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The Latest Breaking News from Jerome Powell

Deeper US recession looms as resilient labor market spurs Fed

The odds of a U.S. recession are rising. And the chances it will be mild are falling.

Tribune News Service

US jobless claims hold near historic low despite cooling economy

Applications for US unemployment insurance last week fell slightly, hovering around historically low levels as the labor market holds strong despite a weakening economy.

Tribune News Service

US Jobless Claims Still At Historic Lows, But Will Fed's Rate Hike Spur Layoffs?

U.S. initial jobless claims ticked lower last week, but not by much. Unemployment insurance filings still remain near historically low levels.

Benzinga

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read the most diverse news in one place.

The Fedspeak behind Wednesday’s markets roller coaster

Markets whipsawed in the aftermath of another 0.75 percentage point rate hike on Wednesday.

Axios

US Stocks In For Another Tough Day After Fed Rate Hike As Nasdaq, S&P 500 Futures Fall — Roku, Qualcomm Plunge On Earnings Disappointment

The U.S. index futures are pointing to a lackluster start on Wall Street Thursday, as rate worries linger. On Wednesday, the major averages experienced a bout of volatility in the aftermath of the Fed decision and closed notably lower. The market showed tentativeness in the run up to the Fed…

Benzinga

First Thing: Biden urges Americans to take a stand against political violence

President asks voters to reject election-denying candidates in midterms to ‘preserve democracy’. Plus, can Twitter survive Elon Musk?

The Guardian - UK

How Jerome Powell Swung The Market Pendulum As He Went From 'Dovish' And 'Pivot' To Most 'Hawkish'

What a difference a day can make! This rang true for the market, which went from euphoria to despair within a day.

Benzinga

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UK in ‘prolonged recession’ as Bank of England hikes interest rates to 3%, knocking pound – as it happened

Bank of England has made its biggest interest rate rise in three decades, but signals rates won’t rise as high as markets had expected

The Guardian - UK

Larry Summers Is All Praise For Fed's Powell: 'Framed Issues Right, Pointed Toward Appropriate Policy'

Former Treasury Secretary Lawrence H. Summers has praised Federal Reserve Chair Jerome Powell for his policy stance stating the apex bank head has framed the issues correctly.

Benzinga

A GOP-Led Congress May Focus on Owning the Libs. Instead, It Should Focus on Owning Inflation.

If the midterms favor Republicans, their top priority needs to be the fight against inflation—whether or not they feel like they created the problem.

Reason

Powell: Rate hikes may slow, but inflation fight hardly over

Federal Reserve Chair Jerome Powell sought to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections

The Independent UK

Apple, Amazon, Tesla, Ford, AMD: Hawkish Fed, COVID-19 Woes Spur Retail Interest In These Stocks Today

Major Wall Street indices closed over 1.5% lower on Wednesday after witnessing a volatile session during Federal Reserve Chair Jerome Powell’s policy announcement.

Benzinga

ASX falls sharply, Wall Street slumps as Federal Reserve keeps raising rates aggressively

Australian shares close sharply lower, after the US Federal Reserve delivers another 0.75-of-a-percentage-point rise and gives no indication of when they will stop, sending Wall Street tumbling.

ABC News

Why The Fed's Language On Interest Rates Is Moving Markets Wednesday: 'We Will Stay The Course Until The Job Is Done'

The SPDR S&P 500 (NYSE: SPY) is volatile Wednesday afternoon after the Federal Reserve raised its benchmark rate by 0.75% for the fourth&

Benzinga

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Al Jazeera

US Fed delivers big rate hikes, signals next one could be smaller

It took note of the still-evolving impact that its rapid pace of rate hikes has set in motion.

The Independent UK

Federal Reserve announces fourth straight interest rate hike to combat inflation

Federal Reserve Chairman Jerome Powell warns ‘we still have some ways to go’ on curbing inflation

Chicago Sun-Times

Fed unleashes another big interest rate hike but hints at a pullback

The Fed’s move raised its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years. It was the central bank’s sixth rate hike this year.

Tribune News Service

Powell sees higher peak for rates, path to slow tempo of hikes

Federal Reserve Chair Jerome Powell opened a new phase in his campaign to regain control of inflation, saying US interest rates will go higher than previously projected, but the path may soon involve smaller hikes.

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Tribune News Service

Fed hikes again by 75 basis points, hints at entering end phase

Federal Reserve officials delivered their fourth straight 75 basis-point interest-rate increase while also signaling their aggressive campaign to curb inflation could be approaching its final phase.

The Independent UK

How steep fed rate hikes affect your finances

Mortgage rates continue to jump, home sales slump and credit cards and auto loans increase

Benzinga

Wall Street Braces For Another 0.75% Interest Rate Hike Wednesday After Private Payrolls Growth Comes In Hot

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded lower by 0.5% on Wednesday morning morning ahead of a critical Federal Open Market Committee interest rat

WEKU

The Fed orders another jumbo interest rate hike. Many are wondering what's next

The Federal Reserve raised interest rates by another 0.75 percentage points Wednesday, as part of its ongoing effort to fight inflation. The big question is, what happens next.

The Independent UK

Powell likely to be pressed on whether Fed will slow hikes

Looming over the Federal Reserve meeting that ends Wednesday is a question of intense interest: Just how high will the Fed’s inflation-fighters raise interest rates — and might they slow their rate hikes as soon as next month

Benzinga

Analyst Sees S&P 500 Surging Over 10% Tomorrow If Fed Takes These 2 Actions

The market has started the week on a negative note after a strong October. The near-term direction of the market largely hinges on what the Fed’s monetary policy-setting arm — the Federal Open Market Committee — does on Wednesday.

Benzinga

Wall Street Expects Another 0.75% Interest Rate Hike This Week, But Timing Of Fed Pivot Is Key

The SPDR S&P 500 ETF Trust (NYSE: SPY) gave up some of its October gains on Monday morning ahead of a critical Federal Open Market Committee inte

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