Page 5 - Jerome Powell

Sensex soars over 1,000 points: Top 5 reasons driving investor sentiment

Analysts believe that the US Fed's confidence about strong labor markets and dismissal of recession brought respite to the investors

Rupee, bonds gain on 'less hawkish' policy despite US Fed rate hike

Fed Chair Powell's comments suggest slower pace of hikes going ahead, say markets

Federal Reserve may go easy after 75 basis-point rate hike next week

Powell has said either 50 or 75 basis points would be on the table at the Fed's July 26-27 meeting

Fed sees 'more restrictive' rates possible if inflation persists: Minutes

Policy makers backed raising rates at their next meeting in July by either 50 or 75 basis points, according to minutes of the FOMC's June 14-15 policy meeting released Wednesday in Washington

'No guarantee' Fed can tame inflation, spare jobs, says Jerome Powell

Federal Reserve Chair Jerome Powell said there's no guarantee'' the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can achieve a so-called soft landing raising interest rates just enough to slow the economy and rein in surging consumer prices without causing a recession and sharply raising the unemployment rate. We believe we can do that. That is our aim,'' he said. But the Russian invasion of Ukraine, he said, had made the job more difficult by disrupting commerce and driving up the price of food, energy and chemicals. It's gotten harder,'' Powell said. The pathways have gotten narrower.'' ECB President Christine Lagarde echoed the major impact" of energy shocks, which are rippling worldwide but felt acutely in Europe because of its reliance on Russian oil and natural gas. She also pointed to Europe's proximity to the war in Ukraine and said how

Oil rises almost $2 a barrel, still set for weekly drop on recession fears

U.S. Federal Reserve Chair Jerome Powell said the central bank's focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes that have weighed on financial markets

Possible that rates will rise to level that causes recession: Fed's Powell

His remarks underscore the challenge facing the central bank as it raises interest rates at the most rapid clip since the 1980s to slow the economy and cool inflation

Fed aims to avoid recession, but it certainly is a possibility: Powell

He said the pace of future rate hikes will depend on whether and how quickly inflation starts to decline, something the Fed will assess on a meeting by meeting basis.

Fed will decide on rate hikes 'meeting by meeting', says Jerome Powell

Its decision-making will be based on the incoming data and the evolving outlook for the economy, Powell said in prepared testimony to the Senate Banking Committee

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