For President Joe Biden, tapping the Strategic Petroleum Reserve to lower gasoline prices RB00, -1.02% —along with pardons for federal marijuana possession convictions and forgiving student debt—was a key midterm election strategy. He Read more
Tag: Powells
5 things we learned from Jerome Powell’s ‘whipsaw’ press conference
No one was surprised Wednesday when the Fed lifted its benchmark interest rate by 0.75 percentage points for the fourth consecutive policy meeting, raising the fed funds rate to a Read more
Opinion: Biden is undermining Powell’s efforts to curb inflation
Appropriating language from Paul Volcker, Federal Reserve Chairman Jerome Powell has pledged to “keep at it” and risk a recession to conquer inflation. In varying measure, central bankers in other Western industrialized countries, save Japan, are Read more
Fed will tolerate a recession, and 5 other things we learned from Powell’s presser
But there were a lot of moving parts to the Fed’s message. Here are six things we learned from the central bank’s economic projections and Fed Chairman Jerome Powell’s press Read more
The Dow tumbled 500 points because Jerome Powell’s Fed ‘isn’t going to blink’
It took stock-market investors a while to make up their minds, but when the closing bell sounded on Wednesday it was clear they didn’t like what they had heard from Read more
Bitcoin slips below $20,000 following Powell’s hawkish remarks
The price of bitcoin dipped below $20,000 over the weekend, after Federal Reserve Chairman Jerome Powell warned on Friday that interest rates will keep rising. Bitcoin BTCUSD, -1.39% fell roughly Read more
Only 5 stocks in the S&P 500 ended in positive territory after Powell’s hawkish inflation speech
It took only a 10-minute speech from Federal Reserve Chairman Jerome Powell on Friday to clarify that monetary policy would be relentlessly tightened in the months ahead. Investors dumped stocks, Read more
U.S. stock futures slip as investors await Fed Chairman Powell’s Jackson Hole address
U.S. stock index futures slipped early Friday ahead of what could be a market driving speech by Federal Reserve Chairman Jerome Powell that may offer investors much needed clues on Read more