressional committee and sent on the full Senate

The Independent UK

Yellen: inflation to 'remain high;' hopes it's 'coming down'

Treasury Secretary Janet Yellen has acknowledged that she and Federal Reserve Chair Jerome Powell “could have used a better word” than transitory when describing the expected run of inflation in the U.S. economy

Get all your
news in one place.

100's of premium titles.
One news app.

Bangkok Post

May Jobs Report Keeps Fed on Track for Half-Point Rate Rises

The strong employment figures released Friday keep the Federal Reserve firmly on track to raise interest rates by a half-percentage point at its meeting in two weeks and again in late July to cool high inflation.

The Guardian - US

To avoid ‘historic shellacking’ in midterms, Biden is promoting a sunny view of US economy

Much of America does not seem to be buying the optimistic vision that Biden and his team are selling

The Independent UK

Hiring might have slipped last month to a still-strong level

After months of robust hiring, U.S. employers might have pulled back slightly in May, to levels that would still be consistent with a healthy job market, despite high inflation and rising borrowing costs

WEKU

Treasury Secretary Janet Yellen says she was wrong about the risks of inflation

Treasury Secretary Janet Yellen tells CNN she was wrong about the trajectory of inflation during interviews a year ago.

The Independent UK

Asian shares mixed after stocks retreat on Wall Street

Shares are mixed in Asia after a wobbly day on Wall Street closed out a month buffeted by worries about a possible recession, inflation and rising interest rates

Axios

Treasury Secretary Janet Yellen: "I was wrong about the path inflation would take"

"There have been unanticipated and large shocks to the economy that have boosted energy and food prices," she told CNN.

Al Jazeera

Biden underscores Fed’s ‘independence’ during Powell meeting

The White House is in need of solutions to quell the highest inflation in 40 years and soaring petrol and food prices.

1 … 128 129 130 131

People

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

Organisations

Cook Political Report

23 stories

ARP

20 stories

Read news from The Economist, FT, and more,
with one subscription

Topics

Places

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.