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The Latest Breaking News from Jerome Powell

U.S. consumer confidence edged down in May as Americans’ view of their present and future prospects dimmed in the midst of persistent inflation

The Independent UK

Biden to meet Fed chair as inflation bites pocketbooks

President Joe Biden will meet Tuesday with Federal Reserve chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks

The Independent UK

Biden to meet with Powell to discuss economy as inflation bites

WASHINGTON — President Joe Biden will hold a rare Oval Office meeting on Tuesday with Federal Reserve Chair Jerome Powell amid the highest inflation in decades, which has angered Americans and hurt his standing with voters.

Tribune News Service

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Key inflation gauge slowed to still-high 6.3% over past year

An inflation gauge closely tracked by the Federal Reserve rose 6.3% in April from a year earlier, just below a four-decade high set in March and the first slowdown since November 2020

The Independent UK

Higher Interest Rates Raise Risk of Future Fed Losses

The Federal Reserve's plans to raise interest rates aggressively to combat high inflation could have an overlooked and uncomfortable side effect for the central bank: capital losses.

Bangkok Post

Biden adviser says US economy can withstand Fed inflation fight

White House economic adviser Brian Deese stopped short of ruling out a U.S. recession as the Federal Reserve combats inflation, saying the central bank needs space to do its job.

Tribune News Service

Jerome Powell is living rent free in my head

I planned to renovate my kitchen. Then the Fed started raising rates.

Axios

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Jerome Powell, Who Wildly Misjudged Inflation, Is Overwhelmingly Reconfirmed as Fed Chair

There is seldom any meaningful accountability for government incompetence.

Reason

What stagflation means and what Biden could do about it

High inflation tends to break out when economic growth is really roaring.

Axios

FTSE 100 slide as recession fears weigh on markets – as it happened

Rolling coverage of the latest economic and financial news, as European stocks drop after Wall Street’s worst day since 2020

The Guardian - UK

Biden's burdens grow: Sagging global economy adds to US woes

President Joe Biden embarks for Asia on Thursday facing a new risk for the economy at home: a global economic slowdown caused by Russia’s invasion of Ukraine and the pandemic shutting down Chinese cities and factories

The Independent UK

Dogecoin Daily: Price Heads Lower, Why You 'Shouldn't Send Your Coins' To Elon Musk And More

Dogecoin (CRYPTO: DOGE) traded 3.2% lower at $0.086 over 24 hours leading up to early Wednesday morning. DOGE slipped into the red alongside other major coins as the global cryptocurrency market cap declined 3.5% to $1.27 trillion.

Benzinga

Asia stocks mixed after Wall St gain, Powell warns on rates

Asian stock markets are mixed after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation

The Independent UK

Bitcoin, Ethereum, Dogecoin Gains Trail Stocks — Fed Chair Warns Of Pain Yet To Come In Fight Against Inflation

Bitcoin and other major digital coins were in the green at press time, as the global cryptocurrency market cap increased 2.7% to $1.3 trillion.

Benzinga

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Tribune News Service

Powell says Fed will ‘keep pushing’ until inflation comes down

Federal Reserve Chair Jerome Powell, in his most hawkish remarks to date, said the US central bank will raise interest rates until there is “clear and convincing” evidence that inflation is in retreat.

The Independent UK

Powell: Fed to keep hiking rates until it controls inflation

Chair Jerome Powell underscored the Federal Reserve’s determination to keep raising interest rates until it has brought inflation under control — a high-stakes effort that carries the risk of causing an eventual recession

Tribune News Service

Stocks roar back at end of nerve-racking week: Markets wrap

Stocks rallied at the end of a chaotic week in financial markets, with a little help from Federal Reserve Chair Jerome Powell’s reassurance that bigger rate hikes would be off the table for now even after the hot inflation readings of the past few days.

Tribune News Service

Crypto’s $270 billion meltdown gives way to an uneasy calm

Even by the white-knuckle standards of the cryptocurrency universe, it was a standout week.

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The Guardian - UK

Elon Musk ‘still committed’ to Twitter deal after putting it on hold – as it happened

Rolling coverage of the latest economic and financial news

The Independent UK

Asian shares bounce back, shrugging off inflation concerns

Asian shares have bounced back after losses earlier in the week, shrugging off the latest data showing U.S. wholesale prices soared 11% in April from a year earlier

The Independent UK

Powell: 'Soft' economic landing may be out of Fed's control

Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second four-year term, for the first time Thursday acknowledged that high inflation and economic weakness overseas could thwart his efforts to avoid a recession

Axios

Black economists make up only 1.5% of Federal Reserve staff

The numbers highlight the Fed's struggles with diversity.

Tribune News Service

Senate confirms Powell to second term as Fed chairman

Jerome Powell sailed through the Senate on Thursday with strong bipartisan support for a second term as chairman of the Federal Reserve Board.

The Independent UK

Senate confirms Powell for second term as Fed fights inflation

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

The Independent UK

Senate confirms Powell for 2nd term as Fed fights inflation

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