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The Latest Breaking News from Jerome Powell

Federal Reserve hikes interest rates 0.75 per cent for second time in two months

Another ‘unusually large’ hike possible to tackle inflation, depending on data, but increases will likely slow, says Fed Chair Powell

The Independent UK

Bill Ackman Explains Why Inflation, Not Fed Rate Hike, Is Biggest Threat To US Economy

Billionaire hedge fund manager and CEO of Pershing Square Holdings Ltd. (OTC: PSHZF) Bill Ackman explained through a series of tweets that the biggest risk to the U.S.

Benzinga

Another big Fed rate hike is here to battle inflation. Economy hangs in balance

U.S. Federal Reserve raises rates for fourth time in 2022, this time by another three-quarters of a percentage point to battle inflation. It's at a size and pace we haven't seen since the 1980s.

WEKU

From analysis to the latest developments in health,
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EXPLAINER: How do we know when a recession has begun?

By one common definition, the U.S. economy is on the cusp of a recession

The Independent UK

Fed lacks systems to thwart Chinese information gathering - report

The Federal Reserve lacks adequate systems to counter a "malign" effort by China to gather inside information on the U.S. economy and monetary policy, according to a report that was prepared by Republican staff of the Senate Homeland Security Committee.

Reuters

The Fed faces new political pressure as economy slows

A new op-ed from Senator Warren is a sign of the political risks ahead.

Axios

Fed set to impose another big rate hike to fight inflation

Conflicting signs about the health of the U.S. economy have thrust the Federal Reserve into a difficult spot

The Independent UK

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The Fed's mission improbable: Beating inflation without causing a recession

Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.

WEKU

Manchin in driver’s seat again after inflation fears vindicated

WASHINGTON — Nearly a year ago, Sen. Joe Manchin wrote Fed Chair Jerome Powell to raise alarm that the central bank’s policies would overheat the economy, a fixation that made the West Virginia Democrat an outlier in his party.

Tribune News Service

Fed ethics inquiry clears Powell and Clarida trades

The Federal Reserve’s inspector general concluded that financial trades made several years ago by Chair Jerome Powell and Richard Clarida, then the vice chair, did not violate any laws or ethics rules

The Independent UK

Economists: More rate hikes won't help

After June's inflation numbers, the Fed is likely to push rates higher — at the risk of sparking a recession

Salon

EXPLAINER: Why US inflation is so high, and when it may ease

Inflation’s relentless surge didn’t merely persist in June

The Independent UK

Surging gas prices likely drove US inflation to 40-year high

U.S. inflation likely reached a new 40-year high in June, driven up by a spike in gas costs, more expensive food and rent, and pricier cars and hotel rooms

The Independent UK

The Fed risks looking backwards on inflation

This focus on inflation in the recent past could mean ignoring signs that inflation is already on track to come down.

Axios

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Bangkok Post

For Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s

Federal Reserve chairman Jerome Powell is raising interest rates at the fastest pace since the 1980s. That has been easy so far because rates are low and the economy has been strong.

Tribune News Service

Scott Burns: The consumer price index tells us nothing useful about housing inflation

In a masterpiece of understatement, Jerome Powell, chairman of the Federal Reserve, recently said: “I would say if you’re a homebuyer, or a young person looking to buy a home, you need a bit of a reset.”

The Independent UK

US hiring was likely solid in June despite recession fears

U.S. employers likely downshifted their pace of hiring in June, but to a level that remains solid despite heightened fears that the economy faces the growing risk of a recession

Los Angeles Times

Michael Hiltzik: You may not have noticed yet, but inflation has started to come down

For fans of code-breaking, Thursday morning’s Wall Street Journal home page provided plenty of material to perplex and entertain.

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Tribune News Service

Long, moderate and painful: What next US recession may look like

Recessions, like unhappy families, are each painful in their own way.

Reason

California Accidentally Leaked the Personal Data of Thousands of Licensed Gun Owners

Plus: America's falling murder clearance rate, the Fed wrestles with inflation, and more...

WEKU

It's been a vicious 6 months for stocks. Here's what the grim markets are signaling

All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.

Chicago Sun-Times

Federal Reserve chair Jerome Powell: ‘No guarantee’ Fed can tame inflation, spare jobs

Though economists worry that higher interest rates could push the nation into a recession, the Fed chair pointed to a strong labor market and said most households and businesses have healthy savings.

The Guardian - UK

UK will face worse inflation than other major economies, says Bank governor

Andrew Bailey said inflation would persist for longer than previously expected as petrol prices soar

The Independent UK

Powell: 'No guarantee' Fed can tame inflation, spare jobs

Federal Reserve Chair Jerome Powell said there’s “no guarantee″ the central bank can tame runaway inflation without hurting the job market

WEKU

Job cuts are rolling in. Here's who is feeling the most pain so far

Tesla, JPMorgan, Netflix, Redfin and Coinbase are among companies that are cutting jobs. While layoffs are contained to the hottest parts of the economy, there's fear they could spread elsewhere.

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