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The Latest Breaking News from Jerome Powell

OLD EXPLAINER: How do we know when a recession has begun?

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

Surprise! Jobless Claims Fall To Lowest Levels Since April: What You Need To Know Now

U.S. initial jobless claims unexpectedly fell last week to the lowest levels since April, signaling the labor market remains resilient despite continued rate hikes from the Federal Reserve.

Benzinga

Peak oil has finally arrived. No, Really

I’ve rarely felt more trepidation about writing a column than this one. But here goes: After more than a century of almost continual growth, the world’s appetite for oil is peaking, and will soon enter terminal decline.

Tribune News Service

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Amazon Unveils New $1 Billion Wage Hike Plan, Adding to Fed Inflation Headache

Amazon will spend an extra $1 billion boosting warehouse and transport workers' pay, just as the Fed is hoping to see moderating wage growth bring down inflation.

The Street

Memories of the 1970s haunt the Fed, pushing its aggressive rate moves

The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.

WEKU

Financial markets are a mess around the world. Fingers are pointing at the Fed

Customarily, the Fed and other central banks do as much as they can to keep markets calm. This time they're the reason behind the volatility.

WEKU

Is a global recession coming? More experts are raising the alarm

Figures including the head of World Trade Organization and Paul Krugman are expressing concern about economic outlook.

Al Jazeera

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Bitcoin, Ethereum, Dogecoin Slip: Analyst Says Apex Crypto's Stabilization 'A Welcome Sign' Despite Lack Of Catalyst

The two largest coins were in the red Tuesday evening, as the global cryptocurrency market cap slipped 0.6% to $933 billion at 8:12 p.m. EDT.

Benzinga

A global recession looks increasingly likely – but here’s how Australia could escape it

If the US pushes up interest rates to the point where it’s about to bring on a recession, Australia would be well advised to stand back and not lift rates

The Guardian - AU

Stock Market Gains Evaporate; Tesla Up Despite Red Flag; Fed's Aggressive Lingo; A Musk-Twitter Deal?

Stock market indexes climbed overnight but gave up gains in the first half of Tuesday's session.

Investors Business Daily

Fed's Powell urges broader regulation for stablecoins

Federal Reserve Chair Jerome Powell said that stablecoins will need greater regulation as they become more widely used by consumers

The Independent UK

Stocks Rebound, Powell, Pound, Starbucks and Hurricane Ian In Focus - Five Things To Know

Stock futures rebound as dollar retreats; Powell speech in focus as Fed maintains hawkish message; Pound bounces back as Bank of England hints at support; Starbucks set to begin labor talks with unionized cafes and Hurricane Ian picks up speed, could strike Tampa as Cat 4 storm.

The Street

A global recession looks increasingly likely – but here's how Australia could escape it

Global stock markets are tanking on fears of recessions in the US, the UK and Europe, and the OECD is actually forecasting recessions in Europe.

The Conversation

Cathie Wood Says Powell's 'Sledgehammer' To 'Slay' Inflation Way More Powerful Than Volcker's In 1980s: 'Fed Could Undermine Its Legacy'

Cathie Wood, the founder of ARK Investment Management, has said the current U.S. monetary policy is significantly more restrictive than in the 1980s when, to kill inflation, former Federal Reserve Chair Paul Volcker had pushed the Fed funds rate up two-fold from 10% to 20%.

Benzinga

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Los Angeles Times

Michael Hiltzik: Painful signs emerge that Fed is moving too far, too fast with aggressive rate increases

We have a term for the intentional infliction of pain on others: cruelty. So what are we to make of the Federal Reserve Board?

The Street

Stock Market Today: Stocks Slump Amid FX Turmoil, Weak Bond Auction: Dow Tumbles Into Bear Market Slump

With currency markets in turmoil, the dollar is riding fresh twenty year highs and piling more inflationary pressures on major global economies.

The Street

Stocks Edge Lower, Week Ahead, Pound In Crisis, Amazon And Hurricane Ian - Five Things To Know

Stock futures edge lower amid currency market chaos; Week Ahead: Fed inflation gauge in focus as rates leap; Sterling crisis sends pound to all-time low against the dollar; Amazon follows Target in early holiday sales kick-start and Hurricane Ian bears down on Cuba, headed for Florida gulf coast.

Investors Business Daily

Federal Reserve May Have Gone Too Far As S&P 500 Tests Bear Market Low

The Federal Reserve was so worried about not being hawkish enough that it probably went overboard, setting up a wild ride for the S&P 500.

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The Street

Goldman Sachs Cuts S&P 500 Price Target By 16%

While some of Wall Street's top firms are still clinging onto their bullish price targets, Goldman Sachs is reassessing.

Benzinga

How The FOMC Announcement Affected The Major REITS

Investors sold off shares in major real estate investment trusts (REITs) sold off after Federal Reserve Chairman Jerome Powell announced Wednesday that benchmark interest rates would go up by 0.75% to 3% and 3.25%.

WEKU

Stock markets drop as Wall Street takes a gloomy view of the economy

The Dow dropped more than 450 points to close at the lowest level since November 2020.

Investors Business Daily

Dow Jones Breaks June Low; Powell Speaks; Crude Oil Crushed

The Dow Jones Industrial Average broke the June low on Friday while markets awaited Powell's afternoon speech.

Investors Business Daily

Dow Jones Sells Off Ahead Of Powell Comments As Recession Fears Mount

The Dow Jones Industrial Average sold off Friday ahead of Fed chief Powell's comments at a Federal Reserve event in Washington D.C.

Tribune News Service

Jonathan Levin: Fed splits the difference on labor market pain

The Federal Reserve is inching toward acknowledging how painful its inflation fight is likely to be, but it’s still a lot closer to the optimists than the pessimists.

Bangkok Post

Asian bourses slip after Fed hike

Many Asian stock exchanges deepened their losses on Thursday as currencies tanked after the US Federal Reserve delivered a third consecutive 75-basis-point interest rate cut overnight and signalled more to come through next year, sparking fears of recession.

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