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...A measure of the dollar’s strength against a basket of six other currencies rose 0.1 per cent. Prices for Brent crude, the international oil benchmark, slipped 0.2 per cent to $89.95 a barrel....
...Bets of just one cut rose after Powell’s remarks....
...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....
...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,...
...Powell’s comments align with the views of other Fed officials who have recently indicated the central bank is in no rush to reduce interest rates, reducing the likelihood of a first move in the next few...
...Powell said market expectations of a rate cut in March were not his “base case”. Powell also said there was “a way to go” before the Fed could claim victory in its battle against excessive inflation....
...Powell said this US “exceptionalism” in the face of weaker global growth meant the central bank could afford to take its time....
...Powell told CBS’s 60 Minutes show that “almost all” of the members of the Federal Open Market Committee think the US central bank will cut rates from their current 23-year high of 5.25 to 5.5 per cent at...
...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...
...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....
...“When we do get that confidence, and we’re not far from it, it will be appropriate to dial back the level of restriction so that we don’t drive the economy into recession.”...
...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...
...“The economy is performing well,” Powell said on Wednesday. Headline inflation of 2.4 per cent was edging towards the Fed’s 2 per cent target, he suggested....
...Powell is due to speak to CBS in an interview on Sunday. Although his term as chair of the Fed ends in 2026, his term on the board of the central bank lasts until 2028....
...This week, however, it caused a frisson in the real estate world....
...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....
...The dollar strengthened 0.4 per cent against a basket of six peer currencies as investors scaled back their bets on rate cuts....
...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 doing the best of anybody,” Powell said. “We’ve got the strongest growth and the lowest inflation of the advanced economies.”...
...That marked six months of “good news” on inflation, Fed chair Jay Powell acknowledged. But the central bank wants even more data, and even more certainty....
...The posted bond has prevented New York state from seizing his assets — particularly his prized real estate — while he appeals a $464mn fraud judgment....
...In prepared remarks to lawmakers on the topic of the economy, Powell acknowledged “considerable progress” and said interest rates, currently at a 23-year high in a range of 5.25 to 5.5 per cent, were unlikely...
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