The Latest Breaking News from Jerome Powell

Federal Reserve hawks argue that cutting rates further right now would be a mistake.

Powell said companies are “making money in building [data centers]—it’s not about 25 basis points here or there.”

The US Federal Reserve and the Bank of Canada have both cut their benchmark interest rates by 0.25% to stimulate economic activity amid ongoing challenges.

Wall Street saw a cautious tone on Thursday as major tech-heavy indexes edged lower, weighed down by mixed earnings from the mega-caps and the lingering impact of hawkish remarks from Fed Chair Jerome Powell the day before.

WPP plunged 17% as it warned performance in the year-to-date was at the ‘low-end of expectations’ as it cut the company’s outlook.

Powell said the Fed is walking a tightrope as AI-fueled investment props up growth but erodes hiring.

Federal Reserve chair Jerome Powell this week acknowledged "strongly differing views" on the committee about a December rate cut.

Bitcoin (CRYPTO: BTC) is trading below $108,000 after the Federal Reserve's 25-basis-point rate cut failed to lift markets, with charts pointing to deeper losses.

Fed Chair Jerome Powell firmly pushed back against market expectations for a December rate cut on Wednesday, cautioning that it's more prudent to slow down when visibility is low—yet his remarks only modestly dented investor optimism, with traders still essentially betting on another move by the end of the year.

Plus: "Freeze the rent" hypocrisy, B-52s near Caracas, the Armani class votes Mamdani, and more...

The market declined to demonstrate irrational exuberance despite upbeat remarks from the Fed.