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The Latest Breaking News from Jerome Powell

When does a recession begin – and is the US in one now?

Question weighs on consumers, politicians and investors around the world as the Federal Reserve raises interest rates

The Guardian - US

US economy shrinks in second quarter, signaling unofficial start of recession

The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season

The Guardian - US

Stock Market Today-7/28: Stocks Extend Gains Following GDP Data; Apple Earnings In Focus

GDP data will likely ignite another recession debate, while markets sift through a puzzling Fed rate hike and brace for crucial June quarter earnings from Apple after the close of trading.

The Street

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Europe equities subdued after post-Fed surge on Wall Street

London (AFP) - European stock markets ran out of steam Thursday as investors digested another hefty Federal Reserve interest rate hike and awaited vital US economic growth data and key results from big-hitters Amazon and Apple.

AFP

Dogecoin Daily: Price Gets Momentum From Fed Rate Hike, Shibes Take Shots At Bitcoin

Dogecoin (CRYPTO: DOGE) traded 7% higher at $0.07 over 24 hours leading up to early Thursday. DOGE moved higher in tandem with other major coins as the global cryptocurrency marketcap shot up 8.4% to $1.06 trillion.

Benzinga

Stocks Lower Ahead of GDP Data, Meta, Spirit, Ford And Apple In Focus - Five Things To Know

Stock futures lower with earnings, GDP data in focus; Meta shares tumble after Q2 earnings miss, muted ad outlook; Spirit soars after cancelling frontier deal, setting up JetBlue takeover; Ford shares leap after solid Q2 earnings, outlook hold and Apple earnings on deck amid demand, chip, China impact questions.

The Street

Powell: No recession right now, but anything's possible

Closely watched economic figures come out this morning.

Axios

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Asia, Europe track post-Fed surge on Wall St but caution urged

Hong Kong (AFP) - Asian and European markets rose Thursday following a surge on Wall Street fuelled by hopes that the Federal Reserve could slow its pace of inflation-fighting interest rate hikes.

AFP

US economy likely grew modestly, if at all, last quarter

After going backward from January through March, the U.S. economy probably didn’t do much better in the spring

The Independent UK

Asian shares, oil prices mostly higher after Fed rate hike

Shares are mostly higher in Asia after the Federal Reserve ratcheted up its campaign against surging inflation by raising its key interest rate three-quarters of a point

The Independent UK

US GDP data due with all eyes on possible recession

Washington (AFP) - The United States is set to release key data on economic growth Thursday and global investors are watching closely as the world's largest economy flirts with recession -- while President Joe Biden walks a political tightrope.

AFP

US not yet in recession and 4 other takeaways from the Fed

Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs

The Independent UK

Asian markets track post-Fed surge on Wall St, but caution urged

Hong Kong (AFP) - Asian markets rose Thursday following a surge on Wall Street fuelled by hopes that the Federal Reserve could slow its pace of inflation-fighting interest rate hikes.

AFP

Summer Crypto Relief Rally Finally Here? Trader Sees Bitcoin At $30,000, Ethereum At $2,400

Major coins rose sharply after the U.S. Federal Reserve’s policy meeting concluded on Wednesday. The global cryptocurrency market cap rose 8% to $1.05 trillion at press time.

Benzinga

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The Conversation

A hawkish Fed signals further rate hikes and sees a slowing economy – but not recession

The U.S. Federal Reserve hiked its benchmark interest rate by a further three-quarters of a percentage point on July 27, 2022.

AFP

US stocks rally, dollar retreats as Fed hikes interest rates again

New York (AFP) - Wall Street stocks rallied and the dollar retreated Wednesday as the Federal Reserve again proceeded with a large interest rate hike, maintaining its forceful stance to combat inflation.

Investors Business Daily

Stock Market Mixed in Morning Trade; Fed Euphoria Fades

Commodities rose for the second day in a row, with strong advances in crude oil, copper, gold and wheat.

ABC News

US hikes rates 0.75pc again amid ongoing inflation surge 'surprise'

Wall Street has surged after Federal Reserve chair Jerome Powell hinted rate hikes could ease, with the Australian share market following.

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news in one place.

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Investors Business Daily

Dow Jones Futures Fall On 'Day 2' After Market Rallies Strongly On Powell Hints Of Slower Fed Rate Hikes

Stocks rallied strongly Wednesday after Fed chief Jerome Powell hinted at slower Fed rate hikes. Watch out for day 2 reactions

Bangkok Post

Fed's rate rises might have way to go yet

By the time this article is published, readers will know how much the US Fed funds rate has been raised for the fourth time this year. It does not really matter whether the rate is raised by 0.75% or 1% this time because the Fed will need to keep raising…

The Street

Bitcoin Surges After Fed Rate Hike

Cryptocurrency prices rose after the Federal Reserve hiked rates by 'only' 0.75%.

AFP

In US, even the definition of 'recession' is controversial

Washington (AFP) - In Washington circles, saying the "R" word comes with a bit of risk.

Benzinga

Experts React To 0.75% Fed Rate Hike: 'Don't Think They Will Pause'

The Federal Reserve raised its target fed funds rate by 0.75% on Wednesday to a new range of between 2.25% and 2.5%, its second 0.75% rate hike in two months.

Investors Business Daily

Dow Jones Surges; Powell Gives This Signal Amid Big Fed Rate Hike; Google Soars, Boosts These Stocks

The Dow Jones gained after Federal Reserve Chairman Jerome Powell gave guidance on rate hikes. Microsoft and Google earnings impressed.

AFP

Fed attacks US inflation with another interest rate hike

Washington (AFP) - The US Federal Reserve on Wednesday again raised the benchmark interest rate by three-quarters of a percentage point in its ongoing battle to tamp down raging price pressures that are squeezing American families.

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