Stocks rally after Fed chair signals slowdown in rate hikes

Wall Street (AP), December 1 – Wall Street closed out a solid November with a broad market rally Wednesday after the head of the Federal Reserve said the central bank could soon begin easing up on its aggressive interest rate increases aimed at taming inflation. Fed Chair Jerome Powell, speaking at the Brookings Institution, reaffirmed that […]

Fed unleashes another big rate hike but hints at a pullback

WASHINGTON (AP) — The Federal Reserve pumped up its benchmark interest rate Wednesday by three-quarters of a point for a fourth straight time to fight high inflation but hinted that it could soon reduce the size of its rate hikes. The Fed’s move raised its key short-term rate to a range of 3.75% to 4%, […]

Fed unleashes another big rate hike in bid to curb inflation

WASHINGTON (AP) — The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation. The Fed’s move will raise its key rate, which affects many consumer and business loans, to a range […]

Fed attacks inflation with its largest rate hike since 1994

WASHINGTON (AP) — The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S. economy without causing a recession. The unusually large rate hike […]

Powell: Fed to keep hiking rates until it controls inflation

WASHINGTON (AP) — Chair Jerome Powell on Tuesday underscored the Federal Reserve’s determination to keep raising interest rates until there is clear evidence inflation is steadily falling — a high-stakes effort that carries the risk of causing an eventual recession. The Fed’s increases in its benchmark short-term rate typically lead, in turn, to higher borrowing […]

Powell reinforces expectations of sharp rate hike next month

WASHINGTON (AP) — The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said Thursday, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed’s next policy meeting in May. In a panel discussion held by the International Monetary Fund […]

Powell expects a quarter-point Fed rate hike this month

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that he supports a traditional quarter-point increase in the Federal Reserve’s benchmark short-term interest rate when the Fed meets later this month, rather than a larger increase that some of its policymakers have proposed. But Powell did open the door to a bigger hike in […]

Question for Fed: Has it waited too long to fight inflation?

WASHINGTON (AP) — With inflation surging, unemployment falling and wages rising, some economists are warning that the Federal Reserve may have waited too long to reverse its ultra-low-rate policies — a delay that could put the economy at heightened risk. On Wednesday, the government is expected to report that consumer prices jumped 7.1% over the […]

Power Top Ten (USA) #5: Federal Reserve Chairman Jerome Powell

Power Top Ten (USA) #5: Federal Reserve Chairman Jerome Powell

Image: Jerome Powell, Chairman of the Federal Reserve, the central bank of the United States. The Golden Hammer Staff Reports Seattle and Washington, D.C., December 18 – Jerome Powell, Chairman of the Federal Reserve, arguably is far more powerful than merely #5 on the Power Top Ten List. President Joe Biden just reappointed Powell for another […]

Fed will tighten credit faster and sees 3 rate hikes in 2022

WASHINGTON (AP) — With inflation surging and unemployment falling, the Federal Reserve said Wednesday that it will shrink its support for the economy more quickly and expects to raise interest rates three times next year. Fed Chair Jerome Powell said the U.S. economy is growing at a “robust pace” even as it faces risks from […]