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The Latest Breaking News from Jerome Powell

US adds 236,000 jobs in March as labor market weakens

March saw fewer jobs added to economy compared with February as effects of Fed’s interest rate increases are felt

The Guardian - US

Mohamed El-Erian’s advice to Jerome Powell: ‘Talk less, smile more’

The Federal Reserve has a communication problem, and it could be damaging the stock market, says El-Erian.

Fortune

‘Total and complete disaster’: DeSantis takes rhetorical aim at Fed Chairman Powell

WASHINGTON — Ron DeSantis has found a new rhetorical target as he prepares for a potential presidential bid: Federal Reserve Chairman Jerome Powell.

McClatchy Washington Bureau

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Americans are over the endless anxiety loop. Only the rich, remote workers, and Gen Zers really care about the banking crisis, according to The Harris Poll

At least nine in 10 Americans feel their money is safe at their bank or credit union, regardless of its size, according to the Harris Poll.

Fortune

Americans are working less than they were before the pandemic

Americans are spending less time working than they did before the pandemic. That’s good for many of them, but it’s not necessarily great for the inflation-fighting Federal Reserve.

Tribune News Service

Are These Stocks Worth the Earnings Hype?

Following three weeks of banking turmoil, anxiety over still-elevated inflation, and rising interest rates, investors turn back their focus to corporate earnings reports and a series of economic data, including the payrolls report due this week. Let’s find out if stocks Nurix Technologies (NRIX), Genius Brands (GNUS), and ClearSign Technologies…

StockNews.com

From stability to consolidation to the big crunch, here are the 3 questions every small business owner is asking about the banking system

The bank crisis could spark a credit crunch that will rock the economy. It'll be a major test for small businesses.

Fortune

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Michael Hiltzik: How Trump's frenzy of deregulation killed Silicon Valley Bank

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.

Los Angeles Times

More Americans file for jobless claims; layoffs remain low

U.S. applications for jobless benefits rose last week but remain at historically low levels despite the Federal Reserve’s efforts to cool the economy and job market in its fight against inflation

The Independent UK

Top economists think the Fed will raise rates just once more before they're done

Economists have had their say on what the Fed will do later this spring –and when rates may finally begin to fall.

Fortune

Fed’s Barr: SVB ignored ‘bread and butter’ banking issues - Roll Call

The Fed official in charge of bank supervision said SVB was warned about its risks and that it ignored “bread and butter” banking issues.

Roll Call

A recession in 2023 is now inevitable. Layoffs in tech and finance will spread to other sectors

Don't let a seemingly strong jobs market fool you–the data today is reminiscent of the early days of past recessions, according to Murray Sabrin.

Fortune

Editorial: Lessons From the Collapse of Silicon Valley Bank

By taking every crisis suffered by others seriously, we can minimize our own crises

Caixin Global

Bank failures and rescue test Yellen's decades of experience

Treasury Secretary Janet Yellen worked against the clock with other regulators, lawmakers and business leaders to come up with a plan that would prevent a full blown banking crisis

The Independent UK

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Fortune

Billionaire investor Barry Sternlicht says the Fed's rate hikes are like using a 'steamroller' to 'kill a small fly' and warns the economy is about to 'hit the wall'

The billionaire investor says interest rate hikes are undermining the economy and could lead to more bank turmoil.

Tribune News Service

Volcker slayed inflation. Bernanke saved the banks. Can Powell do both?

History remembers Paul Volcker as the slayer of inflation, and Ben Bernanke as the crisis firefighter. Jerome Powell is in danger of having to play both roles at once — or, what may be worse, to choose between them.

Salon

Fed risks throwing millions out of work

"The Fed is playing with fire," warns former Labor Secretary Robert Reich

Bangkok Post

SET upbeat after Fed hikes rates

The Thai stock market traded higher on Thursday, bucking overnight drops on Wall Street as most regional bourses were sanguine following Federal Reserve hints that further tightening is possible, while Treasury Secretary Janet Yellen said there is no plan for "blanket" deposit insurance.

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Kiplinger

Stock Market Today: Stocks Close Higher in Volatile Session

The major indexes spent most of Thursday in rally mode, but selling pressure emerged in afternoon trading.

The Independent UK

Fed's unwanted ally in bid to tame inflation: Credit crunch

The Federal Reserve is getting some unwanted help in its drive to slow the U.S. economy and defeat the worst bout of inflation in four decades: A cutback in bank lending

Fortune

Elon Musk says Jerome Powell is so bad at his job that GPT-4 would be a better Fed chair: ‘This foolish rate hike will worsen depositor flight’

Elon Musk disagreed with the Fed describing the banking system as “sound and resilient,” tweeting, “banks are melting.”

StockNews.com

3 High-Quality Stocks to Add to Your Watchlist Now

Despite the bank failures, the Fed will likely keep raising interest rates to bring inflation down. This is expected to keep the stock market under pressure. Amid this backdrop, it could be wise for investors to add high-quality stocks Visa (V), Amgen (AMGN), and Box (BOX) to their watchlist. Keep…

StockNews.com

3 Stocks Bargain Hunters Might Want to Hold off on Right Now

US stocks fell after Federal Reserve Chairman Jerome Powell dismissed speculations of rate cuts by policymakers this year. Hence, amid uncertainties, bargain hunters should avoid Mullen Automotive (MULN), Bed Bath & Beyond (BBBY), and Vinco Ventures (BBIG), which are trading at unreasonable prices. Read on.

The New Daily

European bank shares fall as crisis leaves mark

Banking shares have slipped in Europe as investors adjust to more challenging economic and lending conditions ahead.

The Independent UK

Asian shares mixed after Fed hints rate hikes may end soon

Asian shares are mixed after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching rate hikes

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