Page 10 - Jerome Powell

Fed Chair Powell warns of prolonged US recession after coronavirus

He said the US economy may depend on more fiscal stimulus to fight the economic impacts of the coronavirus

Amidst the gloom and doom, the market's exuberance is confounding

For the sake of context, the financial crisis of 2008 had seen the S&P 500 fall by more than 50 per cent from its peak

For Fed Chair Powell, March was intense as response to Covid-19 intensified

Though the calendar gives no details on what was discussed, it suggests an explosion of activity at the US central bank unseen since the darkest days of the 2007-2008 financial crisis

Dow wraps up strongest three days since 1931; S&P 500 surges 6.24%

The Dow finished up 21% from its Monday low, establishing it in a bull market, according to a widely used definition. It was the index's strongest three-day percentage increase since 1931

US Fed cuts rates, central banks coordinate to cushion coronavirus blow

The Bank of Japan just said it will hold an emergency meeting Monday, instead of the March 18-19 scheduled one

Coronavirus outbreak raises risks to outlook: US Fed chief Jerome Powell

US stocks initially advanced after the announcement before sliding into losses, while the 10-year treasury yield neared 1 per cent

Markets seesaw as coronavirus fears linger; Sensex ends 153 points lower

The broader index also witnessed one of its most volatile sessions ever, swinging nearly 400 points, or 3.6%

US Fed keeps rates steady, flags 'uncertainties' from coronavirus outbreak

Central bank keeps key overnight lending rate remains at 1.50%-1.75%; chief says policy appropriate and not on preset course.

Why equities will remain in favour

The global equity markets overall may prove directionless in 2020, but individual stocks still look capable of powering ahead. Investors will need to focus on stock-picking

Fed chief Powell reasserts central bank's independence in talks with Trump

Federal Reserve Chairman Jerome Powell reasserted the independence of the US central bank during White House talks with President Donald Trump on Monday, the Fed said. Powell attended the meeting, which comes amid an unprecedented campaign of public attacks on the central bank, at the invitation of the president, and was joined by Treasury Secretary Steven Mnuchin, the Fed said in a statement. In a tweet, Trump, who has lambasted Powell in harsh, personal terms over monetary policy, said the meeting was "good & cordial," adding that "everything was discussed" including interest rates, inflation, foreign exchange and the Fed's balance sheet policies. The Fed, however, said Powell's comments were consistent with last week's congressional testimony and did not concern "expectations for monetary policy," except to say it will depend entirely on new economic information. "Finally, Chair Powell said that he and his colleagues on the Federal Open Market Committee will set monetary ...

US October job growth beats expectations despite General Motors strike

Job growth has slowed this year, averaging 167,000 per month compared with an average monthly gain of 223,000 in 2018

Donald Trump says Americans are 'very disappointed' after Fed rate cut

Fed officials reduced interest rates by a quarter-percentage point Wednesday and signaled a pause in further cuts unless the economic outlook changes materially

US Fed cuts key rate by 25 bps, but signals pause in its easing cycle

The Fed said it will 'monitor the implications of incoming information for the economic outlook as it assesses the appropriate path' of its target interest rate

Donald Trump blames US Federal Reserve after weak factory output numbers

The outburst followed the release of the Institute for Supply Management's factory index, which slipped to its lowest level since June 2009

Global economic turmoil

There are limits to what central banks can achieve

US Fed cuts interest rate for the second time in a row: Top 4 highlights

Moderate economic activity, weak business fixed investment and exports, and global uncertainties promoted the Fed to lower the key interest rates, a second since the recession of 2008

Donald Trump asks for 'big' rate cut as Fed Reserve faces challenges

The central bank's leadership is under immense political pressure from Trump, who denounces its reluctance to slash rates more aggressively on Twitter almost daily

Will 'act as appropriate': US Fed chief gives no hint about interest rates

The chair, under pressure from President Donald Trump to cut rates soon and deeply, listed a series of economic and geopolitical risks that the Fed is monitoring

Asian indices drop as traders await US Fed Chairman Jerome Powell's speech

The Fed released minutes of its July meeting later on Wednesday, which will provide an insight into its deliberations when cutting interest rates for the first time since the financial crisis

Powell holds his ground as Fed rate cuts may deliver mild jolt to economy

The Republican president has blamed the Fed under Chairman Jerome Powell for undercutting his administration's efforts to boost economic growth