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The Latest Breaking News from Jerome Powell

Editorial: Economic downturns hurt Americans. They can kill Somalis

Federal Reserve Chair Jerome Powell kicked off the holiday season with another interest-rate increase. He also lit the fuse for a sell-off in the stock market by telling the world, “We have more work to do,” signaling additional rate hikes in 2023. A year-end “Santa Claus Rally” could still materialize,…

Chicago Tribune

We're in the second biggest home price correction of the post-WWII era—here's the latest data

The Fed’s “difficult [housing] correction” has seen the U.S. housing market flip from inflation mode to deflation mode.

Fortune

Jerome Powell Quotes: Best of 2022

Running the Federal Reserve at a time of high economic volatility is no easy drive. Yet Chair Jerome Powell has a firm grip on the steering wheel.

The Street

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Key inflation gauge cools, US consumer spending misses forecasts

The Federal Reserve’s preferred inflation measures eased in November while consumer spending stagnated, suggesting the central bank’s interest-rate hikes are helping to cool both price pressures and broader demand — with more tightening on the way.

Tribune News Service

The Fed's New Key Inflation Rate Cooled In November; S&P 500 Wavers

The core inflation rate most watched by the Federal Reserve eased further in November, though a bit less than expected. The S&P 500 rose.

Investors Business Daily

Wall Street Expects a Santa Claus Rally

An uptick during the last five trading days of 2022 could occur, said market strategists and economists.

The Street

Top economist Mohamed El-Erian says there’s a ‘new definition’ for a soft landing and argues ‘we can’t avoid a recession’

Americans may have to accept higher inflation, or face a serious recession as the Federal Reserve raises interest rates to get to its 2% inflation target, El-Erian warns.

Fortune

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Economists place 70% chance for US recession in 2023

Economists say there is a 7-in-10 likelihood that the U.S. economy will sink into a recession next year, slashing demand forecasts and trimming inflation projections in the wake of massive interest-rate hikes by the Federal Reserve.

Tribune News Service

The world fears a new China COVID wave, ponders how to help Xi

Officials and global health experts outside China are anxiously watching a COVID-19 surge there, worried a nation of 1.4 billion people is inadequately vaccinated and may not have the healthcare tools to treat a wave of illness expected to kill more than one million people through 2023.

Reuters

Powell puts US pay hikes at heart of Fed’s 2023 inflation fight

Federal Reserve Chair Jerome Powell has a new North Star to guide his fight against inflation, and it will put American paychecks at the heart of monetary policy next year.

Tribune News Service

Inflation is ‘basically over’ and the Fed is ‘making a terrible mistake’ by continuing to raise interest rates, Wharton professor Jeremy Siegel says

Jeremy Siegel warned that inflation was going to become a problem in 2020. Now, he says the Fed has done too much to fight it, and is set to cause a recession.

Fortune

Market Rally Pressured On Fed Rate Outlook; Moderna, Boeing, Tesla In Focus: Weekly Review

The market rally came under pressure on a higher Fed rate outlook. Moderna spiked on a cancer vaccine while Tesla continued to dive.

Investors Business Daily

Fed chair Powell on the U.S. labor shortage: COVID, retirements, missing immigrants

Close to half a million working-age people lost their lives to COVID.

Axios

US recession a growing fear as Fed plans to keep rates high

After scaling 40-year highs, inflation in the United States has been slowly easing since summer

The Independent UK

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Bangkok Post

Asia tracks Wall Street decline

The Stock Exchange of Thailand (SET) and most Asian bourses sagged yesterday, tracking overnight declines on Wall Street, as the Federal Reserve reiterated that US interest rates next year will be higher than previous market estimates, raising fears of a recession.

The Street

'Big Short' Michael Burry Sends an Alarming Warning to Investors

The legendary investor has just posted a message that might discourage investors from buying stocks.

Investors Business Daily

Stock Market Losses Steepen, Retail Sales Numbers Spook Investors

Netflix dropped 8% after news it is refunding money to advertisers due to lagging viewership numbers. The Dow Jones dropped over 800 points.

WEKU

5 takeaways from the front lines of the inflation fight

Inflation may be slowing, but prices are still climbing much faster than Americans are used to. The Federal Reserve's dramatic steps to bring it to heel appear to be working - somewhat.

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The Street

Stock Market Live: Stocks Close Sharply Lower As Powell, Fed Hawks Tighten Grip: Retail Sales Stumble

Fed Chair Jerome Powell poured cold water on market hopes for an end-of-year rally, signaling the need for a "higher for longer'' interest rate policy as inflation continues to lean economic growth.

France 24

Federal Reserve slows pace of rate hikes, vows to fight on against inflation

The US central bank has raised its benchmark rate to its highest level in 15 years, although at a slower clip than previously. Federal Reserve Chair Jerome Powell argues that while inflation has dipped, it is still too high to warrant a change in monetary policy. Also on the show,…

The Street

Stocks Extend Slide, Fed Hawks, ECB Hikes, Tesla Sale, Lennar Slump - Five Things To Know

Stock futures slide as Fed hawks tighten grip; Powell pours cold water on easing hopes, says more hikes to come; ECB, Bank of England set to follow fed with 50 basis point rate hikes; Tesla extends slump as Musk dumps another $3.6 billion stake and Lennar shares retreat on softer…

AFP

Markets sink with Wall St on hawkish Fed outlook

Hong Kong (AFP) - Asian and European equities fell Thursday after the Federal Reserve signalled US interest rates would go higher than expected and warned the world's biggest economy would grow less than expected next year, fanning fears a recession is on the way.

Asharq Al-Awsat

US Federal Reserve Raises Interest Rate, Highest since 2007

The US Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. The central bank boosted its benchmark rate a half-point to a range of 4.25% to 4.5% and projected it would continue rising to…

The Independent UK

Asia stocks follow Wall St down as Fed warns of higher rates

Asian shares have skidded after a retreat on Wall Street as markets showed dismay over the Federal Reserve's warning that more interest rate hikes are in store following its latest increase

AFP

Asian markets sink with Wall St on hawkish Fed outlook

Hong Kong (AFP) - Asian equities fell Thursday after the Federal Reserve signalled US interest rates would go higher than expected and warned the world's biggest economy would grow less than expected next year, fanning fears a recession is on the way.

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