Latest Jerome Powell News
Fed's Powell notes inflation is easing but downplays discussion of interest rate cuts
WASHINGTON (AP) — Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said Friday. Speaking at Spelman College in Atlanta, Powell noted that consumer prices, excluding volatile...
Fed Chair Powell: Slower economic growth may be needed to conquer stubbornly high inflation
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market. Powell noted that inflation has cooled significantly from a year ago....
Fed's Powell gets an earful about inflation and interest rates from small businesses
YORK, Pa. (AP) — Federal Reserve officials typically gather many of their insights and observations about the economy from some of the top Ph.D. economists in Washington. On a visit Monday to York, Pennsylvania, Chair Jerome Powell got an earful from a group with a decidedly...
Stock market today: Asian shares track Wall Street's slump after Fed says rates may stay high in '24
Asian shares are lower, tracking a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought. Most regional markets fell more than 1%. U.S. futures and oil prices also declined. U.S. stocks slumped...
Fed keeps rates unchanged and signals optimism about a potential 'soft landing'
WASHINGTON (AP) — The Federal Reserve left its benchmark interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. The Fed's policymakers also signaled that they expect...
3 officials sworn in at Federal Reserve, as governing board reaches full strength
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell swore in three members of the central bank's governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bank's first Latina governor. The officials, all appointed...
