Federal Reserve

Federal Reserve News

Jerome Powell says,Fed to keep rates higher for longer to cut inflation
World

Jerome Powell says,Fed to keep rates higher for longer to cut inflation

Powell said the Fed is seeking to increase its benchmark rate by enough to slow the economy, hiring, and wage growth, but not so much as to send the U.S. into recession

Jerome Powell expected to be quizzed on whether US Fed will slow hikes
Business

Jerome Powell expected to be quizzed on whether US Fed will slow hikes

So far this year, the Fed has raised its key rate five times in an aggressive pace that has sent borrowing rates surging across the economy and heightened the risk of a recession. The home market, in particular, has been badly bruised as a consequence

Markets rise on rate hopes ahead of crucial Federal Reserve decision
World

Markets rise on rate hopes ahead of crucial Federal Reserve decision

A sense of relief has settled on trading floors over the past week following a report that the US central bank could take its foot off the accelerator in its push to rein in decades-high inflation

Is the United States in recession? Signs to watch out for
World

Is the United States in recession? Signs to watch out for

In the July-September quarter, the US economy accelerated to a 2.6 per cent annual pace, after two quarters of contraction

Global markets fall sharply amid worries about rates, economy
World

Global markets fall sharply amid worries about rates, economy

Central banks in Britain, Switzerland, Turkey and Philippines have raised interest rates after the Fed hiked its key rate on Wednesday for a fifth time this year and indicated more increases were on the way

Explained: Why is Wall Street back on a roller coaster ride?
Business

Explained: Why is Wall Street back on a roller coaster ride?

The US Fed has already raised short-term rates four times in 2022, after keeping them pinned at virtually zero for two years because of the pandemic. The fear on Wall Street has been that accelerating inflation would force the Fed to hike rates by market-shaking margins

Powell Talks Tough: US not in recession and four other takeaways from the Fed
World

Powell Talks Tough: US not in recession and four other takeaways from the Fed

The European Union raised its short-term rate by a half-point last week. Although higher rates around the world could help throttle inflation, they also carry the threat of causing a global economic slowdown

US Federal Reserve unleashes another big rate hike in bid to curb inflation
World

US Federal Reserve unleashes another big rate hike in bid to curb inflation

The central bank's decision follows a jump in inflation to 9.1 per cent, the fastest annual rate in 41 years, and reflects its strenuous efforts to slow price gains across the economy

Fed's aggressive rate hike to curb inflation raises likelihood of recession
World

Fed's aggressive rate hike to curb inflation raises likelihood of recession

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 Federal Reserve Chair Jerome Powell had bargained for

US Fed raises key interest rate by 75 bps, largest hike since 1994; signals more hike ahead
World

US Fed raises key interest rate by 75 bps, largest hike since 1994; signals more hike ahead

Borrowing costs have risen sharply across much of the US economy in response to the Fed's moves, with the average 30-year fixed mortgage rate topping five per cent, its highest level since before the 2008 financial crisis

Wall Street slips into a bear market; here's what that means for the market
Business

Wall Street slips into a bear market; here's what that means for the market

A bear market is a term used by Wall Street when an index like the S&P 500, the Dow Jones Industrial Average, or even an individual stock, has fallen 20% or more from a recent high for a sustained period of time.

Global stock markets fall after US jobs report as investors keep eye on Federal Reserve
Business

Global stock markets fall after US jobs report as investors keep eye on Federal Reserve

The Fed has hiked interest rates to combat sky-high inflation, but investors worry that more aggressive moves could backfire and hamper economic growth.

'US at very, very high risk of inflation', says Goldman Sachs' Senior Chairman Lloyd Blankfein
Business

'US at very, very high risk of inflation', says Goldman Sachs' Senior Chairman Lloyd Blankfein

Blankfein stated that there is a 'narrow path' for the Federal Reserve to avoid recession. The investment banker added that bringing inflation down to the central bank's target of 2 percent is 'going to involve some pain'

US Federal Reserve raises interest rates to fight inflation, signals more hikes ahead
World

US Federal Reserve raises interest rates to fight inflation, signals more hikes ahead

It also released a set of quarterly economic projections that underscored the potential for extended interest rate increases in the months ahead

US President Biden chooses three for Federal Reserve's Board of Governors, including first Black woman
World

US President Biden chooses three for Federal Reserve's Board of Governors, including first Black woman

The nominees would join the Fed at a particularly challenging time in which the central bank will undertake the delicate task of raising its benchmark interest rate to try to curb high inflation, without undercutting the recovery from the pandemic recession

US inflation at 40-year high pressures consumers, Federal Reserve and Joe Biden
World

US inflation at 40-year high pressures consumers, Federal Reserve and Joe Biden

The Labor Department reported Wednesday that a measure of inflation that excludes volatile food and gas prices jumped 5.5% in December, also the highest in decades

Joe Biden picks Jerome Powell for second term as Fed chair; stocks move higher
World

Joe Biden picks Jerome Powell for second term as Fed chair; stocks move higher

Biden said he will fill the three remaining slots on the board, including a vice chair for supervision, a bank regulatory post, in early December

Asian markets, Wall Street hold gains after Fed signals easing extraordinary support measures for economy
World

Asian markets, Wall Street hold gains after Fed signals easing extraordinary support measures for economy

Shares rose in Hong Kong, Shanghai, Australia and Taiwan but fell in South Korea and Malaysia. US futures were higher. Markets were closed in Tokyo.

US economic recovery slow but ready for Fed to start withdrawing financial support
World

US economic recovery slow but ready for Fed to start withdrawing financial support

Federal Reserve Chair Jerome Powell has signaled that the start of the taper process could begin before the end of the year, but an increase in the key borrowing rate would not come until later

President-elect Joe Biden to nominate ex-Fed chair Janet Yellen as treasury secretary
World

President-elect Joe Biden to nominate ex-Fed chair Janet Yellen as treasury secretary

Yellen became Federal Reserve chair in 2014 when the economy was still recovering from the devastating Great Recession. In the late 1990s, she was then president Bill Clinton’s top economic adviser during the Asian financial crisis