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The Latest Breaking News from Jerome Powell

The U.S. jobs market continues its strong comeback from the pandemic

U.S. employers added 428,000 jobs in April, as the unemployment rate held steady at 3.6%.

WEKU

The Week Ahead: Hoping for a turn in inflation trend, Fed will fight on

Now that the Federal Reserve has polished up its inflation-fighting credentials, has consumer inflation topped out?

Miami Herald

$57 billion wiped from Australian market, Wall Street rout as Dow plunges 1,000 points, Nasdaq loses 5pc

The ASX plunges by nearly $60 billion after Wall Street stocks plummet, as investors worry about the need for larger interest rate increases to stem inflation, while the Bank of England raises rates for a fourth time.

ABC News

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US stocks see worst day this year as Fed rate hike rattles investors

Dow falls 3.1% a day after the Fed chair announces biggest hike in two decades to combat inflation

The Guardian - US

Stocks dive as fears about the economy intensify

The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.

WEKU

The Dow Jones tumbles over 1,100 points as fears about the economy intensify

The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.

WEKU

The Satanic Temple: If Christians Can Raise Flag at Boston City Hall, We Can Raise Ours Too

Plus: The push to abolish the Senate, Feds hike interest rates by 0.5 percent, and more...

Reason

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Falling jobless rate is set to complicate Fed’s inflation fight

The U.S. unemployment rate probably fell to 3.5% in April, matching the lowest reading since the 1960s, and many economists expect it to keep declining — potentially complicating the Federal Reserve’s fight against inflation.

Tribune News Service

Asian, European markets rise as US Fed eases fears of huge rate hike

Markets rallied Thursday after the US Federal Reserve played down chances of a huge interest rate hike in the near future, while oil extended gains as the European Union moved to ban imports from Russia.

Bangkok Post

Pound tumbles to two-year low as stagflation fears rise – as it happened

Sterling tumbles to lowest since June 2020 as Bank of England lifts interest rates to 13-year high, cuts growth forecasts, and sees inflation hitting 10%

The Guardian - UK

Asian stocks rise after Fed chair downplays bigger rate hike

Asian stock markets have followed Wall Street higher after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S. central bank’s biggest increase in two decades

The Independent UK

Asian shares rise as US Federal Reserve strikes less hawkish tone

Rally comes after Fed Chair Jerome Powell says central bank not “actively considering” 0.75 percentage point increase.

Al Jazeera

Bitcoin, Ethereum, Dogecoin Rally After Fed Hikes Rates As Expected: Why This Analyst Thinks It's A 'Fakeout' Rather Than Breakout

Bitcoin traded higher and hovered just under the psychologically important $40,000 mark on Wednesday evening as the global cryptocurrency market cap shot up 5.5% to $1.8 trillion.

Benzinga

Powell Says More Hikes Are Likely Coming, But US Economy Is 'Well Positioned' To Handle Them

Federal Reserve Chairman Jerome Powell had some relatively soothing words for the markets after the Fed on Wednesday raised its target fed funds rate by 0.5% to a new range of between 0.75% and 1.0%.

Benzinga

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Axios

The Fed is putting America's inflation problem on its shoulders

Chair Jerome Powell addressed the American public directly, and owned the current situation

WEKU

The Dow rallies to its best day since 2020 after the Fed rules out larger rate hikes

Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.

ABC News

Federal Reserve hikes official interest rates by 0.5 per cent, ASX rises, Dow Jones jumps 900 points

The US Federal Reserve has increased official interest rates by 0.5 per cent and flagged that more such rises are likely. Meanwhile, the Australian market has followed Wall Street higher.

Tribune News Service

Stock bulls get reprieve as Powell signals a limit to austerity

Under no pressure to throw investors a bone, Jerome Powell nevertheless did, igniting the biggest stock market rally on the day of a Federal Reserve meeting in a decade.

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France 24

US Federal Reserve hikes interest rates to tackle inflation

The US Federal Reserve has hiked interest rates by half a percentage point - double its usual rate - to tackle the country’s highest level of inflation in 40 years. Fed Chairman Jerome Powell said it was 'essential' to lower inflation and reduce hardship for American families. Thomas Costerg, Senior…

WEKU

The Fed raises interest rates by the most in over 20 years to fight inflation

The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.

The Guardian - US

Federal Reserve announces biggest interest rate hike since 2000

Benchmark interest rate raised 0.5 percentage points, with more rises expected

Axios

Fed raises rates half a percentage point

The central bank also signaled more rate increases are on the way.

Axios

The Fed gets serious about tighter money

In a meeting Wednesday, the central bank will begin a more aggressive campaign against inflation

Tribune News Service

Stuart Rothenberg: Inflation, recession and the 2022 midterms

With six months to go until the 2022 midterm elections, the economic indicators continue to deteriorate for Democrats. While unemployment remains low and the economy continues to grow (except for a recent hiccup that few take seriously), inflation is up dramatically, and interest rates are spiking.

Roll Call

Inflation, recession and the 2022 midterms - Roll Call

The current economic issues of inflation and low growth could put Democrats at a disadvantage in the 2022 midterms.

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