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.
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.
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.
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.
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.
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.
Wall Street climbed on Friday while S&P and Nasdaq reached new historic highs for the fourth time in the week following on statements from Fed chairman Jerome Powell at the Jackson Hole symposium when he anticipated a moderate, non-aggressive calendar reduction in the purchase of bonds.
The United States Federal Reserve could begin withdrawing economic stimuli sometime in the next four months and advances of such a program could be anticipated this week at the Jackson Hole central bankers meeting 26/27 August.
The United States Federal Reserve kept interest rates unchanged, close to zero, despite an inflation spike during June when it soared to an annual 5,4%, its highest in thirteen years.
With U.S. Federal Reserve officials including Chair Jerome Powell reaffirming that tighter monetary policy was still some way off, the US dollar slipped against major peers on Wednesday.