The Latest Breaking News from Jerome Powell

U.S. initial jobless claims ticked lower last week, but not by much. Unemployment insurance filings still remain near historically low levels.

Markets whipsawed in the aftermath of another 0.75 percentage point rate hike on Wednesday.

Stock futures lower as markets re-set Fed rate destination; eBay surges after earnings beat, solid holiday outlook; Roku plummets on bleak holiday outlook amid fall ad sales; Qualcomm slumps as muted smartphone outlook clouds Q3 earnings beat and Starbucks earnings likely to focus on China growth, U.S. Wage talks.

Hong Kong (AFP) - Asian and European markets sank Thursday after the Federal Reserve hiked interest rates and boss Jerome Powell suggested they would go higher than expected, blowing a hole in hopes for a more dovish pivot in its fight against inflation.

Bank of England has made its biggest interest rate rise in three decades, but signals rates won’t rise as high as markets had expected

Former Treasury Secretary Lawrence H. Summers has praised Federal Reserve Chair Jerome Powell for his policy stance stating the apex bank head has framed the issues correctly.

If the midterms favor Republicans, their top priority needs to be the fight against inflation—whether or not they feel like they created the problem.

Federal Reserve Chair Jerome Powell sought to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections

Hong Kong (AFP) - Asian markets sank Thursday after the Federal Reserve hiked interest rates and boss Jerome Powell suggested they would go higher than expected, blowing a hole in hopes for a more dovish pivot in its fight against inflation.