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The Latest Breaking News from Jerome Powell

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

The U.S. economy has contracted for two straight quarters, intensifying fears that it is on the cusp of a recession, if not already in one, barely two years after the pandemic downturn officially ended

The Independent UK

Fed leaders pledge tough fight to keep inflation credibility

WASHINGTON— Federal Reserve leaders pledged the central bank would continue an aggressive fight to cool an inflation rate that’s at a four-decade high, even if higher rates cause the risk of recession.

Tribune News Service

Why Isn't The US Officially In A Recession?

The US has technically entered a recession in the second quarter 2022 as the economy contracted 0.9% year over year, following a 1.6% decline in the first quarter.

Benzinga

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Does A 'Recession' Mean 'Risk-On Session'?

Following last week’s compelling events, including the busiest week of Q2 earnings, latest FOMC meeting and Q2 GDP growth data, crypto finished July strong. Why did we see a huge rally last week?

Benzinga

Meet the Fed, the latest superpower to emerge from Washington's shadows

Few voters may be thinking of Jerome Powell as they go to the polls in November, but all will be coping with economic conditions strongly influenced by Powell's Federal Reserve Board.

WEKU

How strong is the US economy? Depends on which party you ask

Analysis: In spite of high employment and robust hiring, many Americans are pessimistic about the economy

The Guardian - US

High Inflation Impacting Average Americans The Most: How Will The Fed React To The Next Inflation Report?

In the month of June, U.S. households faced inflationary pressures not seen since the 1980s, causing consumers to spend more money on fewer goods. What Happened: On Friday, the Bureau of Economic Analysis reported a 1.1% increase in consumer spending, which correlates with the highest consumer price index recorded for…

Benzinga

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Two US cost gauges surpass estimates, stoking inflation concern

Two key U.S. inflation gauges posted larger-than-forecast increases on Friday, heightening concerns that prices will remain persistently high and prompt continued aggressive interest-rate increases from the Federal Reserve.

Tribune News Service

Stocks, Bonds Rally On 'Neutral Rate' Optimism — Bill Ackman Warns These Expectations Are Misplaced

Billionaire hedge fund manager and Pershing Square Capital (OTCPK: PSHZF) CEO Bill Ackman explained through a series of tweets that a 2% borrowing rate is not neutral when inflation is trending around 9%.

Benzinga

A Lot Of Smart People And Jim Cramer Read Inflation Situation Wrong, Comedian John Oliver Says

A late night comedian has taken aim at CNBC host and stock market personality Jim Cramer over his flip flopping on inflation and being wrong on how bad things really are. Here’s what John Oliver had to say.

Benzinga

US economy shrinks for a second quarter, fueling recession fears

The drumbeat of recession grew louder after the U.S. economy shrank for a second straight quarter, as decades-high inflation undercut consumer spending and Federal Reserve interest rate hikes stymied businesses and housing.

Tribune News Service

Yellen insists US not in recession as economy shrank 0.9 per cent in second quarter

Two negative quarters meets the informal definition of recession but many economists disagree

The Independent UK

When does a recession begin – and is the US in one now?

Question weighs on consumers, politicians and investors around the world as the Federal Reserve raises interest rates

The Guardian - US

US economy shrinks in second quarter, signaling unofficial start of recession

The bad news will be a major blow for the Biden administration as it prepares for a tough midterm election season

The Guardian - US

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The Times of India

Sensex jumps 1,041 points, Nifty settles at 16,930: Top reasons behind today's surge

NEW DELHI: Equity indices extended gains for the 2nd straight session on Thursday and surged to 3-months high, led by gains in finance, metal and IT stocks.

Benzinga

Dogecoin Daily: Price Gets Momentum From Fed Rate Hike, Shibes Take Shots At Bitcoin

Dogecoin (CRYPTO: DOGE) traded 7% higher at $0.07 over 24 hours leading up to early Thursday. DOGE moved higher in tandem with other major coins as the global cryptocurrency marketcap shot up 8.4% to $1.06 trillion.

Axios

Powell: No recession right now, but anything's possible

Closely watched economic figures come out this morning.

The Independent UK

US economy likely grew modestly, if at all, last quarter

After going backward from January through March, the U.S. economy probably didn’t do much better in the spring

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The Independent UK

Asian shares, oil prices mostly higher after Fed rate hike

Shares are mostly higher in Asia after the Federal Reserve ratcheted up its campaign against surging inflation by raising its key interest rate three-quarters of a point

The Independent UK

US not yet in recession and 4 other takeaways from the Fed

Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve is laser-focused on taming it with higher borrowing costs

Benzinga

Summer Crypto Relief Rally Finally Here? Trader Sees Bitcoin At $30,000, Ethereum At $2,400

Major coins rose sharply after the U.S. Federal Reserve’s policy meeting concluded on Wednesday. The global cryptocurrency market cap rose 8% to $1.05 trillion at press time.

The Conversation

A hawkish Fed signals further rate hikes and sees a slowing economy – but not recession

The U.S. Federal Reserve hiked its benchmark interest rate by a further three-quarters of a percentage point on July 27, 2022.

ABC News

US hikes rates 0.75pc again amid ongoing inflation surge 'surprise'

Wall Street has surged after Federal Reserve chair Jerome Powell hinted rate hikes could ease, with the Australian share market following.

Bangkok Post

Fed's rate rises might have way to go yet

By the time this article is published, readers will know how much the US Fed funds rate has been raised for the fourth time this year. It does not really matter whether the rate is raised by 0.75% or 1% this time because the Fed will need to keep raising…

Benzinga

Experts React To 0.75% Fed Rate Hike: 'Don't Think They Will Pause'

The Federal Reserve raised its target fed funds rate by 0.75% on Wednesday to a new range of between 2.25% and 2.5%, its second 0.75% rate hike in two months.

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