The Latest Breaking News from Jerome H Powell

Federal Reserve Chair Jerome Powell clarifies recent half-point rate cut and future rate adjustments, emphasizing data-driven decisions.

House Budget Chairman Jodey C. Arrington said Congress needs to lift the debt ceiling and impose fiscal controls “immediately".

Before Thursday, Silicon Valley Bank was regarded as being in “sound financial condition.” But on that day it experienced attempted withdrawals of $42 billion, about a third of its U.S. deposits. By close of business, the run on the bank made it incapable of paying its obligations as they came…

For decades, the dominant mantra of Silicon Valley's powerful has been that government is just a drag on their innovative spirit. Get regulators off our backs, they've argued, and we'll improve people's lives to an indescribable degree.

WASHINGTON — Only a few months ago many economists warned that a recession was not just inevitable, it was around the corner. Inflation would take years to curb. Surging unemployment was on its way.

Federal Reserve Board Chair Jerome H. Powell snatched the cookie jar out of the stock market's hands on Dec. 14, when he followed up an announcement of a dovish half-point interest rate increase with a warning that the Fed didn't think it had wrung enough inflation out of the economy…

Labor advocates have been feeling their oats lately, what with a surge of successful union organizing drives at Starbucks stores, the hint of union interest at Amazon warehouses, higher minimum wage standards in cities and states across the country, and a nudge up of average wages across the board.

WASHINGTON — In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another hike of three-quarters of a percentage point and signaled more to come in its effort to beat back inflation despite the risk of a recession.

WASHINGTON — For the first time in 22 years, the Federal Reserve on Wednesday pushed up interest rates by a full half-percentage point — a significant escalation of its efforts to get control of troublingly high inflation.