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The Latest Breaking News from Jerome Powell

Stock markets drop as Wall Street takes a gloomy view of the economy

The Dow dropped more than 450 points to close at the lowest level since November 2020.

WEKU

Jonathan Levin: Fed splits the difference on labor market pain

The Federal Reserve is inching toward acknowledging how painful its inflation fight is likely to be, but it’s still a lot closer to the optimists than the pessimists.

Tribune News Service

Asian bourses slip after Fed hike

Many Asian stock exchanges deepened their losses on Thursday as currencies tanked after the US Federal Reserve delivered a third consecutive 75-basis-point interest rate cut overnight and signalled more to come through next year, sparking fears of recession.

Bangkok Post

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2 Stocks You Should Take off Your Watchlist This Fall

The central bank has dished out another 75 basis-point rate hike in its efforts to tame the decades-high inflation. With a recession expected to hit the economy soon, fundamentally weak stocks Snap (SNAP) and Palantir Technologies (PLTR) might be best avoided. Read on….

StockNews.com

The Fed says this is going to hurt, but it matters who feels the pain

Higher unemployment could be on the way, the central bank suggests.

Axios

More Americans apply for jobless aid

The number of Americans filing for jobless benefits rose slightly last week despite the Federal Reserve’s year-long battle against inflation that’s intended to cool the economy and the tight labor market

The Independent UK

Crude oil prices fall amid recession concerns

PTT reveals Q3 oil analysis

Bangkok Post

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Commentary: The Fed’s monetary malpractice will cost you

The goal of the latest interest rate hike from the Federal Reserve? To avoid a deep recession “by acting with resolve now,” according to Fed Chairman Jerome Powell. But if history is any guide, this is a case of too little, too late.

Tribune News Service

Bank of England says UK in recession as it raises interest rates to 14-year high of 2.25% – business live

UK central bank predicts economy shrank for second quarter in a row, after shops closed and many stayed at home for Queen Elizabeth II’s state funeral

The Guardian - UK

Asia stocks follow Wall Street down as Fed fights inflation

Asian stock markets have followed Wall Street lower after the Federal Reserve delivered another big interest rate hike and raised its outlook for more to cool galloping inflation

The Independent UK

Powell's stark message: Inflation fight may cause recession

The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession

The Independent UK

Fed hikes interest rates for third time

According to business analysts, the Fed hasn't made a move against inflation quite this aggressive since the 1980s

Salon

US Fed hikes interest rate to highest level since 2008

Announcement sparks concern that fight to contain sky-high US inflation could tip the economy into a recession.

Al Jazeera

Powell signals more pain to come with Fed sending rates higher

Federal Reserve Chair Jerome Powell vowed officials would crush inflation after they raised interest rates by 75 basis points for a third straight time and signaled even more aggressive hikes ahead than investors had expected.

Tribune News Service

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news in one place.

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Tribune News Service

Fed delivers third-straight big hike, sees more increases ahead

Federal Reserve officials raised interest rates by 75 basis points for the third consecutive time and forecast they would reach 4.6% in 2023, stepping up their fight to curb inflation that’s persisted near the highest levels since the 1980s.

The Guardian - US

Fed raises interest rate by 0.75 percentage points as US seeks to rein in inflation

Third outsized rate increase in a row as central bank struggles to fight runaway inflation, increasing the cost of everything

Axios

Fed raises rates 0.75 percentage points, signals more to come

New forecasts show the central bank envisions a weaker economy in the coming years.

Benzinga

US Stocks Open Higher Ahead Of Fed Decision, Dow Jumps 175 Points

U.S. stocks traded higher this morning, with the Dow Jones gaining around 175 points on Wednesday. The Federal Reserve will announce its policy decision at 2:00 p.m. ET. The country’s central bank is widely expected to raise interest rates by 75 bps at the meeting. Fed Chairman Jerome Powell will…

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Evening Standard

Federal Reserve hikes US rates by 0.75% for third straight meeting

Bank of England in the spotlight after US central bank stops short of super-sized 1% hike

The Times of India

Explainer: What if US economy goes into recession? How it may impact India

NEW DELHI: The US Federal Reserve is expected to lift interest rates by three-quarters of a percentage point for a third straight time on Wednesday and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation.

Salon

Can Larry Summers please shut up now?

Former Harvard president has been playing inflation Cassandra on TV for months. Can we hear other views?

WEKU

Fed orders another super-sized interest rate hike as it battles stubborn inflation

The Federal Reserve raised interest rates by another 0.75 percentage points today, as it tries to control runaway prices. The central bank also signaled that additional rate hikes are likely.

The Independent UK

Asian shares decline ahead of Fed decision on interest rates

Asian shares have mostly declined as investors looked ahead to a widely expected interest rate hike by the U.S. Federal Reserve in its bid to squash the highest inflation in decades

The Guardian - US

Federal Reserve warns of ‘pain’ ahead as inflation surges

The US central bank is expected to announce a sharp rise in interest rates on Wednesday in an attempt to tackle the cost of living crisis

The Independent UK

AP News Digest 3 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

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