A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — The Federal Reserve raised interest rates by a quarterContinue Reading
Jerome Powell, chairman of the US Federal Reserve. Bloomberg | Bloomberg | Getty Images The Federal Reserve will close its two-day meeting Wednesday with a heavy air of uncertainty as the central bank moves forward in its efforts to bring down inflation and stabilize the troubled banking sector. At theContinue 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
Shoppers look at items displayed at a grocery store in Washington, D.C., on Feb. 15, 2023. Stefani Reynolds | AFP | Getty Images Consumer inflation may have cooled off a little in February, but economists expect it is still running at a high pace. The consumer price index, expected TuesdayContinue Reading
Investors swarmed into U.S government bonds Monday after the collapse of Silicon Valley Bank and subsequent government backstop of the banking system. The rush sent Treasury yields tumbling. The yield on the 2-year Treasury was last trading at 4.07%, down 52 basis points, or just over a half-percentage point. (1Continue Reading
Stocks rallied to start to the week Monday, with the Dow erasing its Friday losses, as investors shook off fears around the emerging threat of the omicron variant of Covid-19. The Dow Jones Industrial Average jumped, while the Nasdaq Composite lagged, though it was still in positive territory. Here’s whatContinue Reading
The yield on the 2-year Treasury note fell sharply on Friday as the shutdown of Silicon Valley Bank sparked a flight to safer assets such as government bonds. The yield shed 46 basis points in the past two days, a sudden decline not seen since September 2008, when the financialContinue Reading
Federal Reserve Chair Jerome H. Powell testifies before a House Financial Services hearing on “The Federal Reserve’s Semi-Annual Monetary Policy Report” on Capitol Hill in Washington, U.S., March 8, 2023. Kevin Lamarque | Reuters Federal Reserve Chairman Jerome Powell’s prepared speech this week to Congress took just a few minutes,Continue 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
Sydney Building take from Cremorne Point. Brook Attakorn | Moment | Getty Images As Federal Reserve Chair Jerome Powell hints at bigger and possibly faster rate hikes ahead, Australia’s central bank could be headed toward a different path. Reserve Bank of Australia’s governor Philip Lowe said in a speech WednesdayContinue Reading