Tag: Federal Reserve

Federal Reserve’s Powell: High inflation ‘exacts a toll’

WASHINGTON (AP) — High inflation is taking a toll on American families, Federal Reserve Chair Jerome Powell acknowledged in remarks to be delivered at a Tuesday congressional hearing, where he is sure to face tough questions on the subject. “We know that high inflation exacts a toll, particularly for those less able to meet the higher costs of essentials like food, housing, and transportation,” Powell said in prepared testimony. The Senate Banking Committee will hold a hearing on Powell’s nomina
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Fed Doubles Taper, Signals Three 2022 Hikes in Inflation Pivot

(Bloomberg) — Federal Reserve officials intensified their battle against the hottest inflation in a generation by shifting to end their asset-buying program earlier and signaling they favor raising interest rates in 2022 at a faster pace than expected.Most Read from BloombergCan Indoor Farms Reach Skyscraper Height?Zero Taxes, Golf and Beach Houses Create a Crypto Island ParadiseSaudi Arabia Wants Its Capital to Be Somewhere You’d Want to LiveHeralding one of the most hawkish policy pivots in y
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Powell Declares Inflation Big Threat as Fed Signals Rate Hikes

(Bloomberg) — Federal Reserve Chair Jerome Powell signaled on Wednesday that inflation is now enemy No. 1 to keeping the U.S. economic expansion on track and returning the labor market to something approaching ebullient pre-pandemic levels. Most Read from BloombergCan Indoor Farms Reach Skyscraper Height?Zero Taxes, Golf and Beach Houses Create a Crypto Island ParadiseSaudi Arabia Wants Its Capital to Be Somewhere You’d Want to LiveIn an abrupt policy pivot, the Fed sped up the drawdown of its
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Turbocharged Treasury Curve Flattening Halted in Wake of Powell

(Bloomberg) — Popular trades in the bond market were whipsawed after Federal Reserve Chair Jerome Powell indicated that monetary-policy tightening would still be gradual even as officials boosted the amount of interest-rate hikes they predict for next year.Most Read from BloombergCan Indoor Farms Reach Skyscraper Height?Zero Taxes, Golf and Beach Houses Create a Crypto Island ParadiseSaudi Arabia Wants Its Capital to Be Somewhere You’d Want to LiveThe two-year Treasury yield — which is closely
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Powell’s Hawkish Tune Gets Equities Going as Bonds Take a Seat

(Bloomberg) — Investors responded to the Federal Reserve’s intent to tackle inflation with a clear risk-on pivot, as stocks climbed while Treasuries retreated.Most Read from BloombergCan Indoor Farms Reach Skyscraper Height?Zero Taxes, Golf and Beach Houses Create a Crypto Island ParadiseSaudi Arabia Wants Its Capital to Be Somewhere You’d Want to LiveEquity strategists highlighted the usually positive outlook for stocks in the early stages of a tightening cycle, even as bond and currency analy
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Why the Fed feels now is time to tighten credit more quickly

WASHINGTON (AP) — For months, Federal Reserve Chair Jerome Powell responded to surging inflation by counseling patience and stressing that the Fed wanted to see unemployment return to near-pre-pandemic levels before it would raise interest rates. But on Wednesday, Powell suggested that his patience has run out. High inflation has not only persisted but accelerated to a nearly four-decade high. Average wages are rising. Hiring is solid, and unemployment is falling. All those trends, Powell said a
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