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The Latest Breaking News from Jerome Powell

Stocks Set to Open Mixed as Investors Weigh Fed Comments and Economic Outlook, Apple Earnings on Tap

June S&P 500 futures (ESM23) are down -0.04%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.20% this morning after three major U.S. benchmark indices ended the regular session in the red as market participants digested Federal Reserve Chair Jerome Powell’s comments following the central bank’s widely expected 25…

Barchart

Corporate Earnings Show Consumer Companies Have Pricing Power

Higher interest rates haven’t stopped shoppers from spending, in a worrying sign for inflation.

Businessweek

Asian stocks shrug off latest Fed hike

Asian stocks and US futures edged higher on Thursday as investors brushed aside US Federal Reserve comments that interest rates won’t fall this year and instead looked ahead to eventual policy easing.

Bangkok Post

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Stock market today: Asian markets higher after US rate hike

Asian stock markets are mostly higher after the Federal Reserve raised its benchmark lending rate again to cool inflation and said it isn’t sure what may come next

The Independent UK

Federal Reserve can’t protect US economy from debt default: Jerome Powell

WASHINGTON: Federal Reserve Chair Jerome Powell said the failure to raise the US government debt limit would be unprecedented and have highly uncertain and negative effects on the economy.

The Times of India

Markets as it happened: ASX closes down as US Federal Reserve raises interest rates

Australian shares closed down weighed down by bank stocks. NAB reports cash profit jump of 17 per cent but its shares slumped as the result was below market expectations.The US Federal Reserve raised interest rates by another 0.25 of a percentage point. Keep up with market events and insights from…

ABC News

US central bank lifts rates to highest in 16 years

The Federal Reserve has raised interest rates by a quarter of a percentage point and signalled it may pause further increases.

The New Daily

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Fed Lifts Interest Rates Yet Again: What the Experts Are Saying

Although the Fed raised interest rates for a 10th consecutive meeting, it finally opened the door to a pause in its tightening campaign.

Kiplinger

The Fed raises interest rates again in what could be its final attack on inflation

The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.

WEKU

Fed likely to hike rates again as bank fears resurface

WASHINGTON: The US Federal Reserve is widely expected to raise its benchmark lending rate for a 10th — and possibly final — time on Wednesday, as it aims to bring down inflation while preventing fresh banking concerns from spreading.

Bangkok Post

SVB's collapse shows Fed failure to supervise banks

The aftershocks of the collapse of Silicon Valley Bank (SVB), while seemingly fading, are still reverberating around the world. Although Federal Reserve officials have taken pains to assure the public that the US banking system is sound, it is unclear why anyone should believe them. After all, Fed Chair Jerome…

Bangkok Post

Fed is set to raise rates yet again. After that, then what?

The Federal Reserve is on track to raise its benchmark interest rate for the 10th time Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four decades

The Independent UK

JPMorgan created a Fed-whispering A.I. model to help investors stay on top of the market

Think ChatGPT, but for the weird things Jerome Powell says every couple months. It’s “a large language model tuned to central bank speak.”

Fortune

The Fed admits some of the blame for Silicon Valley Bank's failure in scathing report

The Federal Reserve says its own light-touch approach to bank regulation is partly to blame for the collapse of Silicon Valley Bank last month, and it promised more vigorous oversight in the future.

WEKU

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WEKU

Pranksters posing as Ukraine's president tricked the Fed chair into a phone call

The Fed chairperson was tricked into an extended phone call in January with Russian pranksters posing as Ukraine's president, during which the discussion focused on the impact of interest rate hikes.

The Independent UK

Fed's Powell was tricked by fake call from Russia pranksters

Federal Reserve Chair Jerome Powell was tricked into an extended phone call in January with Russian pranksters posing as Ukrainian President Volodymyr Zelenskyy, during which Powell appeared to discuss the impact of interest rate hikes

The Guardian - US

Chair of US Fed prank-called by Russians pretending to be Zelenskiy

Jerome Powell appears to address inflation and Russian central bank in video broadcast on Russian state television

Fortune

The Western housing market recession hit so hard and fast that a Fortune 500 firm that was riding high at $34 per share has crashed to $1

"They [Opendoor] are taking huge losses, and as buying agents, we are all testing their pain threshold" says Chris Davis, a real estate agent in Phoenix.

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Caixin Global

PBOC Chief and Fed Chair Hold First In-Person Meeting Since 2019

Central bank Governor Yi Gang also confers in Washington with G-20 officials and Bank of Japan chief amid World Bank and IMF meetings

Fortune

A veteran volatility trader known for nailing the market’s recent twists and turns warns the Fed still needs to suck ‘the wealth effect’ out of stocks

Cem Karsan warned Thursday that the Fed will have to “start talking the market back down” in May in order to control inflation.

Fortune

‘Other things will break.’ Legendary investor Jeremy Grantham warns of more financial chaos and wants to see Powell ‘channel a little bit of Volcker’

Jeremy Grantham predicted the financial crisis in 2008. Now, he thinks the financial system could expect more chaos after the two banks failed in March.

The Guardian - US

US inflation at 5%, the lowest it has been since 2021

Monthly consumer price index shows US prices increased at a lower rate in March, though core inflation remains steady

Fortune

3 signs the labor market is rebalancing in a way that could prevent a recession, according to Goldman Sachs

Goldman’s David Mericle sees “encouraging news about the prospects for achieving the gentle rebalancing of the labor market needed for a soft landing.”

Zenger

Friday’s Jobs Data Likely To Shift Market Odds For Fed’s Next Interest Rate Decision

Key jobs data is due Friday and recent numbers suggest the labor market may be starting to roll over

The Independent UK

US adds 236,000 jobs in March as unemployment rate remains little changed

The lower job numbers come as a hot labour market cools down amid increasing interest rates

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