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The Latest Breaking News from Jay Powell

Are interest rates really going to keep rising sharply?

For anyone trying to understand where interest rates and inflation are heading, it has been a strenuous few days. Jay Powell, chairman of US central bank the Federal Reserve, warned senators he may have to do more to fight inflation than expected, indicating the prospect of interest rates rising more…

The Conversation

World’s largest asset manager warns Fed may not stop hiking until rates hit 6%

Should BlackRock’s prediction prove true, borrowing costs would hit their highest level since 2001.

Fortune

Bond traders haven’t been this scared of a recession since 1981

It’s time to brush up on yield curve inversions (again). They’ve predicted every recession since 1955.

Fortune

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Wall Street’s most successful hedge fund just politely told the Fed to shut up

Citadel's Ken Griffin said the Fed cannot work magic, so it must avoid making its job of tackling inflation harder by confusing markets.

Fortune

The most influential figure in America’s economy earns just $190,000 a year—and he says that’s fair

The chair of the Federal Reserve has a more immediate impact on investement, employment and asset prices than anyone else, and yet CEOs would scoff at his take home pay.

Fortune

Editorial: Getting Fed up: Federal Reserve’s continuing rate hikes may be too much

The Federal Reserve shocked no one Wednesday when it announced another 25 basis-point hike to interest rates. Yet our lack of surprise doesn’t mean a lack of questions about the central bankers’ continuing anti-inflation warpath.

Tribune News Service

Layoffs are the medicine America needs to take to break out of inflation’s vicious circle, says former Walmart U.S. CEO

More job losses across the economy are necessary to break the ongoing wage-price spiral, a danger the bricks-and-mortar employer itself is risking with its recent pay hike.

Fortune

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JP Morgan warns of gloomy job market ahead as the economy 'slips into a recession'

Hopes for a Fed pivot are premature, as Jay Powell has not succeeded yet in anchoring inflation expectations.

Fortune

What to read (and gift): Capitol Hill insiders share their favorite books of 2022 - Roll Call

Books are the ultimate power gift in political Washington, so we asked some people with impressive-sounding job titles for their picks.

Roll Call

Fed chair Powell on the U.S. labor shortage: COVID, retirements, missing immigrants

Close to half a million working-age people lost their lives to COVID.

Axios

Why Fed Chair Jay Powell is the man to watch in 2023

Recession fears may not be overwrought so much as premature.

Fortune

Fed chair Jay Powell explains America's worker shortage

America is still missing 3.5 million workers.

Axios

Aging boomers are making it harder to tame inflation

Older Americans aren’t returning to the workforce, and that has major implications for inflation and the U.S. economy long term.

Fortune

Fed Chair Jerome Powell is on a high-stakes mission to tame inflation. Some insiders fear he’ll go too far. Others fear he won’t go far enough

The Federal Reserve chairman has sworn to fight runaway price increases, but Powell's critics fear he’ll cave in to political pressure before he wins the battle.

Fortune

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Fortune

The Fed risks a 1920s-style Great Depression, warns ARK Invest's Cathie Wood

The celebrated ARK Invest founder warns the Fed is moving too quickly this year.

Tribune News Service

Editorial: In the economy’s interest: Federal Reserve is right to suggest slowing rate hikes

Economies are not known for being simple things to untangle. Unlike in the physical sciences, where if you do enough calculations, you can shoot a projectile into an asteroid moving at an incredible speed 7 million miles away, the so-called laws of money deal with the hazier and less predictable…

Financial Times

The Fed’s dilemma: how long to ‘keep at it’ on inflation

Amid conflicting economic signals and with midterms looming, the US central bank weighs a critical decision over interest rates

Benzinga

Fed Raises Rates 0.75% For Third Straight Time: 'We Will Keep At It Until We're Confident The Job Is Done'

The SPDR S&P 500 (ARCA:SPY) is volatile after the Federal Reserve on Wednesday raised its benchmark rate by 0.75% for the third straight time and indicated that it will continue to hike well above the current level.

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Newsroom.co.nz

Markets charge higher despite the prospect of further rate hikes

The NZX50 records its first weekly ‘three-peat’ in a year, notching up a third consecutive week of gains to close at a 3-month high

Financial Times

The mystery of how quantitative tightening will affect markets

Central banks are starting to shrink their balance sheets, but fund managers say they have no clue as to how QT will play out

The Guardian - UK

UK inflation rises to fresh 40-year peak of 9.1% as cost of living crisis worsens – as it happened

Higher food, energy and record petrol prices push up inflation in May, as bread, cereal and meat become more expensive

Benzinga

It's Time to Take Powell At His Word

No more lip service from you, Jay Powell. The Chairman of the Federal Reserve has notably been sanguine about inflation, the economy and the potential for creating a massive bubble that may be impossible to retreat from. Words are words, action is action. And frankly all one has to point…

Tribune News Service

Biden to stress Fed independence in Powell meeting, Deese says

President Joe Biden will use his meeting with Federal Reserve Chairman Jay Powell to stress that he’s giving the central bank “space to operate” independently to address the inflation crisis, White House economic adviser Brian Deese said.

Benzinga

DraftKings Stock Falls To 52-Week Low: What's Going On?

DraftKings Inc (NASDAQ: DKNG) shares closed Thursday down more than 7% at new 52-week lows.

Benzinga

What's Going On With Plug Power Stock?

Plug Power Inc (NASDAQ: PLUG) shares closed Thursday down nearly 15%. The stock fell alongside several names in the broader industrials sector amid overall market weakness following U.S. Fed chair Jay Powell's hawkish rate hike commentary.

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