Jerome Powell
CNBC Daily Open: Powell emphasizes that elections won’t sway Fed’s policy
Federal Reserve Chair Jerome Powell speaks during a press conference following the November 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building, in Washington, DC, November 7, 2024. Andrew Caballero-Reynolds | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC […]
Read More
Stock futures are little changed as Wall Street looks to extend postelection rally: Live updates
Traders work on the floor of the New York Stock Exchange during the morning trading on November 07, 2024 in New York City. Michael M. Santiago | Getty Images U.S. stock futures hovered near the flatline Thursday night after the S&P 500 and Nasdaq Composite hit records in a postelection rally and investors weighed the […]
Read More
CNBC Daily Open: Powell maintains that elections won’t sway Fed’s policy
Federal Reserve Board Federal Reserve Chairman Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on November 07, 2024 in Washington, DC. Kent Nishimura | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on […]
Read More
Powell says he would not resign as Fed chief if Trump asked for his resignation
Federal Reserve Chairman Jerome Powell said Thursday that he will not step down if President-elect Donald Trump asks for his resignation. When asked whether he would resign if requested to by Trump, the Fed chair simply said: “No.” Powell subsequently told reporters that the president does not have the power to fire or demote him. […]
Read More
Federal Reserve cuts interest rates by a quarter point
Key Points The Federal Open Market Committee lowered its benchmark overnight borrowing rate by a quarter percentage point, or 25 basis points, to a target range of 4.50%-4.75%. The vote was unanimous. Fed officials have justified the easing mode for policy as they view supporting employment becoming at least as much of a priority as […]
Read More
Here’s what changed in the new Fed statement
This is a comparison of Thursday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in September. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both […]
Read More
Dow futures jump 200 points, Russell 2000 futures gain as traders monitor election results: Live updates
A trader works on the floor of the New York Stock Exchange on Aug. 4, 2022. Source: NYSE Stock futures were moving higher Tuesday evening as investors brace for a long night amid a contentious U.S. presidential race that will have big ramifications for the markets and economy. Futures on the Dow Jones Industrial Average added […]
Read More
Here’s why inflation may look like it’s easing but is still a huge problem
A family shops for Halloween candy at a Walmart Supercenter on October 16, 2024 in Austin, Texas. Brandon Bell | Getty Images Just because the Federal Reserve is nearing its inflation goal doesn’t mean the problem is solved, as the high price of goods and services across the U.S. economy continues to pose a burden […]
Read More
Fed rate cuts should favor preferred stocks, Virtus money manager says
ETF Edge Fed rate cuts should favor preferred stocks, Virtus money manager says Published Sat, Oct 5 202411:00 AM EDT Krysta Escobar WATCH LIVE Source
Read More
Helene recovery could cost $34 billion. Here’s who might pay for it.
An aerial picture taken on September 28, 2024, shows storm damage in the aftermath of Hurricane Helene in Valdosta, Georgia. John Falchetto | Afp | Getty Images The devastation wrought by Hurricane Helene across the southeastern United States could cost upwards of $34 billion, according to early estimates from Moody’s Analytics. And due to the […]
Read More