While investors have dealt with a tightening Fed before, it's been a long time since they've had to confront one that's been anything less than transparent in its intentions
The dollar was in the limelight even as broader currency markets quietened somewhat after an eventful week in global markets punctuated by a hawkish Federal Reserve meeting
Federal Reserve chair Jerome Powell unleashed bets on five or more hikes this year after he left the door open to raising rates faster than in previous cycles
SHANGHAI (Reuters) - Asian shares plunged to their lowest in nearly 15 months, short-term U.S. yields hit 23-month highs and the dollar strengthened on Thursday after the Federal Reserve's chairman signalled plans to steadily tighten policy.
The greenback hit a two-month top of $1.1220 per euro and held gains at 114.62 yen
Central bank signals likely to raise rates in March; stocks slide into negative territory after Powell remarks
European stocks opened higher Tuesday after a day of steep losses in Asia as markets waited to hear from Federal Reserve chair Jerome Powell after a two-day policy meeting that ends Wednesday. The possibility of conflict between Russia and Ukraine and concern over coronavirus outbreaks also were adding to uncertainties. France's CAC 40 edged up 1.1% to 6,861.14 in early trading, while Germany's DAX added 0.6% to 15,100.95. Britain's FTSE 100 rose 0.5% to 7,334.99. The future of the Dow Jones Industrial Average was 1.1% lower, while the S&P 500 future fell 1.6%. On Monday, a late buying spree pushed the benchmark S&P 500 index to a 0.3% gain after pulling it out of so-called correction territory a drop of 10% or more from its recent high. The Fed meeting will provide an update on policymakers' latest thinking on the economy and interest rates. Some economists worry the Fed is moving too slowly in tamping down inflation by raising rates that have been kept low for nearly two ...
The shakiness hitting Wall Street isn't just because the Federal Reserve's money printer that's supporting markets is slowing, but that it may soon go into reverse.
The dollar slid to its weakest since November against major peers after Federal chief Jerome Powell said it may take several months to make a decision on balance sheet
US Federal Reserve Chair, Jerome Powell has said that the central bank could start to shrink its balance sheet later this year.
The consumer price index rose 6.8 per cent in the 12-month period ending in November, the fastest annual pace in almost 40 years, according to the US Labor Department
He said the economy's fast-paced recovery from Covid was giving rise to persistent supply, demand imbalances
Powell told the Democratic-controlled panel that stabilizing prices was necessary to keep an economic expansion and employment growth underway.
The dollar slipped on Tuesday but was stuck within recent ranges as investors waited for U.S. Federal Reserve Chair Jerome Powell to speak at a congressional hearing later in the day
US Federal Reserve Chair Jerome Powell said hat the central bank will use its tools to prevent higher inflation from becoming entrenched while supporting the economic recovery.
Powell is seeking a second four-year term as head of the Fed, and his appearance before the committee will be followed by a hearing with vice chair nominee Lael Brainard on Thursday
The Federal Reserve said on Wednesday it would end its pandemic-era bond purchases in March and pave the way for three quarter-percentage-point interest rate hikes by the end of 2022.
The Fed's key rate, now pinned near zero, influences many consumer and business loans, including mortgages, credit cards and auto loans.
Today's inflation is due primarily to the disruption the pandemic has caused to key global supply chains
Cryptocurrencies were proving to be a challenge for emerging markets and strong regulation was needed, IMF's Gita Gopinath said. More in today's top headlines