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The Latest Breaking News from Jerome Powell

The Fed's Preferred Inflation Number Is Coming Friday: PCE Preview

An important inflation reading for the Federal Reserve is coming Friday, with the Bureau of Economic Analysis set to release the Personal Consumption Expenditures (PCE) price index data for August.

Benzinga

How do we know when a recession has begun? Looks for these signs

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

OLD EXPLAINER: How do we know when a recession has begun?

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession

The Independent UK

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Surprise! Jobless Claims Fall To Lowest Levels Since April: What You Need To Know Now

U.S. initial jobless claims unexpectedly fell last week to the lowest levels since April, signaling the labor market remains resilient despite continued rate hikes from the Federal Reserve.

Benzinga

Peak oil has finally arrived. No, Really

I’ve rarely felt more trepidation about writing a column than this one. But here goes: After more than a century of almost continual growth, the world’s appetite for oil is peaking, and will soon enter terminal decline.

Tribune News Service

Memories of the 1970s haunt the Fed, pushing its aggressive rate moves

The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.

WEKU

Financial markets are a mess around the world. Fingers are pointing at the Fed

Customarily, the Fed and other central banks do as much as they can to keep markets calm. This time they're the reason behind the volatility.

WEKU

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Is a global recession coming? More experts are raising the alarm

Figures including the head of World Trade Organization and Paul Krugman are expressing concern about economic outlook.

Al Jazeera

Bitcoin, Ethereum, Dogecoin Slip: Analyst Says Apex Crypto's Stabilization 'A Welcome Sign' Despite Lack Of Catalyst

The two largest coins were in the red Tuesday evening, as the global cryptocurrency market cap slipped 0.6% to $933 billion at 8:12 p.m. EDT.

Benzinga

A global recession looks increasingly likely – but here’s how Australia could escape it

If the US pushes up interest rates to the point where it’s about to bring on a recession, Australia would be well advised to stand back and not lift rates

The Guardian - AU

Fed's Powell urges broader regulation for stablecoins

Federal Reserve Chair Jerome Powell said that stablecoins will need greater regulation as they become more widely used by consumers

The Independent UK

A global recession looks increasingly likely – but here's how Australia could escape it

Global stock markets are tanking on fears of recessions in the US, the UK and Europe, and the OECD is actually forecasting recessions in Europe.

The Conversation

Cathie Wood Says Powell's 'Sledgehammer' To 'Slay' Inflation Way More Powerful Than Volcker's In 1980s: 'Fed Could Undermine Its Legacy'

Cathie Wood, the founder of ARK Investment Management, has said the current U.S. monetary policy is significantly more restrictive than in the 1980s when, to kill inflation, former Federal Reserve Chair Paul Volcker had pushed the Fed funds rate up two-fold from 10% to 20%.

Benzinga

Michael Hiltzik: Painful signs emerge that Fed is moving too far, too fast with aggressive rate increases

We have a term for the intentional infliction of pain on others: cruelty. So what are we to make of the Federal Reserve Board?

Los Angeles Times

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Benzinga

How The FOMC Announcement Affected The Major REITS

Investors sold off shares in major real estate investment trusts (REITs) sold off after Federal Reserve Chairman Jerome Powell announced Wednesday that benchmark interest rates would go up by 0.75% to 3% and 3.25%.

WEKU

Stock markets drop as Wall Street takes a gloomy view of the economy

The Dow dropped more than 450 points to close at the lowest level since November 2020.

Tribune News Service

Jonathan Levin: Fed splits the difference on labor market pain

The Federal Reserve is inching toward acknowledging how painful its inflation fight is likely to be, but it’s still a lot closer to the optimists than the pessimists.

Bangkok Post

Asian bourses slip after Fed hike

Many Asian stock exchanges deepened their losses on Thursday as currencies tanked after the US Federal Reserve delivered a third consecutive 75-basis-point interest rate cut overnight and signalled more to come through next year, sparking fears of recession.

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StockNews.com

2 Stocks You Should Take off Your Watchlist This Fall

The central bank has dished out another 75 basis-point rate hike in its efforts to tame the decades-high inflation. With a recession expected to hit the economy soon, fundamentally weak stocks Snap (SNAP) and Palantir Technologies (PLTR) might be best avoided. Read on….

Axios

The Fed says this is going to hurt, but it matters who feels the pain

Higher unemployment could be on the way, the central bank suggests.

The Independent UK

More Americans apply for jobless aid

The number of Americans filing for jobless benefits rose slightly last week despite the Federal Reserve’s year-long battle against inflation that’s intended to cool the economy and the tight labor market

Bangkok Post

Crude oil prices fall amid recession concerns

PTT reveals Q3 oil analysis

Tribune News Service

Commentary: The Fed’s monetary malpractice will cost you

The goal of the latest interest rate hike from the Federal Reserve? To avoid a deep recession “by acting with resolve now,” according to Fed Chairman Jerome Powell. But if history is any guide, this is a case of too little, too late.

The Guardian - UK

Bank of England says UK in recession as it raises interest rates to 14-year high of 2.25% – business live

UK central bank predicts economy shrank for second quarter in a row, after shops closed and many stayed at home for Queen Elizabeth II’s state funeral

The Independent UK

Asia stocks follow Wall Street down as Fed fights inflation

Asian stock markets have followed Wall Street lower after the Federal Reserve delivered another big interest rate hike and raised its outlook for more to cool galloping inflation

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