Jerome Powell

Fed is striving to maintain a fine balance

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: 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'

The yuan weakened after the government reported unexpectedly low inflation

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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