Fed policymakers will weigh a faster timeline at their next meeting on Dec. 14-15
Powell said the US recovery is stronger than those of other major economies, thanks in part to more robust fiscal support
US Federal Reserve Chairman said that it is appropriate to consider wrapping up the central bank's taper of asset purchases "a few months sooner" amid inflation pressures
The recent rise in Covid-19 cases and the emergence of the Omicron variant pose downside risks to US employment and economic activity, Powell said
By choosing continuity, Mr Biden accomplished several things at once
Gold was set on Friday for its worst week in five months, as bullion prices were hammered by increasing bets that the U.S. Federal Reserve would accelerate the pace of stimulus tapering
Latent View Analytics was locked at the 20 per cent upper circuit for the second straight day. The stock has now zoomed 257 per cent from its issue price in just three trading sessions
Japan's Nikkei rose 0.8%, helped by gains in tech stocks such as Sony
TOKYO (Reuters) - The U.S. dollar traded at its highest in over a year to the euro and near a five-year high against the yen as a hawkish tilt by Federal Reserve policymakers, buoyed by strong U.S. data, contrasted to more dovish monetary outlooks in Europe and Japan.
Emerging markets stocks fell 0.18%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.31 points or 0.2%
The dollar index gained 0.37% on the day to 96.853. The euro fell 0.44% to $1.1199
The euro held just above a 16-month trough at $1.1238, having found a measure of support from stronger-than-expected European business survey
Biden's decision comes at a politically delicate time for the central bank
Jerome Powell's second term will be more challenging
Jerome Powell would be the right apolitical candidate to continue heading the US Federal Reserve, President Joe Biden said.
The move, announced by the White House on Monday, rewards Powell for helping rescue the US economy from the pandemic
Powell, 68, will need to be confirmed by the Senate, currently controlled by Biden's Democratic party but closely divided
US Federal Reserve Governor Christopher Waller has urged the central bank to speed up the pace of tapering asset purchases in response to the surging inflation
The dollar rose to its highest against the Japanese yen since March 2017 after U.S. data on Tuesday showed stronger-than-expected retail sales last month
On all of the defining issues of the moment, US Federal Reserve chair has shown that his instincts are out of step with what the country needs