The Latest Breaking News from Jerome Powell

The billionaire investor says interest rate hikes are undermining the economy and could lead to more bank turmoil.

History remembers Paul Volcker as the slayer of inflation, and Ben Bernanke as the crisis firefighter. Jerome Powell is in danger of having to play both roles at once — or, what may be worse, to choose between them.

Elon Musk disagreed with the Fed describing the banking system as “sound and resilient,” tweeting, “banks are melting.”

Despite the bank failures, the Fed will likely keep raising interest rates to bring inflation down. This is expected to keep the stock market under pressure. Amid this backdrop, it could be wise for investors to add high-quality stocks Visa (V), Amgen (AMGN), and Box (BOX) to their watchlist. Keep…

US stocks fell after Federal Reserve Chairman Jerome Powell dismissed speculations of rate cuts by policymakers this year. Hence, amid uncertainties, bargain hunters should avoid Mullen Automotive (MULN), Bed Bath & Beyond (BBBY), and Vinco Ventures (BBIG), which are trading at unreasonable prices. Read on.

Banking shares have slipped in Europe as investors adjust to more challenging economic and lending conditions ahead.

Asian shares are mixed after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching rate hikes

Fed Chairman Jerome Powell seeks to reassure Americans that their money was safe after the failure of Silicon Valley Bank, Signature Bank as the Fed continues to fight inflation.

Stocks fell sharply Wednesday after the Federal Reserve indicated the end may be near for its economy-crunching hikes to interest rates, but it also doesn’t expect to cut rates anytime soon despite Wall Street’s hopes.