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...US stocks closed lower for the third session in a row on Tuesday after Federal Reserve chair Jay Powell warned interest rates are likely to stay at current levels for “longer than expected” to tame inflation...
...Federal Reserve chair Jay Powell has acknowledged it will likely take “longer than expected” for inflation to return to the US central bank’s 2 per cent goal and cut interest rates....
...Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates,...
...Bets of just one cut rose after Powell’s remarks....
...“We have time to let the incoming data guide our decisions on policy,” Powell said. “The outlook is still quite uncertain, and we face risks on both sides.”...
...US stocks rose on Wednesday afternoon after Federal Reserve chair Jay Powell toed a careful line in his semi-annual testimony to Congress, saying he did not expect the central bank to increase interest rates...
...US stocks rose on Wednesday afternoon after Federal Reserve chair Jay Powell said he did not expect the central bank to increase interest rates again, but said there was more progress that needed to be made...
...US stocks climbed higher in early trading on Thursday as traders prepared for the second day of Federal Reserve chair Jay Powell’s semi-annual testimony to Congress....
...Powell will acknowledge “considerable progress” on the economy and say interest rates, now at a 23-year high in a range of 5.25 to 5.5 per cent, are unlikely to rise again....
...US stocks staged a broad rally as Federal Reserve chair Jay Powell said the central bank is ‘not far’ from gaining the confidence to lower interest rates....
...“We’re waiting to become more confident that inflation is moving sustainably to 2 per cent,” Powell said....
...Powell said this US “exceptionalism” in the face of weaker global growth meant the central bank could afford to take its time....
...Powell also downplayed the risks that the US’s persistently hot labour market would hinder the inflation fight....
...“We’re doing the best of anybody,” Powell said. “We’ve got the strongest growth and the lowest inflation of the advanced economies.”...
...The moves came after Powell said in a pre-recorded interview on Sunday that rate-setters still expect to make three quarter-point cuts in 2024....
...US stocks fell in early trading on Monday as markets opened for the first time since Federal Reserve chair Jay Powell pushed back against hopes for rapid interest rate cuts in an interview on CBS’s 60 Minutes...
...Government bonds sold off on Monday after US Federal Reserve chair Jay Powell pushed back against traders’ hopes for rapid and steep interest rate cuts....
...Powell said during an interview with 60 Minutes on Sunday that Fed policymakers still expected to make three quarter-point cuts in 2024....
...Powell said he had never seen a regulatory proposal elicit so much criticism, adding that there were “real concerns” the plans could increase risks to the banking system and undermine market competition....
...Jay Powell handed US stocks their biggest one-day drop in more than four months, as the Federal Reserve chair said the central bank was unlikely to loosen monetary policy in March....
...He’s not going to be able to do anything,” Trump said, referring to Powell....
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