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The Latest Breaking News from Jerome Powell

Mortgage Rates Nearing 6%, Highest Since 2008, Amid Cooling Housing Market

U.S. mortgage rates nudged closer to 6% last week, data from the Mortgage Bankers Association indicated Wednesday, as the Federal Reserve steps-up its inflation fight.

The Street

Stocks Slump, Biden Gas Tax Plea, Powell Testimony, Boeing And Roxe - Five Things To Know

Stock futures slump as inflation woes mount; President Biden calls for Federal gas tax holiday; Fed Chair Jerome Powell faces Capitol Hill grilling on inflation; Boeing shares slide as CEO cautions on supply chain challenges and blockchain payments group Roxe plans Nasdaq SPAC merger

The Street

Powell Testimony And Other Macro Issues For Wednesday

The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET. Federal Reserve Bank of Richmond President Thomas Barkin is set to speak at 9:00 a.m. ET. The Federal Reserve chief Jerome Powell will testify before Congress on monetary policy at 9:30…

Benzinga

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Asian shares dip despite Wall St rally; eyes on Fed chair

Asian shares are lower as markets shrug off a Wall Street rally and await the congressional testimony of Federal Reserve Chair Jerome Powell

The Independent UK

Dow Jones Futures Fall After Market Rallies; Here Comes Fed Chief Powell

A market rally attempt gained steam as Tesla jumped but investors should be wary. Fed chief Jerome Powell is on tap again.

Investors Business Daily

Fed's Powell facing rising criticism for inflation missteps

Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession

The Independent UK

Central bank decisions and global oil price falls top markets’ weekly agenda

Central bank decisions and global oil price falls top the weekly agenda for financial markets this week. Here are five things to watch.

The New Daily

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Market sell-off a 'real downturn' and risk of global recession close to 50-50, analyst warns

The Australian share market has dropped by more than 15 per cent from its record high, sliding closer towards a bear market. Some investors may be tempted to "buy the dip", but analysts say there is "further downside" ahead.

ABC News

S&P 500 Set For Worst Week Since March 2020 As Fed Gets More Aggressive With Rate Hikes

The SPDR S&P 500 ETF Trust (NSYE: SPY) dropped sharply this week as investors priced in the Federal Reserve's more aggressive approach to raising interest rates.

Benzinga

Bear Market Intensifies On Fears Of Fed-Led Recession: Weekly Review

The bear market sell-off worsened on fears that the Fed will trigger a recession to control inflation. Yields hit highs. Oil prices tumbled.

Investors Business Daily

US Stock Futures Higher Following Thursday's Sell-Off

Pre-open movers U.S. stock futures traded higher in early pre-market trade after the Dow Jones dipped more than 700 in the previous session. The Federal Reserve raised interest rates by 0.75% on Wednesday.

Benzinga

Fed Chair Powell Speech And Other Macro Issues For Friday

Federal Reserve Chair Jerome Powell is set to speak at 8:45 a.m. ET. Data on industrial production for May will be released at 9:15 a.m. ET. Analysts expect industrial production rising 0.4% in May following a 1.1% increase in the previous month.

Benzinga

Race for relevance: On the Fed’s interest rate hike

The Fed’s hike can accelerate the exit of foreign portfolio investments

The Hindu

The Fed Raised Interest Rates By Historical Numbers: How You Can Combat Surging Inflation

The Federal Reserve and its Chair, Jerome Powell, raised interest rates by three-quarters of a percentage point on Wednesday, June 15th, 2022. The raise is the highest of its kind in nearly 30 years. Desperate times call for desperate measures, and The Fed is no exception, as it attempts to…

Benzinga

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The Street

Mortgage Rates Surge The Most In 35 Years As Fed Hikes Hammer Home Buyers

"I would say if you’re a home buyer, you need a bit of a reset," Fed Chairman Jerome Powell said yesterday.

Reason

Recession 'Virtual Certainty' as Interest Rates Spike

Plus: Libertarian Party drama, how rent control hurts renters, and more...

Tribune News Service

Daniel Moss: Jay Powell took Ben Bernanke's advice a bit too far

Ben Bernanke, who led the Federal Reserve during the global financial crisis, observed that the art of setting monetary policy was 98% talk and 2% action. A significant rebalancing of that equation would be welcome after communications upheavals this week roiled markets and seemed to reveal a high degree of…

The Street

Stock Market Today - 6/16: Dow Ends Below 30,000 On Recession Fears; Tech Stocks Pounded

Both the Bank of England and the Swiss National Bank followed the Fed with rate hikes Thursday, indicating a likely long-run of monetary tightening from global central banks aimed at taming inflation.

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The Street

Stocks Slump on Recession Concerns, Tesla, Twitter, Revlon And McDonald's In Focus - Five Things To Know

Stock futures slump as Fed hike stokes recession fears; Tesla unveils U.S. model price hikes as costs surge; Revlon files for Chapter 11 bankruptcy protection; Twitter shares jump ahead of town hall meeting with Elon Musk and McDonald's settles $1.3 billion tax dispute with France

ABC News

The ASX opened strong after the US interest rate rise buoyed Wall Street. But it hasn't cancelled out Tuesday's losses

It's been a dramatic few days on the Australian stock market, with steep losses followed by a brief rise on Thursday morning. But there are still more twists and turns to come.

WEKU

Who are the winners and losers of the Fed hiking interest rates?

The Federal Reserve announced Wednesday it will increase its benchmark interest rate by 0.75%, the largest increase in decades. But what does that actually mean for everyday Americans?

The Independent UK

Asia shares mixed after Fed assurance on rates lifts Wall St

Asian shares are mixed after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation

The Independent UK

Fed's aggressive rate hikes raise likelihood of a recession

Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed’s efforts so far to tame it

ABC News

ASX rally fizzles out as US Federal Reserve hikes key interest rate, and Australian dollar surges above 70 US cents

Australian stocks lose their gains despite a rise on Wall Street after the US Federal Reserve increased official interest rates — from between 0.75pc and 1pc to between 1.5pc and 1.75pc — to curb surging inflation, with the move seeing US stocks rally. And the national unemployment rate stayed steady…

Investors Business Daily

Dow Jones Futures Fall After Stocks Rally On Big Fed Rate Hike; What To Do Now

Futures tumbled, threatening to wipe out Wednesday's market rally in a day two reaction to the biggest Fed rate hike since 1994.

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