Federal Reserve Bank
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
A customer counts his cash at the register while purchasing an item at a Best Buy store in Flushing, New York. Jessica Rinaldi | Reuters Inflation held at stubbornly high levels in May, though the monthly increased was slightly less than expected, according to a Commerce Department gauge closely watched by the Federal Reserve. Core […]
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Powell vows to prevent inflation from taking hold in the U.S. for the long run
U.S. Federal Reserve Board Chair Jerome Powell testifies before a House Financial Services Committee hearing in Washington, U.S., June 23, 2022. Mary F. Calvert | Reuters Federal Reserve Chair Jerome Powell vowed Wednesday that policymakers would not allow inflation to take hold of the U.S. economy over the longer term. “The risk is that because […]
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Watch Fed Chair Powell talk live about the economy, interest rates at ECB forum
[The stream is slated to start at 9 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Wednesday to a European Central Bank forum on central banking. The Fed and its global counterparts have been in a race to tamp down […]
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New York Fed President John Williams says a U.S. recession is not his base case
New York Federal Reserve President John Williams said Tuesday he expects the U.S. economy to avoid recession even as he sees the need for significantly higher interest rates to control inflation. “A recession is not my base case right now,” Williams told CNBC’s Steve Liesman during a live “Squawk Box” interview. “I think the economy […]
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‘Apathetic’ investors will embrace banks: RBC top analyst predicts comeback in year’s second half
Investors who are “apathetic” or negative toward banks will change their stance in the year’s second half, according to RBC Capital Markets’ top banking analyst. Gerard Cassidy predicts bullishness will make a comeback due to strong revenue growth and optimism surrounding credit. “You can really see people coming back to [bank] the stocks. They’re under-owned,” […]
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Powell tells Congress the Fed is ‘strongly committed’ to bringing down inflation
Jerome Powell, chairman of the US Federal Reserve, arrives to a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Wednesday, June 22, 2022. Ting Shen | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bring down inflation and […]
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Here are the three things the Fed has done wrong, and what it still isn’t getting right
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from […]
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Fed promises ‘unconditional’ approach to taking down inflation in report to Congress
U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, June 15, 2022. Elizabeth Frantz | Reuters […]
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Powell vows that the Fed is ‘acutely focused’ on bringing down inflation
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15, 2022. Elizabeth Frantz | […]
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A day after Powell’s assurances about the economy, markets are worried that ‘the Fed breaks something’
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15, 2022. Elizabeth Frantz | […]
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