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The Latest Breaking News from Jerome Powell

Asian stocks tumbled on Wednesday as regional currencies weakened following comments overnight by Federal Reserve chair Jerome Powell that raise the possibility the US central bank would resume large-scale interest rate hikes to tame sticky inflation.

Bangkok Post

Why Friday's Jobs Report Won't Save The S&P 500 From Fed Hawks

Could a more mild jobs report Friday avert a half-point Fed rate hike on March 22? It's doubtful. That's why the S&P 500 is in danger of losing key support.

Investors Business Daily

Stock Market Closes Mixed, Off Lows; Beige Book Data Shows Resilient Economy

The New York Fed's Beige Book showed widespread price pressures and a strong job market.

Investors Business Daily

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Fed Chairman Jerome Powell says a CBDC won't happen soon: 'We're not at the stage of making any real decisions'

President Joe Biden issued an executive order last year calling for more urgency and research on CBDCs.

Fortune

Powell softens tone and says March rate hike size is not yet decided

Federal Reserve Chair Jerome Powell softened his tone slightly during a second day of congressional testimony, saying policymakers will wait for fresh jobs and inflation data before deciding how much to raise interest rates later this month.

Tribune News Service

Powell says ‘no decision’ has been made on speeding up pace of rate hikes

Federal Reserve Chair Jerome Powell stressed that policymakers had not yet made up their minds on the size of their interest-rate increase later this month and said it would hinge on incoming data on jobs and inflation.

Tribune News Service

'It really shouldn't be this way': Top economist Mohamed El-Erian blames the Fed for bad messaging and stock volatility

Fed's Jerome Powell hinted in February that inflation hikes would slow because disinflation was underway. But on Tuesday, he seemed to backtrack.

Fortune

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Powell says 'no decision' on the Fed's next move on rates

Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank’s policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation

The Independent UK

Nasdaq Leads Stock Market As Indexes Improve At Midday; This Food Stock Plunges 27%

The Innovator IBD 50 ETF climbed 0.7%, easily outperforming the stock market.

Investors Business Daily

Stocks tread water after shock over Powell rate warning

London (AFP) - Stock markets sputtered on Wednesday after Federal Reserve chief Jerome Powell triggered a rout a day earlier by warning that higher interest rate hikes might be needed to tame stubborn inflation.

AFP

What Powell's Interest Rate Comments Mean for the Markets

Jerome Powell's testimony in front of the Senate Banking Committee threw markets into sell-off mode on Tuesday as investors digested the possibility of interest rates going higher than previously anticipated in order for the Federal Reserve to get inflation under control.

The Street

Forget The Fed: Stocks Will Slump Even If Jerome Powell Slays Inflation Beast

With Wall Street talking about a 6% Fed Funds rate, stocks are facing renewed Fed pressures. But a hawkish Powell isn't the market's only concern.

The Street

The US central bank is poised to cause untold hardship to millions of Americans

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

The Guardian - US

Lawmakers are trying to seize the crypto debate back

Can a divided Congress manage to pass legislation?

Fortune

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Investors Business Daily

Dow Jones Reverses Lower After Jobs Data, As Powell Speaks; Tesla Sells Off On Steering Wheel Investigation

The Dow Jones fell Wednesday on jobs data and ahead of comments from Fed Chair Powell. Tesla dropped on a detached steering wheel probe.

AFP

Stocks mostly drop, dollar gains on Powell rates warning

London (AFP) - Stock markets mainly fell Wednesday and the dollar held near multi-month highs after Federal Reserve boss Jerome Powell warned a quicker pace of interest rate hikes might be needed to tame stubbornly-high inflation.

The Street

Stocks Steady, Elon Musk Probe, Boeing Japan Deal, Adidas Dividend Cut, Warren Buffett Bet - Five Things To Know

Stock futures steady after hawkish Powell wipeout; Elon Musk, professional defendant; Boeing big in Japan?; Adidas sees red after going West and Buffett bets more on 'black gold'.

AFP

Asia, Europe track Wall St losses after Powell's rate hike warning

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.

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Asharq Al-Awsat

Oil Extends Declines on Rate Hike Concerns

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.

The Guardian - UK

Bank of England policymaker calls for interest rates to be held; RMT to hold vote on Network Rail pay offer – as it happened

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

The Independent UK

Asian stocks tumble amid fears about faster rate hikes

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

AFP

Asia tracks Wall St losses after Powell's rate hike warning

Tribune News Service

Debt limit action needed by mid-August, analysts warn. Here are 5 possible scenarios

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.

The Street

Energy Industry Needs 'Significant' Investment, OPEC Secretary Says

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

Tribune News Service

Mohamed A. El-Erian: Powell’s comments unleash unsettling volatility

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…

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