Latest Jerome Powell News
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...
Editorial Roundup: United States
Excerpts from recent editorials in the United States and abroad: Aug. 25 The Washington Post on wildfires in the United States Maui officials should have known what was coming. In 2014, they were put on notice that highly flammable invasive grasslands...
Federal Reserve minutes: Too-high inflation, still a threat, could require more rate hikes
WASHINGTON (AP) — Most Federal Reserve officials last month still regarded high inflation as an ongoing threat that could require further interest rate increases, according to the minutes of their July 25-26 meeting released Wednesday. At the same time, the officials saw “a...
Supreme Court's student loan decision will lower US deficit according to new White House projection
WASHINGTON (AP) — The Supreme Court ruling that upended President Joe Biden's plan to forgive student loan debt changed his budget math, modestly lowering the projected deficit for this year, his budget office reported Friday. The White House expects to pare back $259 billion in...
Key question as Federal Reserve meets: Can the central bank pull off a difficult 'soft landing'?
WASHINGTON (AP) — When Chair Jerome Powell and other Federal Reserve officials gather this week for their latest decision on interest rates, they will do so on the cusp of achieving an elusive “soft landing” — the feat of curbing inflation without causing a deep recession. ...
Federal Reserve may tighten financial rules after US bank failures, Powell says
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Thursday that the central bank may have to tighten its oversight of the American financial system in the wake of the failure of three large U.S. banks this spring. Powell said in prepared remarks delivered at a banking...
