The Latest Breaking News from Jerome Powell

Stock Futures Drift Lower After Powell-Induced Rally; Salesforce Slumps As Co-CEO Steps Down, Clouding Q3 Earnings Beat; Costco Slides After Softer November Sales Data; Five Below Surges After Q3 Earnings Beat, Solid Outlook and GE Sets Date For GE HealthCare Spin-Off

Collapsed country fashion brand Joules is set to be bought up by retail rival Next. Joules was set to appoint administrators last month after failing to agree a financing deal to rescue the business, putting around 1,600 jobs at risk.

U.S. stocks surged on Wednesday, putting the blue-chip Dow Jones Industrial Average more than 20% above its September low after Federal Reserve Chair Jerome Powell’s dovish comments and signs of cooling U.S. inflation raised hopes that the central bank will become less aggressive on interest-rates hikes.

New York (AFP) - Wall Street stocks soared and the dollar fell Wednesday after Federal Reserve Chair Jerome Powell signaled a shift from the central bank's aggressive policy to counter inflation.

Futures fell ahead of a key inflation report. On Wednesday, the S&P 500 jumped above the 200-day line on Fed chief Powell's comments.

Australian shares rally, tracking overnight Wall Street gains after the US Federal Reserve chairman said the central bank could slow its pace of interest rate hikes "as soon as December".

The Tesla and Twitter CEO has suffered major stock dips this year, but there’s little chance of a Fed pivot.

Jerome Powell warned there ‘was more ground to cover’ and rates would stay higher for an extended period

Washington (AFP) - The Federal Reserve could ease its pace of interest rate hikes "as soon as" December, chair Jerome Powell said Wednesday, as the US central bank's campaign to cool prices trickles through the world's largest economy.