The Latest Breaking News from Jerome Powell

Hong Kong (AFP) - Asian markets mostly rose Thursday on bargain buying after the previous day's battering, though oil extended losses after US Federal Reserve boss Jerome Powell admitted the economy could tip into recession as the bank hikes interest rates to fight runaway inflation.

With a 44% chance of the US entering recession, what do we need to know about Australia’s chances of going the same way?

Amidst a series of efforts to stem the tide of high fuel prices, the energy sector has pulled back swiftly. Is this the top, or is there more upside to come?

Indexes were on track to close higher Wednesday but slipped back into the negative near the end of the session.

Happy Wednesday Zingernation! All major indices are in the red going into the open. But, Jerome Powell is testifying to the senate at 9:30 am ET, so things could quickly change. Yesterday was a great day for the overall market, with the S&P 500 finishing up more than 2%. Tesla…

Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.

The Dow Jones rose despite a recession warning from Fed Chair Jerome Powell. Bitcoin tumbled again. Apple stock rose after a bullish call.

Federal Reserve Chair Jerome Powell began his two days of testimony before the U.S. Congress on Wednesday. This meeting on Capitol Hill follows the 8.6% uptick in the consumer price index (CPI), which came out last month — this was the highest increase since December 1981.

Federal Reserve Chair Jerome Powell gave his most explicit acknowledgment to date that steep rate hikes could tip the US economy into recession, saying one is possible and calling a soft landing “very challenging.”