News

Jerome Powell

Stocks Close Broadly Lower as Powell Signals Faster Tapering by Fed

Reuters | Equities.com |

Wall Street's main indexes closed lower on Tuesday after Federal Reserve Chair Jerome Powell signaled that the U.S. central bank would consider speeding up its withdrawal of bond purchases as inflation risks increase, piling pressure onto a market already nervous about the latest COVID-19 variant.

In a testimony before the Senate Banking Committee, Powell indicated that he no longer considers high inflation as "transitory" and that the Fed would revisit the timeline for scaling back its bond buying program at its next meeting in two weeks. read more


Jerome Powell Says Fed To Discuss Accelerated Tapering of Bond Purchases at Next Policy Meeting

Reuters | Equities.com |

Federal Reserve Chair Jerome Powell on Tuesday said the U.S. central bank likely will discuss speeding up its "taper" of large-scale bond purchases at its next policy meeting, amid a strong economy and expectations that a surge in inflation will persist into the middle of next year.

"At this point the economy is very strong and inflationary pressures are high and it is therefore appropriate, in my view, to consider wrapping up the taper of our asset purchases, which we actually announced at the November meeting, perhaps a few months sooner, and I expect that we will discuss that at our upcoming meeting in a couple of weeks," Powell said in testimony before the U.S. Senate Banking Committee.


Let the Inflation Battle Begin

Tradier | Equities.com |

The Biden Administration had indicated that it would decide on the next Fed Chair by Labor Day. With Thanksgiving this week, the decision was long overdue. On Monday, November 22, President Biden decided to reappoint the sitting Chair for another term.


Federal Reserve Chair Powell Says Elevated Inflation Will Moderate

AP News | Equities.com |

Federal Reserve Chair Jerome Powell said Wednesday that inflation, which has been surging as the recovery strengthens, “will likely remain elevated in coming months” before “moderating.”

At the same time, in testimony to the House Financial Services Committee, Powell signaled no imminent change in the Fed’s ultra-low-interest rate policies.


Fed Chair Powell Says Inflation Is Due to Temporary Supply Bottlenecks

AP News | Equities.com |

Federal Reserve Chair Jerome Powell on Tuesday responded to concerns from Republican lawmakers about spiking inflation by reiterating his view that current price increases will likely prove temporary.

Consumer prices jumped 5% in May compared with a year earlier, the largest increase in 13 years. Republican House members have sought to blame higher inflation on President Joe Biden’s $1.9 trillion economic relief package, approved in March, in an effort to retake the House next year.


Sponsored Financial Content

Market Movers