Tag: Jerome Powell
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Everyone thinks Fed’s rate hike next week will be the last one — except the Fed
[ad_1] Wall Street economists seem convinced that the Federal Reserve will raise its benchmark interest rate by 25 basis points Wednesday and that this increase will turn out to be the final hike of this cycle. But they also don’t expect to hear Fed Chair Jerome Powell say so, at least not yet. “While we…
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Fed needs to review supervision after SVB failure, Powell says
[ad_1] Federal Reserve Chairman Jerome Powell urged stronger supervision and regulation of financial institutions the size of Silicon Valley Bank, in the wake of the spring banking crisis, as he also cautioned against complacency. “The banking system remains sound and resilient, deposit flows have stabilized, and strains have eased,” he said, in prepared remarks ahead…
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U.S. stocks shake off rate-hike worries to end mostly higher
[ad_1] U.S. stocks shook off early weakness to end mostly higher Thursday as investors digested fresh commentary from Federal Reserve Chairman Jerome Powell and a raft of interest-rate hikes from global central banks. How did stocks trade? The Dow Jones Industrial Average DJIA, -0.01% fell 4.81 points, or less than 0.1%,to close at 33,946.71. The…
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Nasdaq falls for third day as investors focus on Powell testimony
[ad_1] U.S. stocks traded mostly lower on Wednesday for a third day as investors tune into Federal Reserve Chairman Jerome Powell’s semi-annual speech to Congress on the economy and possibly interest rate direction. How are stocks trading? The Dow Jones Industrial Average DJIA, +0.08% was flat, trading at 34,053. The S&P 500 SPX, -0.30% dropped…
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U.S. yields rise after Fed’s Powell reiterates more 2023 rate hikes are likely
[ad_1] Two-month through 30-year Treasury yields rose Wednesday morning, after Federal Reserve Chairman Jerome Powell reiterated in written testimony to Congress that more interest rate hikes are likely to be on the way this year. What’s happening? The yield on the 2-year Treasury note TMUBMUSD02Y, 4.751% was 4.739%, up from 4.695% on Tuesday. The 10-year…
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Dow ends down 200 points as investors eye Powell’s comments Wednesday
[ad_1] U.S. stocks closed lower Tuesday, trimming last week’s gains which took indexes to the highest levels in more than a year, as investors await testimony from Federal Reserve chair Jerome Powell to Congress this week as data suggests the economy remains healthy. How stocks traded The Dow Jones Industrial Average DJIA, -0.72% ended down…
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‘Confused’ markets get another chance to hear Fed’s Powell ‘flesh things out’
[ad_1] Federal Reserve Chairman Jerome Powell ahead of last year’s semi-annual testimony to the House Financial Services Committee in Washington, D.C. This year’s testimony is set to begin on Wednesday. Win McNamee/Getty Images Financial markets will get another opportunity to absorb the prospect of further interest rate hikes this year when Federal Reserve Chairman Jerome…
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Opinion: How can the Fed achieve its inflation target? Raise the target.
[ad_1] Jerome Powell, chairman of the Federal Reserve, has tried pretty much everything he can do to combat inflation. The U.S. central bank has hiked its benchmark fed funds rate 10 times over the past 14 months, moving it by a total of 5 percentage points — from near zero. The current fed funds target…
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Why stock-market bulls can’t celebrate as Fed hints at pause in rate hikes
[ad_1] Stock-market traders were in no mood for subtlety Wednesday. The Federal Reserve and its leader, Chair Jerome Powell, left the door open to a halt in rate increases after delivering, as expected, a 10th straight hike that lifted the fed-funds rate to a range of 5% to 5.25%, its highest since 2007. To be…