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The Latest Breaking News from Jerome Powell

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

Benzinga

Asian markets higher ahead of Fed rates decision

Asian stock markets are mostly higher ahead of what is expected to be a Federal Reserve decision this week to raise interest rates again

The Independent UK

Treasury market rally faces reality check as Powell sets path

The optimism that has crept into the U.S. bond market is about to be put to the test.

Tribune News Service

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Fed seen aggressively hiking to 5%, triggering global recession

Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a U.S. and global recession, economists surveyed by Bloomberg said.

Tribune News Service

Buckle Up For 2023: Inflation Is Still Rampant, New PCE Data Shows

U.S. inflation, as measured by the Federal Reserve's preferred Personal Consumption Expenditures (PCE) Price Index, remains unchanged at 6.2% annually in September, according to the Bureau of Economic Analysis.

Benzinga

'Pivot Language' From The Federal Reserve Could Be Coming Next Week: What You Need To Know Before The Fed's Next Meeting

A pivot from the Federal Reserve could be coming sooner than most are anticipating, even as the labor market continues to show strength.

Benzinga

US Jobless Claims Rise Slightly, GDP Tops Expectations Ahead Of Fed's November Interest Rate Decision

U.S. initial jobless claims ticked higher last week, but came in below economist estimates and still remain near historically low levels.

Benzinga

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Let These 3 Stocks Lead You Through the Bear Market

Gloomy earning guidance halted the S&P 500’s three-day winning streak. Moreover, a recession seems apparent as the U.S. economy battles sky-high inflation, aggressive rate hikes, and geopolitical headwinds. With the bear market not over yet, we think fundamentally strong stocks Walmart (WMT), Cisco Systems (CSCO), and Vertex Pharmaceuticals (VRTX) might…

StockNews.com

Jerome Powell Gets Reminder From Senator Brown Ahead Of Fed Meet: 'Don't Forget Your Responsibility To Promote Maximum Employment'

The Chair of the Senate Committee on Banking, Housing, and Urban Affairs, Sherrod Brown, has sent a letter to Federal Reserve Chair Jerome Powell, reminding him about the central bank’s dual mandate and asking him not to forget his responsibilities to

Benzinga

Can Congress buy in to digital dollar without legislation?

WASHINGTON — The White House’s exploration of a government-backed digital dollar is raising an implicit question that has received little attention: What role does Congress have in the decision?

Tribune News Service

Can Congress buy in to digital dollar without legislation? - Roll Call

The Fed says it needs congressional support to issue a digital currency, but it's unclear whether it has to be in the form of legislation.

Roll Call

Latest US inflation data raises questions about Fed’s interest rate hikes

Experts say raising rates ‘isn’t working’ and that the real culprits are corporate pricing, energy costs and supply chain

The Guardian - US

US prices rise in September as midterm elections loom

Inflation rate stubbornness will likely spark a further increase to interest rates which could come in early November

The Guardian - US

Treasurer Jim Chalmers warns of US recession prior to meeting with G20 counterparts

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.

ABC News

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Benzinga

The Fed Is Skating To Where The Puck Was: Comparisons To Volcker's 1980s Inflation Are 'Conceptually Wrong,' Says This Economist

Unbeknownst to many, the gift for the 43rd anniversary of marriage is entertainment; to stretch it further, this fall marks the 43rd anniversary of a pivotal event in the history of the Federal Reserve and the U.S. economy.

Zenger

What Does Prophetic Paul Tudor Jones Have To Say About Economic Future

Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession.

Benzinga

Paul Tudor Jones Correctly Predicted The 1987 Stock Market Crash: Here's What The Billionaire Hedge Fund Manager Says Is Coming Next

Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession.

WEKU

When your seatmate on the plane talks about the Fed, you know things aren't right

The woman next to me, who described herself as knowing "zero" about the economy, asked whether I thought the Federal Reserve would continue raising interest rates. I felt an acute sense of dread.

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The Guardian - US

Don’t be fooled: policymakers are quietly invoking austerity by other names

Framing monetary policy as a war effort has been part of the playbook for instituting austerity policies for over a century

The Independent UK

US hiring likely slowed last month (which may be good news)

The piping-hot U.S. job market may be cooling off, if only slightly

Benzinga

Friday's Jobs Number Could Move Markets: What You Need To Know

A potentially pivotal economic indicator is coming Friday via a monthly jobs report. Here's what you need to know ahead of the number.

Tribune News Service

Home prices decelerating by record amount, according to new report

Could housing prices finally be coming back down to earth? Year-over-year home-price growth decelerated at a record-setting pace in July 2022. S&P CoreLogic’s latest Case-Shiller U.S. National Home Price NSA Index, released September 27, reports that price growth dropped by 2.3% from June to July — from 18.1% to 15.8%.

France 24

'The Federal Reserve is doing a bad job': Economist Steve Hanke

Federal Reserve Chair Jerome Powell says he won't cause a deep recession but that "pain" is necessary to fight inflation. To curb the largest price increases in four decades, the US Federal Reserve has been raising interest rates this year. "The Fed is doing a bad job because they don't…

Benzinga

Major Drop In US Job Openings, Will The Fed Now Pivot? Don't Bet On It

Global bonds and equities are rising in anticipation that the Federal Reserve will reconsider the aggressive tightening of monetary policy that some fear may contribute to the start of a global recession, but history says the Fed may do

The Independent UK

Top US regulators say crypto poses financial stability risks

Top regulators are recommending a series of new safeguards to ensure that a growing and unregulated cryptocurrency market doesn’t imperil U.S. financial stability

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