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The Latest Breaking News from US Federal Reserve

Applications for US jobless aid rise by most in 5 months

The number of Americans applying for unemployment benefits last week jumped by the most in five months, but layoffs remain historically low as the labor market continues to be largely unaffected by the Federal Reserve’s interest rate hikes

The Independent UK

3 High-Quality Stocks to Buy Now and Hold for the Next Decade

With the Fed extremely likely to raise the benchmark interest rates higher than envisaged by policymakers, the economy and the stock market are expected to remain under pressure. Amid the uncertainty, it could be wise to invest in high-quality stocks Visa (V), Novo Nordisk A/S (NVO), and Autodesk (ADSK) for…

StockNews.com

Construction job openings plunge nearly 50%

It's one of the only major pockets of weakness in the labor market.

Axios

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read the most diverse news in one place.

Pound Continues To Strengthen As Fed Start To Slow Down Its Interest Rate Hike

The escalation of inflation in the United States has prompted the country’s Federal Reserve to increase the interest rate rapidly.

inkl

Asian stocks mixed after Wall St steadies amid rate fears

Asian stock markets are mixed after Wall Street steadied following a plunge on worries about more U.S. interest rate hikes

The Independent UK

America’s $52 Billion Plan to Make Chips at Home Faces a Labor Shortage

In Ohio, a bipartisan push to build more fabs needs more workers—and quickly.

Businessweek

Eberly emerges as front-runner to be Biden’s Fed vice chair pick

WASHINGTON — Northwestern University Professor Janice Eberly is the front-runner in the White House search for a successor to Lael Brainard as vice chair of the Federal Reserve, people familiar with the matter said.

Tribune News Service

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Asian bourses dip on rate hike hint

Asian stocks tumbled on Wednesday as regional currencies weakened following comments overnight by Federal Reserve chair Jerome Powell that raise the possibility the US central bank would resume large-scale interest rate hikes to tame sticky inflation.

Bangkok Post

Fed Chairman Jerome Powell says a CBDC won't happen soon: 'We're not at the stage of making any real decisions'

President Joe Biden issued an executive order last year calling for more urgency and research on CBDCs.

Fortune

Powell softens tone and says March rate hike size is not yet decided

Federal Reserve Chair Jerome Powell softened his tone slightly during a second day of congressional testimony, saying policymakers will wait for fresh jobs and inflation data before deciding how much to raise interest rates later this month.

Tribune News Service

Powell says ‘no decision’ has been made on speeding up pace of rate hikes

Federal Reserve Chair Jerome Powell stressed that policymakers had not yet made up their minds on the size of their interest-rate increase later this month and said it would hinge on incoming data on jobs and inflation.

Tribune News Service

'It really shouldn't be this way': Top economist Mohamed El-Erian blames the Fed for bad messaging and stock volatility

Fed's Jerome Powell hinted in February that inflation hikes would slow because disinflation was underway. But on Tuesday, he seemed to backtrack.

Fortune

Bond traders haven’t been this scared of a recession since 1981

It’s time to brush up on yield curve inversions (again). They’ve predicted every recession since 1955.

Fortune

Two testy exchanges show Fed's inflation dilemma

The two unusually fiesty exchanges were a preview of what is likely to be a key dynamic.

Axios

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The Independent UK

Powell says 'no decision' on the Fed's next move on rates

Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank’s policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation

Fortune

Wall Street’s most successful hedge fund just politely told the Fed to shut up

Citadel's Ken Griffin said the Fed cannot work magic, so it must avoid making its job of tackling inflation harder by confusing markets.

The Independent UK

January US job openings dip, but still high at 10.8 million

U.S. employers posted 10.8 million job openings in January, a sign that the American job market continues to run too hot for the inflation fighters at the Federal Reserve

The Guardian - US

The US central bank is poised to cause untold hardship to millions of Americans

The Federal Reserve chairman has admitted that at least 2 million people could lose their jobs if interest rates keep rising

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StockNews.com

3 Momentum Stocks to Buy for Big Gains

Fed’s hawkish stance to tame stubbornly high inflation and the recessionary concerns have weighed heavily on investors’ sentiments. Despite such market uncertainties, quality momentum stocks Jabil (JBL), Overseas Shipholding Group (OSG), and Adams Resources & Energy (AE) look poised to deliver big gains in 2023. So, these stocks could be…

StockNews.com

3 Big Box Retailer Stocks to Buy Without Hesitation in 2023

Despite the economic turmoil, retail sales remained steady, indicating that consumer spending is not slowing down. While other sectors continue to feel the pinch of interest rate hikes, the grocery/big-box retail industry has been holding up well due to the inelastic demand for its products. Therefore, investors shouldn’t hesitate to…

StockNews.com

3 Stocks with Tremendous Growth Potential in 2023

Given the pace and intensity of the Fed’s monetary tightening, there’s a strong likelihood that the U.S. will enter a recession in 2023. However, amid a strong job market and resilient consumer spending, the possibility of a soft landing still stands. Given this backdrop, quality stocks Gilead Sciences (GILD), Coca-Cola…

Evening Standard

FTSE 100 Live: Pound under pressure, L&G profits up

Pressure on banks and other blue-chip stocks continued today following the collapse of Silicon Valley Bank.

The Independent UK

Asian stocks tumble amid fears about faster rate hikes

Asian shares are mostly lower as investors fret that the Federal Reserve might raise interest rates faster if pressure stays high on inflation

Tribune News Service

Debt limit action needed by mid-August, analysts warn. Here are 5 possible scenarios

WASHINGTON — Economists at Moody’s Analytics estimate that the Treasury Department will run out of borrowing room by mid-August if Congress doesn’t act to raise or suspend the statutory debt limit by then.

Tribune News Service

Mohamed A. El-Erian: Powell’s comments unleash unsettling volatility

It really shouldn’t be this way, and it doesn’t need to be. Yet once again remarks by Federal Reserve Chair Jerome Powell fueled considerable volatility in markets that could risk both economic well-being and financial stability. It’s a phenomenon that not only highlights repeated policy slippages but also the lack…

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