Page 17 - Jerome Powell

No let-up in market sell-off as recession fears build for world economies

Experts said risk aversion among investors is due to scepticism over whether policymakers will be able to achieve aggressive monetary tightening to tame inflation without triggering recession

Committed to fight inflation but not trying to trigger recession: Fed chair

'It's essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit all,' Fed chair said at a hearing before US Senate Banking Committee

Nasdaq turns positive after Fed chair's remarks on policy outlook

In his prepared remarks before the Senate Banking Committee, Jerome Powell reiterated that ongoing increases in the policy rate would be appropriate

Global shares dip despite Wall Street rally; focus shifts to Fed's Powell

Global shares declined Wednesday as markets shrugged off a Wall Street rally and awaited congressional testimony by Federal Reserve Chair Jerome Powell. European benchmarks fell in early trading after shares in Asia finished lower, including in Japan, Australia, South Korea and China. US futures were also down. France's CAC 40 lost 1.9% in early trading to 5,853.92, while Germany's DAX dove 2.3% to 12,989.70. Britain's FTSE 100 fell 1.2% to 7,066.66. US shares were set to drift lower with Dow futures at 30,037.00, down 1.6%. S&P 500 futures fell 1.9% to 3,698.00. Japan's benchmark Nikkei 225 shed 0.4% to finish at 26,149.55. Australia's S&P/ASX 200 lost 0.2% to 6,508.50. South Korea's Kospi tumbled 2.7% to 2,342.81. Hong Kong's Hang Seng dropped 2.6% to 21,008.34, while the Shanghai Composite sank 1.2% to 3,267.20. Stocks have been mostly sliding in recent weeks as investors adjust to higher interest rates that the Federal Reserve and other central banks are increasingly ...

Dow Jones falls 758 points to lowest in over a year, techs slide

The Dow had rallied on Wednesday after the Fed Chairman Jerome Powell announced its largest rate hike since 1994

Fed Reserve's aggressive rate hikes raise likelihood of recession

US Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed's efforts so far to tame it. Increasingly, it seems, doing so might require the one painful thing the Fed has sought to avoid: A recession. A worse-than-expected inflation report for May consumer prices rocketed up 8.6 per cent from a year earlier, the biggest jump since 1981 helped spur the Fed to raise its benchmark interest rate by three-quarters of point on Wednesday. Not since 1994 has the central bank raised its key rate by that much all at once. And until Friday's nasty inflation report, traders and economists had expected a rate hike of just half a percentage point on Wednesday. What's more, several more hikes are coming. The soft landing the Fed has hoped to achieve slowing inflation to its 2 per cent goal without derailing the economy is becoming both trickier and riskier than Powell had bargained for. Each rate hike means

Five pressure points to watch in Asian markets after Fed's 75 bps hike

Asia traders are waking up to a relief rally across the Pacific after Federal Reserve Chair Jerome Powell promised the biggest rate hike since 1994 won't be the rule

Fed hikes rates by 75 bps, biggest jump since 1994, flags slowing economy

Chairman Jerome Powell and colleagues on Wednesday intensified their effort to cool prices by lifting the target range for the federal funds rate to 1.5% to 1.75%

Growth stocks lift Wall Street ahead of Fed's rate decision; Nasdaq up 1.6%

Market heavyweights Apple Inc, Meta Platforms , Alphabet Inc, Microsoft Corp and Amazon.com Inc added between 1.3% and 2.5%

World's central banks got it wrong on inflation and economies pay the price

ECB President Christine Lagarde has lately also turned more hawkish than she previously indicated, and the Reserve Bank of Australia is among those raising rates faster than policy makers had signaled

US inflation surges to 41-yr high of 8.6%; stocks fall sharply, crude dives

The faster-than-expected increase in inflation last month reported by the Labor Department on Friday also reflected a surge in rents, which increased by the most since 1990

Treasury Secretary Janet Yellen expects US inflation to 'remain high'

Treasury Secretary Janet Yellen acknowledged that she and Fed chair Jerome Powell could have used a better word than transitory when describing the expected run of inflation in the US economy

Let's get US interest rates to 2.5% as quickly as we can: Fed's Daly

The central bank is under pressure to begin to decisively curb overly high inflation, which is running at more than three times its 2% goal

Gold, silver prices slip to two-week low as US yields, dollar rise

A stronger dollar makes bullion more expensive for buyers holding other currencies, while gains in benchmark US 10-year Treasury yields reduce the appeal of zero-yield gold.

Wall Street mixed amid inflation fears; Powell-Biden talks in focus

Energy outperformed with a 1.1% gain as Brent crude climbed above $120 a barrel

Biden to meet Fed Chairman Powell as US inflation bites pocketbooks

Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans' pocketbooks

Should central bankers consider pitfalls of making declarative statements?

In recent times, central bankers have stressed the need to be nimble, humble even. Recent mistakes warrant some humility

'Most' Fed officials saw 50 bps rate hikes in June and July, show minutes

The 50-basis-point rate increase this month was the first of that size in more than 20 years, and has set the Fed on course for a quick tightening of monetary policy

Wall Street drops as economic data, weak forecasts re-ignite slowdown fears

Snap set for worst day on record after profit warning; Abercrombie & Fitch slumps after lowering revenue outlook

Won't hesitate to keep hiking rates till inflation tamed: Fed chair

"What we need to see is inflation coming down in a clear and convincing way, and we're going to keep pushing until we see that," Powell said Tuesday during a Wall Street Journal live event