The Latest Breaking News from Jerome Powell

The average rate on a 30-year U.S. mortgage ticked down to 6.72% this week, returning to its level from three weeks ago and offering only modest relief to buyers squeezed by record prices and high borrowing costs, Freddie Mac said. The 15-year fixed rate also eased to 5.85%.

"Independence keeps interest rates lower, if you actually look through the history of interest rates a little bit," Dimon says.

While the Federal Reserve’s decision to hold interest rates steady was widely anticipated, a rare dual dissent and nuanced language in the FOMC statement have left experts divided on whether Chair Jerome Powell will hold steady through 2025 or embark on aggressive rate cuts.

Cryptocurrency markets are up on Thursday, reversing a short-lived dip following a ‘hawkish’ press conference by Federal Reserve Chair jerome Powell.

The jobs number (nonfarm payrolls, to give its technical name) is due out tomorrow. Expect stocks to react strongly if it comes in weak.

The probability that the Federal Reserve could keep interest rates unchanged throughout 2025 surged on Wednesday following Chair Jerome Powell's latest remarks, adding fresh uncertainty to the outlook for monetary policy.

Powell put a cat among the pigeons by suggesting he was minded to "look through" tariff-induced inflation by not increasing interest rates.

September S&P 500 E-Mini futures (ESU25) are up +0.97%, and September Nasdaq 100 E-Mini futures (NQU25) are up +1.30% this morning as forecast-beating quarterly results from Meta and Microsoft boosted sentiment.

 Jamie Dimon, the CEO of JPMorgan Chase Co. (NYSE:JPM), has reportedly visited the White House twice in the past two months. This marks a significant shift in the relationship between the head of the largest American bank and President Donald Trump.