Tag: Jerome Powell

• Wednesday, March 22nd 2023 - 10:35 UTC

  Crucial week for the Fed's Powell and the US banking system

  

  Several banking failures in the US this month have raised fears about the health of the financial system. The collapses follow a sharp rise in global borrowing costs, led by the US, which has shocked the world economy and raised worries about a painful downturn known as a recession.

• Thursday, February 2nd 2023 - 10:21 UTC

  Fed admits inflation cooling, but more evidence needed that “the disinflationary process has started”

  

  The Federal Reserve following a two day meeting announced it decided on Wednesday to raise its key interest rate a quarter point arguing that although inflation is easing it is still too high, and did not discard further rate hikes could be needed since more evidence is needed to be confident inflation is in a sustained downward path. The increase was the eighth since March.

• Thursday, December 15th 2022 - 11:47 UTC

  Fed raises interest rates by 50 points to 4,5%, but US inflation at 7,11% is still far from the 2% target

  

  In a unanimous decision the United States Federal Reserve FOMC raised interest rates by half a percentage point on Wednesday, as it continues to battle a stubborn inflation, but the increase was lower than the three-quarter point which it had implemented seven times since last March, from zero to 4,5%.

• Thursday, September 22nd 2022 - 09:04 UTC

  Fed's Powell and the unfortunate costs of reducing inflation: third 75 basis points interest rate hike

  

  Challenged by the highest level of inflation experienced in the US in over 40 years, the Federal Reserve decided on Wednesday a third consecutive interest rate hike of 75 basis points, bringing the benchmark rate up to a range of 3.0% to 3.25% from 2.25% to 2.50%.

• Tuesday, September 20th 2022 - 10:18 UTC

  US Fed and UK BoE expected to hike interest rates this week, but how far?

  

  The United States Federal Reserve and the Bank of England this week are scheduled to hike interest rates steeply again in a bid to tame inflation. The two central banks are expected to look through recession fears and continue their fight against extraordinary price rises.

• Saturday, August 27th 2022 - 09:51 UTC

  Federal Reserve pledges to keep lowering inflation, “until we are confident the job is done”

  

  The chairman of the Federal Reserve, Jerome Powell said on Friday that the job of lowering inflation is not done, and “we will keep at it until we are confident the job is done”. Powell was speaking at the Fed's annual conference in Jackson Hole, Wyoming, an event closely followed by markets and pundits, trying to anticipate future actions.

• Thursday, July 28th 2022 - 07:59 UTC

  Fed raises the benchmark interest rate 75 basis points, fourth time running

  

  For the fourth time running since March the United States Federal Reserve on Wednesday increased benchmark interest rates 75 basis points to its highest level since 2018, in yet another significant effort to contain inflation which is running at a forty-year high of 9,1%, but at the same time avoiding a recession.

• Tuesday, May 24th 2022 - 10:10 UTC

  Powell takes oath as Fed's chair second term; first African American woman joins US central bank

  

  Jerome H. Powell on Monday took the oath of office for his second term as Chair of the Board of Governors of the Federal Reserve System. Vice-Chair Lael Brainard administered Chair Powell's oath in the press briefing room of the Board's Martin Building.

• Thursday, May 5th 2022 - 10:15 UTC

  Markets react positively to Fed's rate increase and reduction of debt beginning June

  

  United States markets on Wednesday reacted positively to the Federal Reserve's 50 points basis rate increase, the first of such magnitude since 2000, to try and control inflation. Likewise stocks rallied on Fed chair Jerome Powell's announcement ruling out larger rate hikes and underscoring the possibility of a soft landing, avoiding a recession.

• Thursday, December 16th 2021 - 09:41 UTC

  Fed faces inflation: taper concludes in March and three 0,25% rate hikes by end of 2022

  

  With US inflation reaching 6,8% in November, the highest in four decades, and following a two-day meeting, the Federal Reserve announced it was ending its asset purchase program earlier than expected anticipating several interest rate increases in 2022.