Page 12 - Jerome Powell

As Fed Reserve signals rate pause, Powell will have to placate hawks

Policymakers are expected to leave rates in a range of 5% to 5.25% at their June 13-14 meeting, allowing them to take stock of the outlook following recent strains in the banking sector

Powell signals a rate pause in June, says Fed can afford to watch data

Officials raised rates by a quarter percentage point earlier this month to a target range of 5 to 5.25 per cent and signaled they could pause. They next meet June 13-14

How US banks, Fed are prepping for default and the chaos which might follow

A severe and prolonged global economic recession would be all but guaranteed, and the reputation of the US and the dollar as beacons of stability and safety would be further tarnished

Powell faces lowest public confidence for Fed chairman on record: Gallup

A Gallup poll released Tuesday shows 36% of US adults say they have a "great deal" or a "fair amount" of confidence that Federal Reserve chairman would do or recommend the right thing for the economy

Credit crunch, El Nino & DC deadlock to challenge Powell's recession bet

In Powell's view, the gravity-defying strength of American labor markets is smoothing the way for a soft landing, even after five percentage points of interest-rate hikes in little over a year

Powell's playbook

Fed is striving to maintain a fine balance

Will review supervision of Silicon Valley Bank after collapse: US Fed

The Federal Reserve will review its supervision of Silicon Valley Bank after it collapsed in the second-largest US bank failure on record, the Fed announced Monday. Michael Barr, the Fed's vice chair for supervision, will lead the effort, the Fed said in a brief statement. Chair Jerome Powell said the central bank would conduct a thorough, transparent, and swift review. In a statement, Barr said: We need to have humility, and conduct a careful and thorough review of how we supervised and regulated this firm, and what we should learn from this experience. Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures fed fears that more financial institutions could fall. President Joe Biden insisted that the system was safe after the second- and third-largest bank failures in the nation's history happened in the span of 48 hours. In response to the crisis,

SVB crisis: Depositors to get access to 'all of their money' from today

SVB crisis: To allay the fears, a joint statement was issued by the Joe Biden administration stating that resolution will 'fully protect all depositors' and 'no losses will be borne by the taxpayer'

Dollar holds near three-month highs on rates outlook by Jerome Powell

The yuan weakened after the government reported unexpectedly low inflation

US economy started strong in 2023 on firm consumer spending: Fed Beige Book

"Amid heightened uncertainty, contacts did not expect economic conditions to improve much in the months ahead," the report said

Rupee slides as Federal Reserve's Powell hints at higher US terminal rates

In a bid to bring down high inflation, the Fed has, since March 2022, hiked interest rates by 450 basis points

Federal Reserve Chair Jerome Powell pushes dollar to three-month high

The rising greenback broke above its 200-day moving average against the yen for the first time this year in Asia trade, hitting its highest since mid-December at 137.49 yen

Powell sees higher peak for rates, says Fed prepared to speed up if needed

Federal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected

Rupee gives up firm gains as yuan takes a beating, banks purchase dollars

Traders cautious before Fed Chair Powell's speech, market holiday

Dollar subdued as traders eye Powell's testimony, February jobs report

The dollar index, which measures the U.S. currency against six major peers, was down 0.057% at 104.560, but not far off a seven-week high of 105.36 it touched last week

Dollar pulls back as Jerome Powell sticks to usual US Fed playbook

owell acknowledged that interest rates might need to move higher than expected if economic conditions remained strong but reiterated that he felt a process of disinflation was underway

Fed opts for small rate hike, still expects to deliver 'ongoing increases'

The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday

Jerome Powell likely to underscore US Fed's inflation fight far from over

Inflation is cooling, and parts of the economy appear to be weakening. But Chair Jerome Powell is likely Wednesday to underscore that the Federal Reserve's primary focus remains the need to fight surging prices with still-higher interest rates. With financial markets anticipating that the Fed will stop raising rates soon and possibly even cut them later this year, analysts say Powell will need to push back against such optimism. If financial markets expect lower rates than what the Fed plans to deliver, the central bank's already treacherous task can become even harder. Powell's tough message will likely emerge at a news conference after the Fed's 19-member policy committee announces its latest action. The policymakers are set to raise their benchmark rate by a quarter-point to a range of 4.5% to 4.75%, its highest level in about 15 years. The move could further increase borrowing rates for consumers as well as companies, ranging from mortgages to auto and business loans. In some

Federal Reserve has only narrow role to play on climate change: Powell

The Federal Reserve has only a limited role to play in combating climate change, Chair Jerome Powell said Tuesday, a stance that puts him at odds with environmental activists who have pushed central banks worldwide to take steps to restrict lending to energy companies. Without explicit congressional legislation, it would be inappropriate for us to use our monetary policy or supervisory tools to promote a greener economy or to achieve other climate-based goals, Powell said in prepared remarks to be delivered during a panel discussion in Stockholm hosted by Sweden's central bank. We are not, and will not be, a 'climate policymaker.' " In his written remarks, Powell stuck to the topic of central bank independence, the subject of the panel, and did not comment on the Fed's interest rate policies. Climate activists have pushed central banks, including the Fed, to use their supervisory powers over commercial banks to push for greater consideration of environmental risks in lending. Natu

A war-torn world: How Russia-Ukraine conflict dictated geopolitics globally

With the invasion turning into a misadventure for Putin in the face of a spirited Nato-backed Ukrainian defence, the world can only hope the 2 nations reach at least a brokered ceasefire deal in 2023