Latest Jerome Powell News
Powell: 'No guarantee' Fed can tame inflation, spare jobs
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can...
Asian shares track Wall St drop as inflation fears drag on
BANGKOK (AP) — Shares skidded in Asia on Wednesday after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession. U.S. futures edged higher while oil prices fell back. A...
Europe's central bank ready to 'stamp out' surging inflation
SINTRA, Portugal (AP) — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected. In a...
World shares mostly higher after wobbly day on Wall Street
BANGKOK (AP) — Global stocks were mostly higher Tuesday after a wobbly day on Wall Street as markets cooled off following a rare winning week. Oil prices pushed higher and U.S. futures also advanced. As they wrapped up a summit in Elmau, Germany, Group of Seven...
Asian shares gain, tracking Wall Street advance
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
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
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
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
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
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...
