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The Latest Breaking News from Jerome Powell

Fed Preps 10th Straight Rate Hike As Inflation Concerns Outweigh Bank Stresses

"The labor market is still too tight for the Fed’s liking," said Jeffrey Roach, chief economist for LPL Financial.

The Street

Dow Jones Futures: Fed Hike Due, PacWest, AMD In Focus. Eli Lilly Drug Slows Alzheimer's.

Another rate hike is expected today, but Fed guidance will be key. PacWest rebounded while AMD tumbled. Eli Lilly jumped on its Alzheimer's drug.

Investors Business Daily

US Fed likely to hike rates again as banking fears resurface

Washington (AFP) - The US Federal Reserve is widely expected to raise its benchmark lending rate for a 10th -- and possibly final -- time on Wednesday, as it aims to bring down inflation while preventing fresh banking concerns from spreading.

AFP

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Dow Jones Futures Rise As Fed Rate Hike Looms; These Bank Stocks Keep Diving, AMD Tumbles On Guidance

The Fed is expected to hike rates, but will that be it? AMD fell on guidance. Regional bank stocks keep selling off.

Investors Business Daily

SVB's collapse shows Fed failure to supervise banks

The aftershocks of the collapse of Silicon Valley Bank (SVB), while seemingly fading, are still reverberating around the world. Although Federal Reserve officials have taken pains to assure the public that the US banking system is sound, it is unclear why anyone should believe them. After all, Fed Chair Jerome…

Bangkok Post

Fed Meeting: What To Expect From Federal Reserve, Powell With S&P 500 At Key Point

If the Federal Reserve doesn't signal that Wednesday's hike is the last one, the S&P 500 could be in for an ugly day.

Investors Business Daily

Fed is set to raise rates yet again. After that, then what?

The Federal Reserve is on track to raise its benchmark interest rate for the 10th time Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four decades

The Independent UK

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JPMorgan created a Fed-whispering A.I. model to help investors stay on top of the market

Think ChatGPT, but for the weird things Jerome Powell says every couple months. It’s “a large language model tuned to central bank speak.”

Fortune

The Fed admits some of the blame for Silicon Valley Bank's failure in scathing report

The Federal Reserve says its own light-touch approach to bank regulation is partly to blame for the collapse of Silicon Valley Bank last month, and it promised more vigorous oversight in the future.

WEKU

Pranksters posing as Ukraine's president tricked the Fed chair into a phone call

The Fed chairperson was tricked into an extended phone call in January with Russian pranksters posing as Ukraine's president, during which the discussion focused on the impact of interest rate hikes.

WEKU

Fed's Powell was tricked by fake call from Russia pranksters

Federal Reserve Chair Jerome Powell was tricked into an extended phone call in January with Russian pranksters posing as Ukrainian President Volodymyr Zelenskyy, during which Powell appeared to discuss the impact of interest rate hikes

The Independent UK

Chair of US Fed prank-called by Russians pretending to be Zelenskiy

Jerome Powell appears to address inflation and Russian central bank in video broadcast on Russian state television

The Guardian - US

What Is the Bank Term Funding Program? Who Is Eligible?

Part of the job of the Federal Reserve (also known as the Fed) is to ensure stability throughout the economy so that its monetary policies can be effectively implemented. And sometimes, that means bailing out banks when they make bad investments. The Fed is often called the “lender of the…

The Street

The Western housing market recession hit so hard and fast that a Fortune 500 firm that was riding high at $34 per share has crashed to $1

"They [Opendoor] are taking huge losses, and as buying agents, we are all testing their pain threshold" says Chris Davis, a real estate agent in Phoenix.

Fortune

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Caixin Global

PBOC Chief and Fed Chair Hold First In-Person Meeting Since 2019

Central bank Governor Yi Gang also confers in Washington with G-20 officials and Bank of Japan chief amid World Bank and IMF meetings

Fortune

A veteran volatility trader known for nailing the market’s recent twists and turns warns the Fed still needs to suck ‘the wealth effect’ out of stocks

Cem Karsan warned Thursday that the Fed will have to “start talking the market back down” in May in order to control inflation.

Fortune

‘Other things will break.’ Legendary investor Jeremy Grantham warns of more financial chaos and wants to see Powell ‘channel a little bit of Volcker’

Jeremy Grantham predicted the financial crisis in 2008. Now, he thinks the financial system could expect more chaos after the two banks failed in March.

The Street

Fed Looks Set to Raise Rates Once More After Inflation Data

Price increases are high enough to justify a Fed move in May, traders and investors say. Then they expect a pause.

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The Guardian - US

US inflation at 5%, the lowest it has been since 2021

Monthly consumer price index shows US prices increased at a lower rate in March, though core inflation remains steady

Fortune

3 signs the labor market is rebalancing in a way that could prevent a recession, according to Goldman Sachs

Goldman’s David Mericle sees “encouraging news about the prospects for achieving the gentle rebalancing of the labor market needed for a soft landing.”

Zenger

Friday’s Jobs Data Likely To Shift Market Odds For Fed’s Next Interest Rate Decision

Key jobs data is due Friday and recent numbers suggest the labor market may be starting to roll over

The Independent UK

US adds 236,000 jobs in March as unemployment rate remains little changed

The lower job numbers come as a hot labour market cools down amid increasing interest rates

The Guardian - US

US adds 236,000 jobs in March as labor market weakens

March saw fewer jobs added to economy compared with February as effects of Fed’s interest rate increases are felt

Fortune

Mohamed El-Erian’s advice to Jerome Powell: ‘Talk less, smile more’

The Federal Reserve has a communication problem, and it could be damaging the stock market, says El-Erian.

McClatchy Washington Bureau

‘Total and complete disaster’: DeSantis takes rhetorical aim at Fed Chairman Powell

WASHINGTON — Ron DeSantis has found a new rhetorical target as he prepares for a potential presidential bid: Federal Reserve Chairman Jerome Powell.

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