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The Latest Breaking News from Jerome Powell

Stocks Set to Open Higher as Investors Await U.S. Jobs Data and Powell’s Comments, U.S. Avoids Shutdown

December S&P 500 futures (ESZ23) are up +0.06%, and December Nasdaq 100 E-Mini futures (NQZ23) are up +0.24% this morning as market participants looked ahead to comments from Fed Chair Jerome Powell and other Fed officials later today, while also bracing for more data on the U.S. labor market after…

Barchart

Janet Yellen says a government shutdown would add to risks of a recession

Treasury Secretary Janet Yellen is sounding the alarm about the damage a government shutdown could do to the U.S. economy. "It's really reckless and will impose immediate harm," Yellen told NPR.

WEKU

5 economic shocks are about to hit the U.S. all at the same time: ‘There are storm clouds out there forming that we're all seeing and watching—fearfully’

Jerome Powell was asked if he shares the Fed staff’s view that the economy is headed for a soft landing last month. “No, I would not do that,” he said.

Fortune

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Why the US job market has defied rising interest rates and expectations of high unemployment

Last year’s spike in inflation, to the highest level in four decades, was painful enough for American households

The Independent UK

Fed Holds Rates Steady, Dot Plot Hints At One More Hike

Treasury Yields Surge, Cisco to Acquire Splunk, Dimon's Inflation Concerns, Stock Market Volatility

Zenger

Inflation Here To Stay?

Plus: DeSantis campaign on life support, Biden climate corps seeks to waste your money, implanting chips into brains, and more…

Reason

Why Bitcoin, Ethereum, And Dogecoin Are Heading Lower Today Despite Powell’s ‘Very Very Good’ Remarks On Inflation

Major cryptocurrencies experienced a significant decrease in value on Wednesday evening

Zenger

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Stock market today: Asian shares track Wall Street's slump after Fed says rates may stay high in '24

Asian shares are lower, tracking a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought

The Independent UK

The Federal Reserve held off hiking interest rates − it may still be too early to start popping the corks

Federal Reserve officials held interest rates steady at their monthly policy meeting on Sept. 20, 2023 – only the second time they have done so since embarking on a rate-raising campaign a year and a half ago. But it is what they hinted at rather than what they did that…

The Conversation

The Federal Reserve holds interest rates steady but hints at more action this year

The Federal Reserve left interest rates unchanged Wednesday, despite stubborn inflation, although it left the door open to an additional rate hike in November or December.

WEKU

US interest rate will remain unchanged at 22-year high, Federal Reserve says

Federal funds rate will remain at the the same level as the central bank announced in July, when it last raised rates

The Guardian - US

What will Federal Reserve do next? Any hint of future rate hikes will be key focus of latest meeting

The Federal Reserve is set to leave its key interest rate unchanged Wednesday as it seeks to guide the U.S. economy toward a “soft landing” of cooling inflation without triggering a deep recession

The Independent UK

Federal Reserve is poised to leave rates unchanged as it tracks progress toward a 'soft landing'

Since Federal Reserve officials last met in July, the economy has moved in the direction they hoped to see: Inflation continues to ease, if more slowly than most Americans would like, while growth remains solid and the job market cools

The Independent UK

What if Jerome Powell pulled off a soft landing and nobody noticed? It's the economy's Groundhog Day

Economists are seeing shadows.

Fortune

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The Independent UK

3 officials sworn in at Federal Reserve, as governing board reaches full strength

Federal Reserve Chair Jerome Powell swore in three members of the central bank’s governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bank’s first Latina governor

The Guardian - US

US inflation in August rose to 3.7% amid sharp increase in energy prices

Growth in prices still remains far below the decades-high inflation rates that were seen last summer, when rate peaked at 9.1% in June

The Independent UK

Higher gas prices likely pushed up inflation in August, though other costs probably slowed

A sharp increase in gas prices likely pushed inflation higher in August compared with a year ago, yet a measure excluding energy and food costs is expected to fall for the fifth straight month, suggesting that the Federal Reserve’s interest rate hikes are still bringing down prices for many goods…

Fortune

The odds of a recession are now just 15% because fading inflation and a strong labor market are changing the equation, Goldman Sachs says

Positive inflation and labor data has prompted Goldman Sachs' chief economist to rethink the probability of a recession in the next 12 months.

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Barchart

Another "Worst Month" for Stocks this September? Here's the Biggest Risk Right Now

September has historically been the worst month for U.S. stocks. Here's what investors need to watch right now - including one critical catalyst that's the most potent risk for stocks right now.

The Guardian - US

Biden hails strength of economy as US adds 187,000 jobs in August

Number of new jobs matches July’s total, reflecting resilience of labor market even with high interest rates

The Conversation

Central banks say interest rates will stay high but it's unclear if this will be enough to curb inflation

The US central bank, the Federal Reserve, has recently signalled that it will keep interest rates high for as long as it takes to bring inflation down to its 2% target.

Zenger

Bitcoin, Ethereum, Dogecoin Trade Mixed As Investors Digest Powell’s Hawkish Remarks: Analyst Warning On ETF Approval — ‘The Biggest Discount Of All Time, Or Sh*t News’

Major cryptocurrencies traded with mixed results on Sunday evening, reacting to Federal Reserve Chair Jerome Powell’s speech

Kiplinger

Stock Market Today: Stocks Close Higher Ahead of Key Inflation, Jobs Data

The July personal consumption expenditures (PCE) index and the August jobs report are just two key data points on this week's jam-packed economic calendar.

Barchart

Stocks Set to Open Higher as Investors Await Key U.S. Inflation Data and Jobs Report

September S&P 500 futures (ESU23) are up +0.18%, and September Nasdaq 100 E-Mini futures (NQU23) are up +0.26% this morning as market participants looked ahead to the release of the Fed’s favorite inflation gauge while also awaiting Friday’s nonfarm payrolls report.

The Independent UK

Stock market today: Asian shares mostly rise after Fed chief speech

Asian shares are trading mostly higher, as investors felt relief from the head of the Federal Reserve indicating it will “proceed carefully” on interest rates

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