Hints and tips:
Related Special Reports
...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 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....
...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....
...Powell’s comments will add to hopes the Fed is at last preparing to ease monetary policy after months of holding rates at a 23-year high of between 5.25 per cent and 5.50 per cent — part of its quest to...
...Instead, a confident and noticeably more relaxed Powell played down a recent uptick in consumer price inflation, from 3.1 per cent in January to 3.2 per cent in February, saying seasonal effects could be...
...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....
...The dollar strengthened 0.4 per cent against a basket of six peer currencies as investors scaled back their bets on rate cuts....
...Measured against a basket of six peer currencies, the greenback strengthened as much as 0.7 per cent on Monday to reach its highest level since November 14....
...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...
...All of the “Magnificent Seven” big tech companies, which helped propel the S&P 500 to a record high in January, also fell....
...“I don’t have a stance on that,” Powell said. “It’s not something I’m focused on . . ....
...But Powell’s insistence last week that such an early move was unlikely, and a subsequent strong January jobs report, quashed hopes of a move that early in the spring....
...But Federal chair Jay Powell said on Wednesday that the road to 2 per cent inflation was “bumpy”....
...Jay Powell handed US stocks their biggest one-day drop in several months, as the Federal Reserve chair said the central bank was unlikely loosen monetary policy in March, crushing hopes of a first-quarter...
...Between a new tone in the policy statement, fresh projections indicating a less aggressive path for interest rates, and Powell’s own commentary during a press conference, the signals pointed in one, consistently...
...And yet, Powell said, there was still “a way to go” before victory could be declared....
...Last week, Federal Reserve chair Jay Powell gave a talk at Spelman College in which he declared that “for me, a big, big party, and I mean this is as fun as it gets, [is] a really good inflation report”....
...While Powell’s comments stressed the central bank’s caution on inflation, a change in the language in the committee’s statement removed a bias towards further rate rises....
...Michael Poynor London SW19, UK...
...To mark this moment while it doesn’t yet feel like a mistake, we’ve added a festive Jerome Powell-themed design to our Redbubble store: — Jerome Powell, Christmas Saviour (black text)— Jerome Powell, Christmas...
...The Federal Reserve’s rate-setters still expect to make about three quarter-point rate cuts this year, its chair Jay Powell said in an interview that aired last night....
...US Treasuries staged a historic rally and stocks jumped as comments from Federal Reserve chair Jay Powell further spurred a rally that began after the central bank published a more dovish outlook than investors...
...The only thing Jay Powell could have done to deliver a stronger impression of a festive giveaway to global markets this week would have been to conduct his press conference decked in an oversized red suit...
International Edition