Page 13 - Jerome Powell

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

Fed lifts rates by half percentage point, sees economy nearing stall speed

Only two of 19 Fed officials saw the benchmark overnight interest rate staying below 5% next year

Fed's message on rate hold for 'some time' clashes with 2023 rate-cut bets

They're also likely to signal another 50 basis points of tightening next year, according to economists, and an expectation that once they reach that peak, they'll stay on hold through all of 2023

Crypto wrap: Positive commentary from Jerome Powell keeps market stable

In the last 7 days, Bitcoin (BTC) rose over 3 per cent and was trading at $16,970 on Friday. Ethereum (ETH) was up nearly 9 per cent and was trading at $1,280

Rupee gains as Fed's Jerome Powell hints at slower US rate hikes

So far in 2022, the Fed has hiked rates by a total of 375 bps, leading to a stronger dollar and diminishing the appeal of emerging market assets

Rupee appreciates by 8 paise to close at Rs 81.22 against US dollar

The rupee appreciated by 8 paise to close at 81.22 (provisional) against the US dollar on Thursday on broad dollar weakness after Federal Reserve Chairman Jerome Powell said the pace of interest rate hikes may slow. Forex traders said foreign fund inflows and a rally in domestic equities boosted investor sentiments. At the interbank foreign exchange market, the local unit opened at 81.08 and touched an intra-day high of 80.98 and a low of 81.32 against the greenback. The local unit finally settled at 81.22, registering a rise of 8 paise over its previous close. On Wednesday, the rupee closed at 81.30 against the US dollar, on month-end exporter dollar selling and MSCI rebalancing related inflows. "The Indian rupee started the new month on a front foot following stronger Asian currencies and risk-on sentiments. "It has gained in three out of the last four days as the dollar index slipped to a three-month low after Fed Chair Jerome Powell confirmed the pace of interest rates set to

Smaller rate hikes likely coming in Dec, says US Fed chairman Powell

Jerome Powell, Chairman of the US Federal Reserve, said the central bank could pull back on the pace of its aggressive rate hikes as soon as December.

Benchmarks extend record breaking run; Nifty tops 18,800; IT, metals shine

CLOSING BELL: Global cues triggered by Powell's positive remarks boosted sentiment. The Sensex scaled a new high at 63,583, while the Nifty 50 came within striking distance of 18,900 on Thursday.

Rupee gains 32 paise to 80.98 against US dollar after Fed chair's remark

The rupee appreciated 32 paise to 80.98 against the US dollar in early trade on Thursday on a broad dollar weakness after Federal Reserve Chairman Jerome Powell said the pace of interest rate hikes may slow. At the interbank foreign exchange, the domestic unit opened at 81.08 against the dollar, then gained further ground to touch 80.98, registering a rise of 32 paise over its previous close. On Wednesday, the rupee rose by 42 paise to close at 81.30 against the US dollar, on month-end exporter dollar selling and MSCI rebalancing related inflows. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.27 per cent to 105.66. Fed Chair Powell in his speech on Wednesday gave a clear indication that the Fed would slow down its pace of rate hikes and increase rates by 50 basis points in the December policy. Overall, the speech can be said to be leaning towards moderation in hawkishness going forward and this has brought a great sens

Asian stocks jump after US Fed chair Powell hints at rate hike slowdown

Powell's comments at the Brookings Institution in Washington sent Wall Street equities soaring, while the U.S. dollar and Treasury yields fell

Rate hike slowdown possible in Dec, inflation fight not over: Fed's Powell

The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," Fed Chair Jerome Powell said

US Fed needs to cut interest rates immediately as recession looms: Musk

Elon Musk on Wednesday said the US Federal Reserve needs to immediately cut interest rates as a severe recession is looming, ahead of the speech by Fed Chair Jerome Powell at a US event on the outlook

Peak in bond yields that appeared close has now vanished from sight

For the moment, investors remain convinced that the Fed is on a course that ultimately will bring the economy to its knees

Will the markets consolidate in this holiday-truncated week?

In the week ahead, Indian markets will focus on the last leg of Q2 results and macro-economic data for further cues on direction. Here's a report

Bond yields spike, tracking US peers on Fed's hawkish monetary policy tone

The 10-year U.S. yield rose above 4.10%, but the two-year US yield, which is a more direct indicator of rate expectations, rose closer to its highest level in over 15 years