Tuesday, April 15

Tag: jerome powell

Fed Official Says Central Bank Isn’t ‘Really Talking About Rate Cuts’
16Dec By adminNo Comments
World

Fed Official Says Central Bank Isn’t ‘Really Talking About Rate Cuts’

Updated Dec. 15, 2023 4:53 pm ETFederal Reserve officials offered competing views Friday of when they might begin to lower interest rates next year after Chair Jerome Powell suggested they were likely done raising them.One of Powell’s senior lieutenants said Friday that central-bank officials weren’t actively debating when to cut rates at their policy meeting this week, an apparent effort to temper markets’ exuberant interpretation of the chair’s comments at a news conference Wednesday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Federal Reserve Is Trying to Catch Up with Falling Inflation
15Dec By adminNo Comments
Entertainment

The Federal Reserve Is Trying to Catch Up with Falling Inflation

On Wall Street, happy days are here again, and Jay Powell, the chair of the Federal Reserve, is the toast of the market. On Wednesday and Thursday, stock prices surged after Powell and his colleagues indicated that they are likely to cut a key interest rate three times next year. Market interest rates, which are tied to the Fed’s actions, fell sharply in anticipation of the central bank’s policy pivot becoming a reality.Just a couple of weeks ago, Powell, who has spent the past two years trying to bring down inflation, said that it was too early to consider interest-rate cuts. But, in a press conference on Wednesday, following a gathering of Fed policymakers, he said, “That’s really what happened in today’s meeting.” A set of new projections showed that Fed officials now expect the federa...
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Jerome Powell Makes His Inflation Pivot
14Dec By adminNo Comments
Business

Jerome Powell Makes His Inflation Pivot

We thought Federal Reserve Chairman Jerome Powell would be wary of declaring victory over inflation on Wednesday, but he was wary in formal declaration only. Everything else about his press conference after the latest Federal Open Market Committee (FOMC) meeting suggested that the Chairman’s Paul Volcker era is over. Easier money is on the way.“The committee is proceeding carefully,” he said. The Fed still wants to see “ongoing progress” toward the Fed’s 2% inflation target, “we still have a ways to go,” and “no one is declaring victory” over inflation. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Dow hits record high as investors cheer Fed outlook on interest rates
13Dec By adminNo Comments
Money

Dow hits record high as investors cheer Fed outlook on interest rates

The Dow Jones Industrial Average surged to close at more than 37,000 points for the first time as investors applauded a statement from the Federal Reserve on Wednesday that it could cut its benchmark interest rate next year.The blue-chip index jumped 512 points, or 1.4%, to end the day at 37,090, topping its prior peak of 36,799 in early 2023. The broader S&P 500 rose 1.4% and is within 1.9% of its own record. The tech-heavy Nasdaq composite added 1.4%.Fed officials also left their short-term rate unchanged for a third straight meeting amid signs that their aggressive push to subdue inflation is working. With the price spikes that slammed Americans during the pandemic now receding in earnest, Fed Chair Jerome Powell said in a news conference that the federal funds rate is projected to...
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The Fed Can’t Put Off Preparing for Rate Cuts
9Dec By adminNo Comments
World

The Fed Can’t Put Off Preparing for Rate Cuts

As the economy slows down toward its speed limit, it might be time to start thinking about easing up on the brake. That doesn’t mean the driver has to inform the passengers.Friday’s employment report showed that the economy added a seasonally adjusted 199,000 jobs last month, a move up driven in part by the end of the auto strikes, from October’s gain of 150,000 jobs. The unemployment rate slipped to 3.7% from 3.9%, and would have fallen even more if not for the entry of more people into the labor pool. Average hourly earnings were up 4% from a year earlier which, coming alongside cooling inflation, shows that workers’ buying power increased.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Fed Can’t Put Off Preparing for Rate Cuts
9Dec By adminNo Comments
Money

The Fed Can’t Put Off Preparing for Rate Cuts

As the economy slows down toward its speed limit, it might be time to start thinking about easing up on the brake. That doesn’t mean the driver has to inform the passengers.Friday’s employment report showed that the economy added a seasonally adjusted 199,000 jobs last month, a move up driven in part by the end of the auto strikes, from October’s gain of 150,000 jobs. The unemployment rate slipped to 3.7% from 3.9%, and would have fallen even more if not for the entry of more people into the labor pool. Average hourly earnings were up 4% from a year earlier which, coming alongside cooling inflation, shows that workers’ buying power increased.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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