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The Latest Breaking News from Jerome Powell

Federal Reserve 'Might' Do Another Huge Rate Hike, But Powell Sparks Dow Jones Rally

The Federal Reserve delivered a huge rate hike, but the Dow Jones extended gains after Jerome Powell said another huge hike may or may not come in September.

Investors Business Daily

Fed Delivers Back-to-Back 75 Basis Point Rate Hikes, Says Economy Starting to Weaken

"Recent indicators of spending and production have softened and inflation remains elevated," the Fed noted following back-to-back 75 basis point rate hikes.

The Street

Federal Reserve hikes interest rates 0.75 per cent for second time in two months

Another ‘unusually large’ hike possible to tackle inflation, depending on data, but increases will likely slow, says Fed Chair Powell

The Independent UK

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Stock Market Today - 7/27: Stocks Surge After Dovish Fed Decision; Big Tech Powers Market Boost

A dovish Fed, alongside stronger-than-expected outlooks from Microsoft and Google, have stocks trading firmly higher into the Wednesday close.

The Street

Stocks Higher, Fed Rate Decision, Microsoft, Google and Visa In Focus - Five Things To Know

Stock futures higher as fed decision looms; Powell comments in focus as markets look for new rate signals; Microsoft leaps as bullish outlook offsets Q4 earnings miss; Google powers higher as earnings defy ad market gloom and Visa beats Q2 earnings forecast, sees no signs of spending slowdown.

The Street

Bill Ackman Explains Why Inflation, Not Fed Rate Hike, Is Biggest Threat To US Economy

Billionaire hedge fund manager and CEO of Pershing Square Holdings Ltd. (OTC: PSHZF) Bill Ackman explained through a series of tweets that the biggest risk to the U.S.

Benzinga

Another big Fed rate hike is here to battle inflation. Economy hangs in balance

U.S. Federal Reserve raises rates for fourth time in 2022, this time by another three-quarters of a percentage point to battle inflation. It's at a size and pace we haven't seen since the 1980s.

WEKU

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Most markets rise as traders prepare for Fed meeting

Hong Kong (AFP) - Stocks mostly rose Wednesday, rebounding from an early sell-off thanks to earnings from top US tech giants that eased concerns about consumer demand.

AFP

Most Asian markets down as Fed prepares latest hike

Hong Kong (AFP) - Stocks fell Wednesday as recession fears returned to the forefront of traders' minds ahead of an expected Federal Reserve interest rate hike later in the day.

AFP

Fed poised to attack inflation with another interest rate hike

Washington (AFP) - The Federal Reserve opened on Wednesday the second day of its policy meeting where it is set to announce another big interest rate increase, the fourth this year, in its ongoing battle to tamp down price pressures squeezing American families.

AFP

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

By one common definition, the U.S. economy is on the cusp of a recession

The Independent UK

Federal Reserve Meeting: Brace For A Splash Of Cold Water For Dow Jones Rally

The Dow Jones had rallied ahead of the Federal Reserve meeting on hopes for smaller rate hikes. But it may be too early for a pivot.

Investors Business Daily

Fed lacks systems to thwart Chinese information gathering - report

The Federal Reserve lacks adequate systems to counter a "malign" effort by China to gather inside information on the U.S. economy and monetary policy, according to a report that was prepared by Republican staff of the Senate Homeland Security Committee.

Reuters

The Fed faces new political pressure as economy slows

A new op-ed from Senator Warren is a sign of the political risks ahead.

Axios

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The Independent UK

Fed set to impose another big rate hike to fight inflation

Conflicting signs about the health of the U.S. economy have thrust the Federal Reserve into a difficult spot

WEKU

The Fed's mission improbable: Beating inflation without causing a recession

Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.

AFP

Fed set for another big rate hike with economy on knife's edge

Washington (AFP) - US central bankers face an increasingly difficult balancing act as they struggle to douse scorching inflation while still keeping the economy growing, though they have made it clear they are willing to risk a recession.

Tribune News Service

Manchin in driver’s seat again after inflation fears vindicated

WASHINGTON — Nearly a year ago, Sen. Joe Manchin wrote Fed Chair Jerome Powell to raise alarm that the central bank’s policies would overheat the economy, a fixation that made the West Virginia Democrat an outlier in his party.

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The Independent UK

Fed ethics inquiry clears Powell and Clarida trades

The Federal Reserve’s inspector general concluded that financial trades made several years ago by Chair Jerome Powell and Richard Clarida, then the vice chair, did not violate any laws or ethics rules

Salon

Economists: More rate hikes won't help

After June's inflation numbers, the Fed is likely to push rates higher — at the risk of sparking a recession

The Independent UK

EXPLAINER: Why US inflation is so high, and when it may ease

Inflation’s relentless surge didn’t merely persist in June

The Independent UK

Surging gas prices likely drove US inflation to 40-year high

U.S. inflation likely reached a new 40-year high in June, driven up by a spike in gas costs, more expensive food and rent, and pricier cars and hotel rooms

Axios

The Fed risks looking backwards on inflation

This focus on inflation in the recent past could mean ignoring signs that inflation is already on track to come down.

Bangkok Post

For Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s

Federal Reserve chairman Jerome Powell is raising interest rates at the fastest pace since the 1980s. That has been easy so far because rates are low and the economy has been strong.

Tribune News Service

Scott Burns: The consumer price index tells us nothing useful about housing inflation

In a masterpiece of understatement, Jerome Powell, chairman of the Federal Reserve, recently said: “I would say if you’re a homebuyer, or a young person looking to buy a home, you need a bit of a reset.”

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