The Latest Breaking News from Jerome Powell

Rolling coverage of the latest economic and financial news, as European stocks drop after Wall Street’s worst day since 2020

Cryptocurrencies are falling as inflation fears and a slump in retail stocks pull down the stock market.

President Joe Biden embarks for Asia on Thursday facing a new risk for the economy at home: a global economic slowdown caused by Russia’s invasion of Ukraine and the pandemic shutting down Chinese cities and factories

Dogecoin (CRYPTO: DOGE) traded 3.2% lower at $0.086 over 24 hours leading up to early Wednesday morning. DOGE slipped into the red alongside other major coins as the global cryptocurrency market cap declined 3.5% to $1.27 trillion.

Stock futures were indicating a lower open on Wednesday. Fed Chairman Jerome Powell said the Fed was determined to reduce inflation. Housing-starts and building-permits data are in focus. Target shares slipped before the retailer reports earnings. And JPMorgan holders voted against the bank's proposal to pay CEO Jamie Dimon a…

Asian stock markets are mixed after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation

Bitcoin and other major digital coins were in the green at press time, as the global cryptocurrency market cap increased 2.7% to $1.3 trillion.

Federal Reserve Chair Jerome Powell, in his most hawkish remarks to date, said the US central bank will raise interest rates until there is “clear and convincing” evidence that inflation is in retreat.

New York (AFP) - US consumers continued to increase spending in April, remaining resilient in the face of accelerating inflation, but retail giant Walmart still saw a big hit to its bottom line due to rising costs, according to reports released Tuesday.

Futures fell as Target dived early on a big profit miss. The stock market rally had a strong Tuesday. Broadcom looked actionable.

The Dow Jones rose as Fed Chair Powell issued an inflation pledge. Twitter gained as the Elon Musk takeover took a twist. A Warren Buffett stock soared.