Jerome Powell

In recent times, central bankers have stressed the need to be nimble, humble even. Recent mistakes warrant some humility

The 50-basis-point rate increase this month was the first of that size in more than 20 years, and has set the Fed on course for a quick tightening of monetary policy

Snap set for worst day on record after profit warning; Abercrombie & Fitch slumps after lowering revenue outlook

"What we need to see is inflation coming down in a clear and convincing way, and we're going to keep pushing until we see that," Powell said Tuesday during a Wall Street Journal live event

Biden in a statement issued following Powell's confirmation said that he is pleased by the Senate's actions and that it will help move forward the administration's agenda to fight inflation

U.S. central bank is not actively considering a 75 basis point increase, but that additional 50 basis point jumps should be on the table for the next couple of meetings: Jerome Powell

The US central bank will begin allowing its holdings of Treasuries and mortgage-backed securities to roll off in June.

The Fed has taken an increasingly aggressive approach to monetary policy as it tackles inflation that is soaring at its fastest pace in 40 years

Excluding the volatile food and energy, the core PCE price index increased 5.2 per cent in March from a year ago, compared with 5.3 per cent in February, Xinhua news agency reported

Jerome Powell is taking direct aim at strong demand that the central bank wants to cool

Shorter maturities have been selling off faster than their longer-dated peers this year as investors ratchet up expectations the Fed will hike rates to combat inflation

The Fed last week raised its benchmark interest rate by a quarter percentage point to a range of 0.25% to 0.5% from near zero

The dollar strengthened against a basket of major currencies on Monday, in the wake of comments from US Federal Reserve Chair Jerome Powell

Fed policymakers last week raised interest rates for the first time in three years and signaled ongoing rate hikes ahead

Not all of the Fed's efforts to tighten monetary policy have worked the same way.

The interest rate path shown in new projections by policymakers is tougher than expected, reflecting Fed concern about inflation that has moved faster

Russia's attack has whiplashed financial markets and sent energy and commodity prices surging, with West Texas Intermediate crude hovering around $110 a barrel.

Consumer prices are already rising at their fastest pace in four decades, having jumped 7.5 per cent in January compared with 12 months earlier

Powell called the Russian invasion of Ukraine 'a game changer' that could have unpredictable consequences

The Dow Jones Industrial Average was up 2.13% at 34,004.63 points, while the S&P 500 gained 2.17% to 4,399.6