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The Latest Breaking News from Jerome Powell

US Fed Likely To Remain On Pause And Pare Back Rate Cut Expectations

The US Federal Reserve is likely to keep interest rates unchanged this week, but could pare back the number of cuts it has penciled in for this year, as policymakers digest a mixed bag of economic data.

International Business Times

Dow Jones Futures Fall; Apple AI Push, Fed Rate Outlook Lead 8 Big Market Events

The stock market is at highs with Apple's AI push, the Fed rate "dot-plot" and the Tesla shareholder meeting headlining key events and news.

Investors Business Daily

The jobs report will ‘lead to continued controversy,’ leaving Jerome Powell in wait-and-see mode and dashing investor hopes for imminent rate cuts

ZipRecruiter’s chief economist says the latest jobs report “delivers a kind of hazy, mixed picture” that will leave the Fed—and investors—guessing.

Fortune

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US Unemployment Rate Hits 4%, Fed Not Concerned

US jobs report reveals 4% unemployment rate, surprising economists. Federal Reserve Chair Powell downplays impact on monetary policy.

Top News

Asian Markets Swing As Traders Eye Major US Jobs Report

Asian markets fluctuated Friday and investors trod cautiously ahead of US jobs data that could play a key role in the Federal Reserve's plans for cutting interest rates, with the bank's next policy decision looming next week.

International Business Times

Real estate billionaire Barry Sternlicht says rents will rise in two years—and it’s Jerome Powell’s fault

“This is my problem with Powell,” Sternlicht said. “His policy has now crushed multifamily starts; we need houses.”

Fortune

Jerome Powell could spark a serious stock market surge—even without cutting rates, Wall Street guru Ed Yardeni says

Yardeni already sees a 20% chance of a “melt-up” for the stock market, but if Powell “sings a dovish tune," he promised to raise those odds.

Fortune

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Wall Street's role in climate change

Many big banks try to present a green image, but the largest banks in the world are the ones abetting polluters

Salon

Jerome Powell's Federal Reserve is stuck in a self-defeating paradox that makes cutting rates more difficult, economist warns

"You can call this the Fed Cut Reflexivity Paradox: The more the Fed insists that the next move in interest rates is a cut, the more financial conditions will ease, making it more difficult for the Fed to cut."

Fortune

The Fed doesn't want to talk about stagflation. It might not have a choice.

Fed Chairman Powell says he doesn't see stagflation risks. Not everyone agrees.

The Street

Apollo's chief economist defies Fed’s hawkish pivot; no rate hikes this year despite ‘dramatic turnaround’

Yet Federal Reserve Bank of Minneapolis President Neel Kashkari recently refused to rule out interest rate hikes.

Fortune

Cleveland Fed names former Goldman Sachs executive Beth Hammack to succeed Mester as president

The Cleveland branch of the Federal Reserve says that Beth Hammack, an executive at investment bank Goldman Sachs, would be its next president effective Aug. 21

The Independent UK

Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause

Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation

The Independent UK

Goldman Sachs shifts interest-rate outlook ahead of key inflation report

The April PCE price index is scheduled for Friday.

The Street

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Fortune

BlackRock’s bond guru Rick Rieder says the Fed’s favorite inflation firefighting strategy is failing—‘the private sector has become a creditor now’

“It’s ambiguous to me today, at best, whether a higher [interest] rate helps bring down inflation versus actually contributes to it,” Rick Rieder told Fortune.

The Street

Stock Market Today: Nvidia soars, stocks edge lower on inflation risks

Stocks are set for another record-setting session following a blowout first-quarter earnings report from AI chipmaker Nvidia.

The Independent UK

Federal Reserve minutes: Policymakers saw a longer path to rate cuts

After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high

The Guardian - US

Jailed Trump adviser predicts mass deportations as second term priority

Peter Navarro says first acts of Trump presidency would be firing Fed chair and intensifying China trade war in prison interview

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Investors Business Daily

Stocks Mixed As Dow Closes Above 40,0000; GameStop Dives As Nvidia Faces Earnings Test

Stocks were mostly unchanged as investors await Nvidia earnings. Fed Chair Powell tested positive for Covid. GameStop fell on preliminary results.

The Independent UK

Federal Reserve Chair Jerome Powell working from home after testing positive for COVID-19

Federal Reserve Chair Jerome Powell has tested positive for COVID-19 and is experiencing symptoms

The Street

Analyst updates S&P 500 price target after CPI inflation surprise

Stocks are trading at all-time highs as investors see light at the end of a long inflation tunnel.

WEKU

Egg and milk prices fall, fueling hope for interest rate cuts

Inflation eased last month, according to a report Wednesday from the Labor Department, which means people feeling stretched by high prices and high borrowing costs could feel a little relief soon.

Barchart

S&P Futures Higher After April CPI is Released

June S&P 500 E-Mini futures (ESM24) are trending up +0.45% this morning after April's CPI report was released.

The Street

Stock Market Today: S&P 500 eyes record high on slowing inflation data

The S&P 500 opened at a fresh all-time high following a softer-than-expected April inflation report.

Barchart

S&P Futures Tread Water Ahead of U.S. Inflation Data

June S&P 500 E-Mini futures (ESM24) are trending up +0.02% this morning as market participants awaited the all-important U.S. consumer inflation report that will likely shape the outlook for Federal Reserve policy.

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