Latest Jerome Powell News

Asian shares gain, tracking Wall Street advance

Jun. 24, 2022 00:36 AM EDT

BANGKOK (AP) — Shares were higher in Asia on Friday, tracking gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses. Tokyo's Nikkei 225 index added 0.9% to 26,411.64 and the Kospi in Seoul jumped 1.8% to 2,356.38. Hong...

How major US stock indexes fared Thursday 6/23/2022

Jun. 23, 2022 16:34 PM EDT

Stocks shook off a midday slump and ended higher, keeping major indexes on track for weekly gains. Trading was wobbly throughout the day as investors remained focused on another day of testimony before Congress by Federal Reserve Chair Jerome Powell. The S&P 500, the Dow Jones...

Powell: Fed must convince public it can tame inflation

Jun. 23, 2022 13:45 PM EDT

WASHINGTON (AP) — As if their job weren't hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession. They also have a sales job on...

Asian stocks mixed after Wall St declines on growth worries

Jun. 23, 2022 00:14 AM EDT

BEIJING (AP) — Asian stock markets were mixed Thursday after Wall Street edged lower amid fears higher interest rates will chill global economic growth. Shanghai and Hong Kong advanced, while Tokyo and Seoul declined. Oil prices fell more than $2 per barrel to near $100. ...

How major US stock indexes fared Wednesday 6/22/2022

Jun. 22, 2022 16:33 PM EDT

Stocks gave up an afternoon gain and ended slightly lower on Wall Street Wednesday. Energy companies helped pull the market lower after crude oil prices sank. The S&P 500 fell 0.1%, the Dow Jones Industrial Average fell 0.2% and the Nasdaq lost 0.1%. The price of...

Powell: Fed aims to avoid recession but says it's possible

Jun. 22, 2022 15:11 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession. Testifying to the...

Asian shares mostly lower despite Wall St rally; eyes on Fed

Jun. 22, 2022 00:27 AM EDT

TOKYO (AP) — Asian shares were mostly lower Wednesday as markets shrugged off a Wall Street rally and awaited congressional testimony by Federal Reserve Chair Jerome Powell. Japan’s benchmark Nikkei 225 shed 0.2% to 26,206.68. Australia’s S&P/ASX 200 lost 0.2% to 6,508.40....

Fed's Powell facing rising criticism for inflation missteps

Jun. 21, 2022 17:06 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed. Inflation has proved...

How major US stock indexes fared Tuesday

Jun. 21, 2022 16:27 PM EDT

Stocks are ending higher on Wall Street Tuesday, clawing back some of the ground they lost last week in their worst weekly drop since the beginning of the pandemic. The S&P 500 rose 2.4%. It’s still 21.5% below the record high it set in January. The tech-heavy Nasdaq climbed...

Asian markets mostly lower; bitcoin steady at $20,000

Jun. 20, 2022 03:24 AM EDT

TOKYO (AP) — Asian markets were mostly lower Monday in cautious trading, while the price of bitcoin remained near $20,000. Shares fell in most Asian markets but rose in Hong Kong and India as worries over inflation and risks of a global recession from central bank efforts to bring...