Jerome Powell
Jerome Powell News
US Federal Reserve hikes interest rate amid banking turmoil: Does this affect American credit card spending, home loans?
The US Federal Reserve raised its benchmark interest rate by a quarter point. The ninth consecutive increase in a year was made despite fears that it could add to financial turmoil after a string of bank failures. Here’s a look at how the hike will affect finances — from credit cards to car loans
US stocks tumble after Fed rate hike, concerns on economy
The tumble came after European markets made timid gains ahead of the US central bank's rate decision, and follows a relief rally earlier this week
Fed raises key rate by quarter-point despite bank turmoil
The Fed's signal that the end of its rate-hiking campaign is in sight may also soothe financial markets as they digest the consequences of the US banking turmoil and the takeover last weekend of Credit Suisse by its larger rival UBS
Yellen, Dimon, Powell helped clinch First Republic deal with key lawyer
The planned rescue package was discussed by Treasury Secretary Janet Yellen, Federal Reserve Chairman Jerome Powell and JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon earlier this week, according to two other sources familiar with the situation.
US adds robust 311,000 jobs despite Fed’s aggressive rate hikes to combat inflation
February’s sizable job growth shows that so far, hiring is accelerating this year after having eased in late 2022. From October through December, the average monthly job gain was 284,000. That average has surged to 351,000 for the past three months
US Federal Reserve lifts rate by quarter-point but says inflation is easing
The Federal Reserve extended its fight against high inflation Wednesday by raising its key interest rate a quarter-point, its eighth hike since March. And the Fed signaled that even though inflation is easing, it remains high enough to require further rate hikes
Asian shares jump, dollar eases after Jerome Powell comments
Chinese stocks were 0.11 percent higher, while Hong Kong's Hang Seng Index was up nearly 1 percent
Federal Reserve raises key rate by half-point for seventh time this year, signals more to come
The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come.
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
US Fed escalates fight against inflation, delivers third-straight big hike
The US Federal Reserve raised interest rates by 75 basis points for the third consecutive time and forecast they would reach 4.6 per cent in 2023, stepping up their fight to curb inflation
Asian markets tumble after Fed boss Jerome Powell warns of more interest rate hikes
Federal Reserve Chair Powell said his priority was bringing inflation down from four-decade highs, even at the expense of economic growth, adding that failure to act now would cause more pain later
US economy shrinks for second straight quarter as recession fear heightens
The US economy shrank from April through June for a second straight quarter, contracting at a 0.9 per cent annual pace
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
Fed aims to avoid recession but it's possible, says Jerome Powell
Jerome Powell 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'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 hikes interest rate: Why it is trying to tame inflation and impact on India's economy
The Federal Reserve interest hike of 75 bps could trigger a churn in equity markets, cool off investor enthusiasm and further weaken the Indian currency against the Greenback
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
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
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
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