New York CNN — The Federal Reserve raised interest rates by a quarter point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability. Investors and economists had widely anticipated the quarter-point increase despite the meltdown in the banking sector. Still, Federal Reserve ChairmanContinue Reading
Even with turmoil in the banking industry and uncertainty ahead, the Federal Reserve likely will approve a quarter-percentage-point interest rate increase next week, according to market pricing and many Wall Street experts. Rate expectations have been on a rapidly swinging pendulum over the past two weeks, varying from a half-pointContinue Reading
Goldman Sachs logo displayed on a smartphone. Omar Marques | SOPA Images | LightRocket via Getty Images Goldman Sachs no longer sees a case for the Federal Reserve to deliver a rate hike at its meeting next week, citing “recent stress” in the financial sector. Earlier Sunday, U.S. regulators announcedContinue Reading
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell testifies Wednesday before the House Financial Services Committee in remarks that markets will be watching closely. related investing news El-ErianContinue Reading
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on February 01, 2023 in Washington, DC. Kevin Dietsch | Getty Images Federal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakersContinue Reading
Lael Brynard’s new role will make him Jerome H. Powell’s closest monetary policy partner.Lael Brainard, who has been the Federal Reserve’s governor since 2014, was likely to replace Jerome H. Powell as Fed chairman, but President Biden’s promotion to the Fed’s second position will keep him in a strong positionContinue Reading
Mohamed El-Erian Scott Mlyn | CNBC The Federal Reserve is losing credibility over its long-standing view that inflation is transitory, according to Mohamed El-Erian, chief economic advisor at Allianz. “I think the Fed is losing credibility,” El-Erian said Monday. “I’ve argued that it is really important to reestablish a credibleContinue Reading
Ornamental statues at China Evergrande Group’s Life in Venice real estate and tourism development in Qidong, Jiangsu province, China, on Tuesday, Sept. 21, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — The U.S. Federal Reserve warned Monday of potential spillover from China’s real estate troubles to the U.S.Continue Reading
Fed announces tapering plans The Fed announced Wednesday it will begin reducing the pace of monthly bond purchases later this month. The move was in line with market expectations following a series of earlier signals from the U.S. central bank that it would begin winding down a program that acceleratedContinue Reading
Traders work on the floor of the New York Stock Exchange (NYSE), October 12, 2021. Brendan McDermid | Reuters U.S. stock futures were little changed Tuesday night as investors awaited a decision from the Federal Reserve on its tapering schedule. Dow Jones Industrial Average futures fell 28 points, orContinue Reading