Tag: Jerome Powell

• 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.

• Saturday, December 4th 2021 - 09:10 UTC

  Inflation beats the Fed: the word “transitory” eliminated from forecasts

  

  Federal Reserve policymakers finally acknowledge the increasing risk of more persistent inflation in months ahead and thus the word “transitory” has been eliminated from the inflation forecasts.

• Wednesday, December 1st 2021 - 08:56 UTC

  US Fed chairman warns inflation will stay around longer than expected

  

  Jerome Powell, chairman of the US Federal Reserve, the Republican who has just been entrusted by President Joseph Biden for another term in office, Tuesday told Congress inflation might be here to stay a while longer, in the face of the Omicron C19 variant.

• Tuesday, November 23rd 2021 - 20:01 UTC

  Biden endorses Powell for yet another term as Federal Reserve head

  

  US President Joseph Biden has announced he wanted Republican lawyer Jerome Powell to stay at the helm of the United States Federal Reserve (Fed) for a second four-year term.