The Latest Breaking News from US Federal Reserve

The chairman added separately in a Senate hearing on Tuesday that the Fed could accelerate rate hikes in the coming year.

Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.

The Fed’s potential higher-than-expected interest rate hikes have fueled concerns among investors about a mild recession. Hence, fundamentally stable and dividend-paying stocks Walmart (WMT), BHP Group (BHP), and American Vanguard (AVD) could be particularly enticing for those nearing retirement and seeking security in their investment approach. Read more….

WASHINGTON — Hot inflation data could lead the Federal Reserve to raise interest rates to higher levels and at an accelerated pace, Federal Reserve Chairman Jerome Powell told the Senate Banking Committee on Tuesday.

The Fed is committed to bringing inflation down by raising interest rates aggressively. This could keep the stock market under pressure in the near term. Given their strong fundamentals and growth prospects, this could be the opportune time for investors to buy high-quality stocks Cisco Systems (CSCO) and Autodesk (ADSK).…

‘Ultimate level’ of interest rates likely higher than anticipated, Jerome Powell says in Fed’s monetary policy report to Senate panel

As the market remains volatile due to ongoing concerns about elevated inflation, prolonged rate hikes, and an impending recession, fundamentally strong dividend stocks Bristol-Myers Squibb (BMY) Gilead Sciences (GILD) might be ideal buys to ensure a stable income stream. Moreover, these stocks could be great long-term investments. Read more.

California has experienced significant population loss in recent years — but is a decline in residents to blame for the state’s budget deficit?

Consumer spending is not slowing at the rate the Fed hoped for, Brian Moynihan said.

Watch live as the Federal Reserve chair delivers the semiannual monetary policy testimony before the Senate Banking Committee.

For a few weeks in late January and early February, the U.S. economy seemed to have reached a rare sweet spot