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The Latest Breaking News from Jerome Powell

Senate confirms Powell to second term as Fed chairman - Roll Call

The Senate on Thursday confirmed Jerome Powell for a 2nd term as chairman of the Federal Reserve, the third Fed nominee confirmed this week.

Roll Call

US inflation slows from 40-year high

Consumer prices jumped 8.3% last month from 12 months earlier, the Labor Department said Wednesday.

Chicago Sun-Times

US inflation might have dipped last month from 40-year high

After a year of soaring prices for gas, food and other necessities, inflation may have eased slightly in April from a 40-year high, the first slowdown after seven consecutive months of worsening price increases

The Independent UK

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Senate confirms Lisa Cook as the first Black woman on the Federal Reserve Board

WASHINGTON — The Senate voted Tuesday to confirm Lisa Cook as the first Black woman to join the Federal Reserve Board.

Tribune News Service

Senate confirms Lisa Cook as the first Black woman on the Federal Reserve Board - Roll Call

The Senate voted Tuesday to confirm Lisa Cook for the Federal Reserve Board. She will be the first Black woman on the board.

Roll Call

Why Did The Nasdaq Index Fall 5% On Thursday?

The Nasdaq Composite Index, the benchmark for technology stocks in the US, fell to its lowest level since November 2020 on Thursday, May 5, which can be attributed to a number of factors, including lacklustre earnings from e-commerce firms like eBay (NASDAQ: EBAY) and macro-economic factors like the Federal R

Benzinga

15 Best Dividend Stocks Across These 3 Key Sectors

The Fed’s recent interest rate hike of 0.5% is the most significant in over 20 years. Chairman Jerome Powell expects several additional rate hikes through the end of 2022 and into 2023 amid the highest inflation the United States has seen since December 1981.

Benzinga

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EXPLAINER: Recession fears grow. But how high is the risk?

Inflation is at a 40-year high

The Independent UK

Congressional Democrats urge Dallas Fed to select a Latino for president

Twenty-two Democratic members of Congress are urging the Federal Reserve Bank of Dallas to appoint the first Latino regional president to fill the top position that’s been vacant since October.

Tribune News Service

3 Top-Quality Tech Stocks Rated 'Strong Buy'

Despite the continuing market correction, the Fed is largely optimistic about a resilient U.S. economy and a rebound in the coming quarters. So, quality tech stocks Playtika (PLTK), Genpact (G), and VMware (VMW) could be solid bets now. They are rated Strong Buys in our proprietary rating system. Read on.

StockNews.com

Dow drops 1,000 points on worst day since 2020 amid fears over economic recovery

The Nasdaq fell 4.99 per cent to finish at 12,317.69, its lowest closing level since November 2020

The Independent UK

US posts robust job gains while wage growth shows moderation

U.S. employment continued to increase at a robust pace in April and wage growth moderated, though a surprise drop in the participation rate suggests the labor market will remain exceedingly tight.

Tribune News Service

US job growth remains healthy

WASHINGTON: US employment continued to increase at a robust pace in April and wage growth moderated, though a surprise drop in the participation rate suggests the labour market will remain exceedingly tight.

Bangkok Post

The U.S. jobs market continues its strong comeback from the pandemic

U.S. employers added 428,000 jobs in April, as the unemployment rate held steady at 3.6%.

WEKU

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WEKU

The US jobs market continues its strong comeback from the pandemic

U.S. employers added 428,000 jobs in April, as the unemployment rate held steady at 3.6%.

Miami Herald

The Week Ahead: Hoping for a turn in inflation trend, Fed will fight on

Now that the Federal Reserve has polished up its inflation-fighting credentials, has consumer inflation topped out?

ABC News

$57 billion wiped from Australian market, Wall Street rout as Dow plunges 1,000 points, Nasdaq loses 5pc

The ASX plunges by nearly $60 billion after Wall Street stocks plummet, as investors worry about the need for larger interest rate increases to stem inflation, while the Bank of England raises rates for a fourth time.

The Guardian - US

US stocks see worst day this year as Fed rate hike rattles investors

Dow falls 3.1% a day after the Fed chair announces biggest hike in two decades to combat inflation

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WEKU

The Dow Jones tumbles over 1,100 points as fears about the economy intensify

The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.

WEKU

Stocks dive as fears about the economy intensify

The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.

Reason

The Satanic Temple: If Christians Can Raise Flag at Boston City Hall, We Can Raise Ours Too

Plus: The push to abolish the Senate, Feds hike interest rates by 0.5 percent, and more...

Tribune News Service

Falling jobless rate is set to complicate Fed’s inflation fight

The U.S. unemployment rate probably fell to 3.5% in April, matching the lowest reading since the 1960s, and many economists expect it to keep declining — potentially complicating the Federal Reserve’s fight against inflation.

Bangkok Post

Asian, European markets rise as US Fed eases fears of huge rate hike

Markets rallied Thursday after the US Federal Reserve played down chances of a huge interest rate hike in the near future, while oil extended gains as the European Union moved to ban imports from Russia.

The Guardian - UK

Pound tumbles to two-year low as stagflation fears rise – as it happened

Sterling tumbles to lowest since June 2020 as Bank of England lifts interest rates to 13-year high, cuts growth forecasts, and sees inflation hitting 10%

The Independent UK

Asian stocks rise after Fed chair downplays bigger rate hike

Asian stock markets have followed Wall Street higher after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S. central bank’s biggest increase in two decades

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