Tag: Jerome Powell

• Thursday, August 1st 2024 - 07:48 UTC

  US Fed keeps rates unchanged; chair Powell believes a cut rate “could be on the table in September”

  

  The Unites States Federal Reserve on Wednesday, following on a two day meeting (July 30/31) kept the key interest rate unchanged at a 23 year high of 5,3%, but chairman Jerome Powell said that the stage was set for the central bank's first rate cut in four years. With lower inflation and a cooler jobs market, this could happen at the next FOMC meeting in September.

• Thursday, May 2nd 2024 - 05:08 UTC

  The Fed leaves rates unchanged because of lack of further progress on lowering inflation

  

  The United States kept interest rates unchanged, given “a lack of further progress” toward lowering inflation. This means the Fed rate at 5,25% and 5,5% is at the highest level in more than two decades.

• Monday, April 1st 2024 - 12:22 UTC

  Federal Reserve chairman Powell, “in no rush to begin cutting interest rates”

  

  Despite an encouraging Personal Consumption Expenditure Index, PCE, Federal Reserve Chair Jerome Powell repeated on Sunday that the U.S. central bank isn’t in any rush to cut interest rates as policymakers await more evidence that inflation is contained.

• Thursday, July 27th 2023 - 10:00 UTC

  Fed raises benchmark rate to its highest since 2021, “getting inflation back to 2% has a long way to go”

  

  The United States Federal Reserve raised its benchmark lending rate on Wednesday by a quarter of a percentage point, the highest level since 2001 and the eleventh hike in its last 12 meetings.

• Thursday, June 15th 2023 - 06:50 UTC

  Fed makes a pause, leaves rates unchanged but anticipates two further moves before 2024

  

  The United States Federal Reserve this Wednesday, following a two-day meeting decided to keep the interest rate unchanged but the Federal Open Market Committee anticipated that a further two hikes of quarter percentage moves can be expected before the end of the year.

• Wednesday, March 22nd 2023 - 10:35 UTC

  Crucial week for the Fed's Powell and the US banking system

  

  Several banking failures in the US this month have raised fears about the health of the financial system. The collapses follow a sharp rise in global borrowing costs, led by the US, which has shocked the world economy and raised worries about a painful downturn known as a recession.

• Thursday, February 2nd 2023 - 10:21 UTC

  Fed admits inflation cooling, but more evidence needed that “the disinflationary process has started”

  

  The Federal Reserve following a two day meeting announced it decided on Wednesday to raise its key interest rate a quarter point arguing that although inflation is easing it is still too high, and did not discard further rate hikes could be needed since more evidence is needed to be confident inflation is in a sustained downward path. The increase was the eighth since March.

• Thursday, December 15th 2022 - 11:47 UTC

  Fed raises interest rates by 50 points to 4,5%, but US inflation at 7,11% is still far from the 2% target

  

  In a unanimous decision the United States Federal Reserve FOMC raised interest rates by half a percentage point on Wednesday, as it continues to battle a stubborn inflation, but the increase was lower than the three-quarter point which it had implemented seven times since last March, from zero to 4,5%.

• Thursday, September 22nd 2022 - 09:04 UTC

  Fed's Powell and the unfortunate costs of reducing inflation: third 75 basis points interest rate hike

  

  Challenged by the highest level of inflation experienced in the US in over 40 years, the Federal Reserve decided on Wednesday a third consecutive interest rate hike of 75 basis points, bringing the benchmark rate up to a range of 3.0% to 3.25% from 2.25% to 2.50%.

• Tuesday, September 20th 2022 - 10:18 UTC

  US Fed and UK BoE expected to hike interest rates this week, but how far?

  

  The United States Federal Reserve and the Bank of England this week are scheduled to hike interest rates steeply again in a bid to tame inflation. The two central banks are expected to look through recession fears and continue their fight against extraordinary price rises.