Consumer prices soared in June by the most since 2008
'I am legitimately undecided on whether the benefits outweigh the costs or vice versa,' Powell said
WASHINGTON (Reuters) - With the U.S. Federal Reserve in the midst of a complicated policy shift, central bank watchers see a renomination of Jerome Powell to a second 4-year term as Fed chief as increasingly likely, a view bolstered by Powell's standing within the Biden administration and a closely divided Senate.
Spot gold was up 0.3% at $1,812.80 per ounce, as of 0854 GMT. U.S. gold futures gained 0.2% to $1,814.20.
The change in the Fed's forecast and a possible shift in policy is perhaps a good time to review how central banks - including the RBI - responded to the crisis, and debate future possibilities
Gold prices gained on Wednesday after US Federal Reserve Chair Jerome Powell promised not to raise interest rates too quickly based only on the fear of coming inflation
Federal Reserve Chair Jerome Powell reaffirmed the US central bank's intent to encourage a "broad and inclusive" recovery of the job market, and not to raise interest rates too quickly
Wall Street moved past mixed results in early trading to post solid gains by the afternoon, as investors awaited Powell's testimony to a congressional panel
Fed will watch broad set of labor market data, says Powell
Gold inched higher on Tuesday as a halt in the dollar's rally bolstered the appeal of the precious metal ahead of US Federal Reserve Chairman Jerome Powell's testimony to Congress
"Progress on vaccinations has reduced the spread of Covid-19 in the United States," the Federal Open Market Committee said in a statement released Wednesday
Powell was dismissive of anecdotes of labor shortages, explaining it mostly as an allocation problem
Repo and Treasury bill rates have been flirting with zero since the beginning of the year as reserve balances at the central bank swell
Powell is appearing before the committee along with Treasury Secretary Janet Yellen as part of Congressional oversight of the government's response to the pandemic
Gold prices eased on Wednesday, as the dollar touched a more than two-week high after US Federal Reserve Chair Jerome Powell reassured Congress that inflation would not spiral out of control
(Reuters) - The S&P 500 and the Dow edged lower at open on Tuesday as energy and travel stocks slipped, while investors awaited remarks from Fed Chair Jerome Powell and Treasury Secretary Janet Yellen for clues on the health of the economy.
Chevron Corp, Occidental Petroleum Corp and Exxon Mobil Corp shed between 1.5 per cent and 3.5 per cent pre-market as oil prices slumped 3 per cent
Federal Reserve Chairman Jerome Powell says the economic recovery from the pandemic has progressed more quickly than expected, but the central bank does not intend to let up in its support efforts
Federal Reserve Chair Jerome Powell said Monday that the US public needs to understand the risks behind Bitcoin and other crypto currencies
The economic situation in the US is much improved since the Covid-19 pandemic hit, but the recovery is "far from complete", Federal Reserve Chairman Jerome Powell said