Morgan Stanley’s Mike Wilson is telling investors to brace for a winter downdraft. He warns S&P 500 is vulnerable to a 23% drop — bringing it to 3,000. “Even though a majority of insti...
Tag: Jerome Powell
Powell reiterates Fed is not going to become a ‘climate policymaker’
Chair of the Board of Governors of the Federal Reserve System Jerome H. Powell participates in a panel during a Central Bank Symposium at the Grand Hotel in Stockholm, Sweden, January 10, 2023. Claudi...
Major Natural Disasters Cost U.S. $165 Billion Last Year—Here Are The Priciest Weather Events
Topline Large-scale weather and climate disasters totaling at least $1 billion in losses cost the U.S. an estimated $165 billion in 2022, according to data released Tuesday by the National Oceanic and...
Recession Fears 2023: What Lies Ahead?
Getty Images Key takeaways A 2023 recession may be on the way, with economists predicting a 70% chance of economic downturn this year However, economists haven’t agreed on when it will begin or how lo...
Powell stresses need for Fed political independence on tackling inflation
Federal Reserve Chairman Jerome Powell on Tuesday emphasized the need for the central bank to be free of political influence while it tackles persistently high inflation. In a speech delivered to Swed...
Fed minutes December 2022:
WASHINGTON – Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released Wednesday from...
Will Federal Reserve Rate Hikes Pull Down Inflation? Probably Not, New Research Shows
US Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open … [+] Market Committee meeting in Washington, DC on July 31, 2019. – The US Federal Reserve ...
Wells Fargo Ordered To Pay Customers $3.7 Billion For Causing ‘Financial Harm’
Topline Wells Fargo will have to pay $3.7 billion in fines and refunds to customers for several consumer financial law violations, according to U.S. regulators Tuesday, the largest penalty against the...
Housing Recovery Forecast For 2024 As Homebuilder Sentiment Falls Again
(Photo by Justin Sullivan/Getty Images) Getty Images Key Takeaways Confidence from homebuilders has now fallen every month for a year, hitting levels not seen since 2012, according to the National Ass...
Fed Hikes Rates A Little More And No Santa Rally So Far As Markets Remain Down
Getty Images TL;DR The Fed has hiked rates again this month, though the 0.50 percentage point increase slowdown from the 0.75 percentage point increases we’ve seen at the past four meetings The annual...
Why The Federal Reserve Can’t Solve Food Price Inflation
Federal Reserve Board Chairman Jerome Powell. (Photo by Samuel Corum/Getty Images) Getty Images The Federal Reserve has raised interest rates another 50 basis points, in an attempt to tamp down inflat...
Is a Recession Likely When Everyone Has a Job?
Is a Recession Likely When Everyone Has a Job? getty While economists jawbone about the odds of a recession, a competing narrative suggests this time might be different. Those of us in the business of...
NASDAQ-100 Weakens Further: A Price Chart Analysis
Nasdaq, Nasdaq-100, Apple, growth getty AppleAAPL , MicrosoftMSFT and AmazonAMZN are the 3 biggest components of the NASDAQ-100 Index and it’s been months since any of them have seen higher highs. Inv...
Fed Sees Further Hikes In 2023, Here’s What Could Change That
WASHINGTON, DC – JANUARY 29: At its December rate decision, the Fed indicated that rates could … [+] exceed 5% for much of 2023, but data could change that (Photo by Samuel Corum/Getty Ima...
Here’s everything the Federal Reserve is expected to do Wednesday
Call it a sign of the times where a half percentage point interest rate increase from the Federal Reserve is considered looser monetary policy. Prior to this year, the Fed hadn’t boosted benchma...
Fed raises interest rates half a point
The Federal Reserve on Wednesday raised its benchmark interest rate to the highest level in 15 years, indicating that the fight against inflation is not over despite some promising signs lately. Keepi...
Fed Ends 0.75% Streak, Opts for Lower Rate Increase in December
The Federal Reserve bumped interest rates by half of a percentage point on Wednesday, putting an end to its streak of 75 basis point rate increases which started back in June. The US central bank cit...
Prices rose less than expected in November, up 7.1% from a year ago
Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up. The consumer price index, which measures a wide bas...
Consumers see inflation easing considerably in the next year, New York Fed survey shows
Shoppers carry bags of purchased merchandise at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. Mark Makela | Getty Images Consumers grew more optimistic about inflatio...
Inflation backdrop may increase appetite for this roughed-up bond play
The appetite for Treasury inflation-protected securities ETFs, otherwise known as TIPS, may soon increase. According to Charles Schwab’s D.J. Tierney, these investments are becoming more appeali...
This Week’s Job Report Presents Mixed News For Investors
Getty Images Key takeaways Thursday’s jobs report and unemployment report found that November’s numbers performed slightly better than expected Meanwhile, last week’s jobless claims rose roughly in li...
When Is The December Fed Meeting And What To Expect From It
The Federal Reserve will once again set interest rates on 14, a 0.5 percentage point hike is … [+] expected. Photographer: Valerie Plesch/Bloomberg © 2022 Bloomberg Finance LP The markets expect...
The Twin Sisters Of The Dismal Science
Portrait of Thomas Carlyle, Scottish historian, satirical writer, essayist, translator, philosopher, … [+] mathematician, and teacher getty The inflation numbers are in and they’re up but the yi...
U.S. Added 263,000 New Jobs In November
Topline Just days after Federal Reserve Chair Jerome Powell signaled a slowdown in the central bank’s aggressive economic tightening campaign, the job market posted a much-stronger-than-expected repor...
Gold & Silver Stocks Perk Up
closeup of silver eagle and golden american eagle one ounce coins on black background getty The precious metals sector is showing strength after Fed Chair Jerome Powell said interest rates increases m...
Mortgage Rates Fall As Inflation Eases And Fed Signals Smaller Hikes Ahead
Fed officials signal the pace of rate hikes may slow. getty Mortgage rates fell to a two-month low this week as bond investors bet inflation will continue easing and the Federal Reserve signaled it wi...
Disappointing Nowcasts For Upcoming Inflation Highlight Fed’s Concerns
Federal Reserve Chair Jerome Powell speaks at the Hutchins Center on Fiscal and Monetary Policy at … [+] the Brookings Institute on Wednesday, Nov. 30, 2022, in Washington. (AP Photo/Nathan Howa...
“The Committee Is Going To Have To Do More”
| Getty Images Key Takeaways Jim Bullard, a voting member of the FOMC, feels that the Fed will have to continue with rate hikes because inflation isn’t cooling off enough. Many analysts have pointed t...
Jobless Claims Fall Despite Layoffs And Inflation
| Getty Images Key Takeaways Despite constant fears of high inflation and news of layoffs, the October jobs report announced that 261,000 non-farm jobs were added. The Fed has been watching the labor ...
46,000 Laid Off In November Alone As Job Cuts Grow
Topline More than 46,000 people lost their jobs in two dozen large corporate layoffs in November—including nearly 4,000 just on Wednesday—according to Forbes layoff tracker, as employers fear recessio...
Jerome Powell Says Federal Reserve’s Rate Hikes Could Slow As Soon As December
Topline Stocks jumped Wednesday afternoon after Federal Reserve chair Jerome Powell indicated a reprieve from the Fed’s most aggressive interest rate hikes in four decades is on the horizon as soon as...