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The Latest Breaking News from Jerome Powell

Jerome Powell said his 2% inflation target was nonnegotiable. Jamie Dimon is skeptical it's even possible

"Does inflation really get back to 2%?" the Wall Street veteran asked.

Fortune

JPMorgan CEO Jamie Dimon is done psychoanalyzing Jerome Powell and the Fed

"Every day 325 million Americans go to work, go to their jobs, take care of their families, take care of their kids, build out their house, change a job. And it could be affected by the Fed changing rates by 50 base points? I don't think so."

Fortune

Top economist: More people are looking for a job, but not because they were laid off

The unemployment rate reflects the fact that the number of workers is growing, not that more people are losing their jobs.

Fortune

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Biden Administration Maintains Confidence In Healthy Economy Amid Market Volatility

Biden administration remains positive on economy despite market volatility. Powell's speech at Jackson Hole awaited for potential interest rate cuts.

Top News

It's not the Fed's job to make the market 'comfortable' says Fed president

Analysts holding out for the Fed to rescue the stock market might be waiting in vain

Fortune

The United States is not facing an imminent recession. This is nonsense

The American economy is still growing. There is no reason to panic, despite Trump’s ‘world war three’ comments

The Guardian - US

Stocks Rebound From Rout As Fed Faces Calls To Cut Rates Early

Tokyo, which suffered a record loss Monday, led the gains, soaring more than 10 percent as traders bought beaten-down stocks caught up in a catastrophic day for markets.

Latin Times

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Asian Stocks Rebound From Rout As Fed Faces Calls To Cut Rates Early

Asian equities rallied Tuesday after the previous day's global rout fuelled by US recession fears that have led to calls for the Federal Reserve to cut interest rates before its next meeting.

International Business Times

Fed Under Pressure To Cut Rates As Market Turmoil Continues

The ongoing global stock sell-off has fueled calls for the US Federal Reserve to lower interest rates swiftly and decisively, with some analysts now calling for it to make an emergency cut before its September rate decision.

International Business Times

Here's Why Stocks Are Selling Off And What Investors Can Do

Several factors are amplifying a global stock market rout. Here we look at why it's happening and what investors can do to protect their portfolios.

Kiplinger

Recession Is Not Inevitable, Despite Stock Market Slump

A few reasons to remain calm about the economy

Reason

Markets in Panic

Plus: Emhoff scandal, Iran and Hezbollah possibly striking Israel, Nirvana facts, and more...

Reason

Global Central Banks Begin To Trim Interest Rates

Global inflation rates are falling, prompting central banks to consider interest rate cuts. Federal Reserve in the US yet to act amidst market speculation.

Top News

Powell faces a market mutiny if he doesn't make a September rate cut—Wall Street has 'locked in' timings after unemployment concerns

"The bottom line is that the weaker-than-expected July employment report led us to change our baseline expectation for the first Fed to September."

Fortune

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Fortune

Weak jobs report shows 'there’s a strong case' for Fed rate cuts before next meeting, economist says

"From a risk management perspective we think there’s a strong case to act before September 18th."

The Independent UK

Unemployment rise spurs fears of slowdown, yet recession signals have been wrong — so far

A surprising rise in the unemployment rate last month has rattled financial markets and set off new worries about the threat of a recession — but it could also prove to be a false alarm

Fortune

This accurate recession indicator is flashing red, but the ‘Sahm rule’ creator says ‘this time really could be different’

“I am not concerned that, at this moment, we are in a recession,” Claudia Sahm told Fortune, adding that “no one should be in panic mode today, though it appears some might be.”

Top News

Senator Warren Criticizes Fed For Delayed Interest Rate Cuts

Senator Elizabeth Warren criticizes the Federal Reserve's delay in interest rate cuts, highlighting potential harm to the economy and job growth.

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Kiplinger

Weak July Jobs Report Signals Steep September Rate Cut: What the Experts Are Saying

A marked slowdown in hiring and rising unemployment means the Fed might have to make steep cuts to interest rates soon.

Top News

US Job Market Returns To Pre-Pandemic Levels, Says Federal Reserve

US job market shows signs of recovery post-pandemic with positive outlook from Federal Reserve Chair Powell.

Fortune

Wall Street wanted a September cut—instead it got a 'baby step' and stocks are hurting

"I am skeptical that the key economic data over the next seven weeks are going to add to the FOMC’s confidence."

Top News

Wall Street Reacts To Shifting Economic Landscape

Wall Street anticipates Fed rate cut, but concerns arise over job market support. Recent market turbulence attributed to various factors, including disappo...

Fortune

Fed Chair Jerome Powell faces a precarious balancing act amid criticism from Republicans and Democrats who claim he ‘gave in to bullying’

Powell holds firm in the face of pressure from both parties. “The Fed isn’t immune to politics, but it’s not subject to them either,” Columbia prof says.

The Guardian - US

US investors trigger major Wall Street sell-off over recession fears

Cooling job market, slowing manufacturing and tumbling stock market lead to big tech sell-offs

Top News

Stock Market Reacts To Concerns Over Fed Rate Cut

Traders anticipate Fed rate cut impact on stocks. Labor market strain and market correction cause concern. US economy shows resilience amidst challenges.

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