Crude oil gains a tad on US industry data
Crude oil futures traded marginally higher on Wednesday morning as an industry data showed a decline in inventory levels in the US. At 9.57 am on Wednesday, May Brent oil futures were by 0.18 per cent at $83.44 and April crude oil futures on WTI were up by 0.01 per cent at $77.59. March crude […]
Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated
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 ImagesFederal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected.Citing data earlier this year showing […]
Powell to speak in Congress – markets are mixed on expectations
U.S. Federal Reserve Chair Jerome Powell testifies before a Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill on March 3, 2022.Pool | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to […]
There Is More Inflation Complexity Ahead by Mohamed A. El-Erian
As US inflation gradually eases, the claim that today’s inflationary pressures are the result of a temporary supply shock has re-emerged. While this thesis may be comforting, it could also encourage dangerous complacency, making an already serious problem much harder to solve. CAMBRIDGE – Nearly two years into the current bout of inflation, the concept […]
Market Rally Stirs Concerns It Could Feed Inflation
MarketsFinanceEconomists disagree about importance of market-driven financial conditions relative to Fed’s interest rates Source link
January jobs seen slowing slightly, but impact of big layoffs unclear
Economists expect slightly slower, but still strong job growth in January, while the impact of corporate layoff announcements is unclear.According to Dow Jones, the consensus forecast calls for 187,000 new nonfarm jobs in January, down from 223,000 that were created in December. The employment report will be released at 8:30 a.m. ET Friday.The unemployment rate […]
Gold slips from nine-month peak as dollar regains lost ground
Gold bars being counted in IstanbulYoray Liberman | Getty ImagesGold prices slipped nearly 2% as the dollar rebounded and some investors locked in profits after bullion scaled a nine-month peak on dovish remarks from Federal Reserve Chair Jerome Powell.Spot gold dipped 1.91% to $1,9153.09 per ounce, having hit its highest since April 2022 earlier in […]
The Fed Fights the Fed: WSJ
Policy makers want to convince investors that smaller rate increases won’t be a prelude to rate cuts. Federal Reserve Chair Jerome Powell said Wednesday the central bank will raise interest rates a quarter-percentage-point. Powell said more increases will likely be needed to continue lowering inflation. Source link
Federal Reserve chairman Jerome Powell to stress inflation fight far from over
WASHINGTON (AP) — Inflation is cooling, and parts of the economy appear to be weakening. But Chair Jerome Powell is likely Wednesday to underscore that the Federal Reserve’s primary focus remains the need to fight surging prices with still-higher interest rates.With financial markets anticipating that the Fed will stop raising rates soon and possibly even […]
The Federal Reserve is likely to hike rates by a quarter point
Federal Reserve Board Chairman Jerome Powell holds a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, U.S., December 14, 2022. Evelyn Hockstein | ReutersThe Federal Reserve is expected to raise interest rates by just a quarter point but also likely […]