The Latest Breaking News from Jerome Powell

The Federal Reserve chairman has admitted that at least 2 million people could lose their jobs if interest rates keep rising

Can a divided Congress manage to pass legislation?

Oil prices fell for a second straight session on Wednesday, driven by fears that more aggressive US interest rate hikes would hit demand, while the market awaited further clarity on inventories. Brent crude futures dipped 22 cents, or 0.3%, to $83.07 per barrel by 0730 GMT.

MPC member Swati Dhingra warns against that overtightening monetary policy could harm weak economy

Asian shares are mostly lower as investors fret that the Federal Reserve might raise interest rates faster if pressure stays high on inflation

Hong Kong (AFP) - Markets sank Wednesday, the dollar held big gains and oil struggled to recover from hefty losses after Federal Reserve boss Jerome Powell opened the door to a quicker pace of interest rate hikes as officials battle to tame inflation.

​WASHINGTON — ​Economists at Moody’s Analytics estimate that the Treasury Department will run out of borrowing room by mid-August if Congress doesn’t act to raise or suspend the statutory debt limit by then.

OPEC Secretary General Haitham Al Ghais said energy industry needs more investment to meet growing demand soon.

It really shouldn’t be this way, and it doesn’t need to be. Yet once again remarks by Federal Reserve Chair Jerome Powell fueled considerable volatility in markets that could risk both economic well-being and financial stability. It’s a phenomenon that not only highlights repeated policy slippages but also the lack…