SINGAPORE – The U.S dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer to bring down soaring inflation. The dollar index scaled to a fresh two-decade peak of 109.4 in early Asia trade, with greenback strength … Read more
NEW YORK: The 10.7% rally in the S&P 500 from its June lows is stumbling as it runs into what has historically been the toughest month for the U.S. stock market, sparking nerves among some fund managers of a broad sell-off in September. The S&P has been in a bear market since plummeting early this … Read more
The U.S. economy will need tight monetary policy “for some time” before inflation is under control, a fact that means slower growth, a weaker job market and “some pain” for households and businesses, Federal Reserve Chair Jerome Powell said on Friday in remarks warning there is no quick cure for fast rising prices. “Reducing inflation … Read more
By Christopher Rugaber Jackson Hole (US), Aug 25 (AP) A half-hour drive or so from the resort where the high priests of international finance – leading economists and central bank officials – have convened in Jackson Hole, Wyoming, to discuss the world’s economic challenges, Ash Hermanowski oversees the distribution of about 1,200 free meals a … Read more
NEW DELHI: Despite Friday’s profit booking, headline index Nifty managed to close on a positive note for the fifth week in a row by registering a weekly gain of 0.34 per cent. As the peak of the earnings season is now over, the attention now shifts to macro events, FII flows and the movement in … Read more
Federal Reserve Chair Jerome Powell is likely to slow the pace of interest-rate increases after front-loading policy with a second straight 75 basis-point hike next week, economists surveyed by Bloomberg said. They expect the Federal Open Market Committee to lift rates by a half percentage point in September, then shift to quarter-point hikes at the … Read more
NEW YORK – Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at the March policy meeting but said the central bank is prepared to move more aggressively later if inflation does not abate as expected. “I’m inclined to propose and support a 25 basis point rate … Read more
NEW YORK: Investors are bracing for the last Federal Reserve meeting of the year, with market participants hungry to learn how quickly the central bank plans to finish unwinding its bond-buying program and pick up signs of when it may start to raise rates in 2022. Stocks are back at record highs following last week’s … Read more
Prices for U.S. consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate since 1982. The Labor Department also reported Friday that from October to November, prices jumped 0.8%. Inflation has been intensifying pressure on consumers, especially … Read more
By Steve Matthews and Sarina Yoo Investors may need to hunker down for a slump in US stocks if President Joe Biden opts for a surprise choice and doesn’t renominate Jerome Powell as Federal Reserve chair. Nearly 90% of the economists surveyed by Bloomberg expect Biden to keep Powell in the job, an overwhelming number … Read more