jerome powell
Fed holds rates steady, sees just one cut in 2024 despite inflation progress
“We’ll need to see more good data to bolster our confidence that inflation is moving sustainably toward 2%,” Chair Jerome Powell said at a news conference after the Fed meeting...
Inflation ticks slightly downward in May, sparking hopes of Fed rate cuts
The consumer price index ticked down slightly from the 3.4% headline rate from April.
Ex-Goldman Sachs exec named next Cleveland Fed president
Hammack’s appointment comes at a critical moment for the Fed and Chairman Jerome Powell.
Fed Chair Jerome Powell tests positive again for COVID-19, working from home
Powell, 71, last tested positive for Covid in January 2023.
Inflation rates show Biden is gaslighting Americans on the economy
The Producer Price Index (PPI), a key inflation indicator that measures wholesale prices, increased by 0.5% last month in April, higher than the 0.3% Dow Jones estimate.
Inflation cooled in April to reignite hopes for Fed rate cut -- Dow breaks record
Inflation cooled down in April after a hotter-than-expected start to the year, boosting bets that the Federal Reserve will finally start cutting rates this fall -- and leading to a...
Fed urges patience on rate cuts after key inflation index higher than expected
Powell made his comments just hours after the Bureau of Labor Statistics released data showing that wholesale prices rose more than expected in April.
Federal Reserve expected to hold interest rates steady amid high inflation
Wall Street traders now envision just a single rate cut this year to the Fed’s benchmark rate, now at a 23-year high of 5.3%.
Employee pay has risen more than expected this year — another sign of lasting inflation
US employee pay jumped more than expected in the first three months of this year -- yet another sign that inflation could stay higher for longer. The employment cost index...
Fed’s preferred inflation gauge rose brisk 2.8% in March in yet another setback for rate cuts
The Federal Reserve's preferred measure of inflation showed prices once again rose at an unexpectedly brisk rate in March, marking another setback for rate-cut timing.
US economy cools as GDP growth hits lowest level since 2022 , inflation remains sticky to send Dow spiraling
Fresh data released Thursday morning showed that he US economy's growth slowed to 1.6% in the first three months of 2024, sending markets into a tailspin.
Jerome Powell warns Fed needs more time to battle stubborn inflation, likely delaying rate cuts
"The recent data have clearly not given us greater confidence, and instead indicate that it's likely to take longer than expected to achieve that confidence," Powell said.
US inflation spikes 3.5% in March, casting further doubts on Fed's rate cuts
US inflation had another hot month in March, rising 3.5% -- the latest data point that throws doubt on whether the Federal Reserve will actually begin to cut interest rates...
US employers add surprisingly strong 303K jobs in March as unemployment ticks lower
US employers collectively increased their payrolls by a hefty 303,000 in March -- the fifth consecutive month of hotter-than-expected job gains.
Gold hits new record high as Fed Chair Jerome Powell stays the course on interest rate cuts
Gold and other precious metals are considered a sound investment when interest rates are low because they pay no interest.
Steve Cohen casts doubt on Fed's ability to get to 2% inflation target
The US economy hasn't experienced a 2% inflation reading in more than a decade.
Fed's Jerome Powell keeps interest rate-cut outlook despite stalling inflation data: 'What we were expecting'
Powell in recent weeks has had to reconcile expectations for rate cuts to begin this year with data showing improvement in the inflation numbers has slowed, if not stalled.
Fed's preferred inflation gauge rose 2.8% in February -- reducing hopes for quicker rate cuts
The numbers were in line with analyst expectations -- making it more likely that the central bank will keep interest rates at their current levels.
Americans' credit card fees have surged 50% since Biden became president: study
In 2023, US credit card holders shelled out $157 billion in interest and fees on their credit cards – an increase of $51 billion compared to 2020.
Fed keeps interest rates unchanged, still expects three cuts this year
Two weeks ago, Fed Chair Jerome Powell suggested the central bank was "not far" from gaining confidence it needed that inflation was headed toward 2%.