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The Latest Breaking News from Jerome Powell

Why Fed worries about the strongest US job market in decades

Chair Jerome Powell isn’t as pleased with the robust U.S. job market as you might think he’d be, and he and the Federal Reserve plan to do something about it: Take it down a notch

The Independent UK

This was the week the fed finally figured it out

Rates markets crossed two significant thresholds this week. One is that traders for the first time see the Federal Reserve raising its target interest rate by a half-percentage point in each of the next three meetings, in May, June and July, which would mark the biggest such increases since 2000.…

Tribune News Service

Asian shares decline after Fed chief's comments on inflation

Asian shares have mostly retreated, tracking losses on Wall Street after Federal Reserve Chair Jerome Powell indicated increases in interest rates must be faster to fight inflation

The Independent UK

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Bitcoin, Ethereum, Dogecoin Down As Fed's Powell Dials Up Hawkish Tone: Why Cryptos Could See A 'Strong Recovery'

Bitcoin traded above the psychologically important $40,000 mark even as the apex coin and other major peers were in the red over 24 hours leading up to Thursday night. The global cryptocurrency market cap shrank 2.6% to $1.9 trillion.

Benzinga

ASX drops, Wall Street stocks fall on Fed chair Jerome Powell's rate hike warning

Australian shares fell sharply, following losses on Wall Street as the chairman of the US Federal Reserve warned of aggressive interest rate hikes next month.

ABC News

Powell reinforces expectations of sharp rate hike next month

The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed’s next policy meeting in May

The Independent UK

Elon Musk secures $46.5bn as he prepares hostile bid for Twitter – as it happened

Tesla boss could take his takeover offer directly to shareholders, bypassing the Twitter board, as World Bank chief warns of ‘human catastrophe’ from food crisis

The Guardian - UK

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Yellen, Powell walk out of G20 meeting during Russian minister's speech

Yellen and Powell were joined by other delegates, including ECB head Christine Lagarde.

Axios

Who's Really To Blame for Inflation?

No matter how you slice it, no one person or policy is solely to blame for surging inflation.

Reason

Will Fighting Inflation in America Cause a Debt Crisis Abroad?

How the Fed Shapes the Global Economy

Foreign Affairs

Thiel blasts Dimon, Buffett and Fink as ‘finance gerontocracy’ at Bitcoin 2022

Billionaire entrepreneur Peter Thiel called Warren Buffett, Jamie Dimon and Larry Fink members of a “finance gerontocracy” opposed to a “revolutionary youth movement” that embraces Bitcoin.

Tribune News Service

Fed casting its inflation fight as battle against inequality

As the Federal Reserve intensifies its efforts to tame high inflation, its top officials are casting their aggressive drive in a new light: As a blow against economic inequality

The Independent UK

The Fed takes the red pill

The US Federal Reserve has finally acknowledged the reality of the inflation problem. The uncertainty raised by the Russia-Ukraine war did not stop it from raising rates at its March policy meeting, though it capped its first hike to just 25 basis points.

Bangkok Post

After Amazon workers’ union victory the Fed must stop tipping the scales for bosses

A post-Covid jobs recovery has strengthened workers’ hand – companies posting record profits don’t need government to slow the economy

The Guardian - US

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Reason

Biden Is Clueless About Inflation

The president's $5.8 trillion budget shows he wants more of the same government spending that is already sending prices through the roof.

The Independent UK

Fed's rate hikes threaten its goal of narrowing racial gaps

America’s hiring boom of the past year has narrowed racial disparities in unemployment

The Independent UK

US growth in Q4 revised lower to 6.9%, slower growth to come

The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates

Benzinga

Markets Have Another Strong Week As S&P 500 Erases Initial Losses From Russia-Ukraine War

U.S. indices finished mixed Friday to conclude the trading week. Oil prices gained during Friday's session, which has continued to pressure economic sentiment. The S&P 500 traded higher for the second week in a row and has now more than erased its initial losses following the Russian invasion of Ukraine.

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Benzinga

Sell Stocks And Raise Cash: Can The Market Overcome Putin And Powell?

After two consecutive weeks of gains, the SPDR S&P 500 ETF Trust (NYSE: SPY) has now erased its initial losses following the Russian invasion of Ukraine.

Benzinga

Economist Now Calling For Back-To-Back 0.5% Fed Interest Rate Hikes

The U.S. Federal Reserve raised its target Fed funds rate by 0.25% earlier this month, its first interest rate hike since 2018. The Fed's updated dot plot projections are calling for six more 0.25% rate hikes in 2022, but the latest comments from Fed Chair Jerome Powell suggest the Fed…

The Independent UK

Powell: Digital currencies will require new regulations

Federal Reserve Chair Jerome Powell said Wednesday that new forms of digital money such as cryptocurrencies and stablecoins present risks to the U.S. financial system and will require new rules to protect consumers

Evening Standard

City comment: Bank of England should take a leaf out of the Fed’s book on inflation

In 1979, with inflation at 11% and rising, newly appointed Federal Reserve chairman Paul Volcker called a surprise Saturday press conference in October to announce he was shaking up the central bank’s plans to get a handle on rising prices.

Benzinga

Economic Data Scheduled For Wednesday

The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET. Federal Reserve Chair Jerome Powell is set to speak at 8:00 a.m. ET. Data on new home sales for February will be released at 10:00 a.m. ET. After January's annual rate…

ABC News

ASX boosted by financials and technology stocks as investors prepare for more US interest rate rises

The ASX follows a good night on Wall Street as investors get ready for more interest rises by the US Federal Reserve after comments from US central bank officials. Energy traders warn of recession because of Ukraine war.

Benzinga

Bitcoin Rallies Overnight Despite Warnings From Powell

Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock

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