Tag Archives: Powells

U.S. stocks fell lower Thursday as Wall Street reeled from assertions by Federal Reserve Chair Jerome Powell that hopes for a policy pivot were “premature” after the central bank delivered a fourth consecutive interest rate hike of 75 basis points. The S&P 500 (^GSPC) sank 1.1% after the index plunged 2.5% in the previous session, its worst loss on a Fed day since January 2021, per Bloomberg data. The Dow Jones Industrial Average (^DJI) shed 150 points, or 0.5%, and the technology-focused… Source link

U.S. stock futures sank lower to start the week, extending a sell-off that began Friday after a hawkish speech by Fed Chair Jerome Powell at the central bank’s gathering in Jackson Hole. Futures tied to the S&P 500 tumbled 0.9%, and futures on the Dow Jones Industrial Average fell by roughly the same margin, or 290 points. Contracts on the tech-heavy Nasdaq Composite shed 1.2%. Meanwhile in the bond market, the benchmark 10-year Treasury note surged above 3%, and the 2-year Treasury yield… Source link

Federal Reserve Chairman Jerome Powell’s odds at renomination continue to hang in the wind, as the White House works through whether or not they should bring in fresh blood to the head of the central bank. Complicating his path to a second term: a scandal that has engulfed at least three senior Fed officials, centered on big financial bets they made during 2020. Regional Fed Presidents Robert Kaplan and Eric Rosengren stepped down from their roles after reporting revealed bets on real… Source link

The White House is pondering whether or not to take the keys to the U.S. economy away from Federal Reserve Chairman Jerome Powell, with the decision likely boiling down to politics. Powell’s term as Fed chairman expires in February of next year, meaning President Joe Biden would have to decide on Powell’s fate relatively soon in order to give the Senate enough time to proceed with the confirmation process. But calls within the Democratic party are emerging to boot Powell. Politico reported… Source link

Stock futures edged higher Thursday evening after closing lower during the regular trading day, as jitters over the prospects of less accommodative monetary policy compounded with fresh geopolitical concerns. Contracts on the S&P 500 ticked up. Earlier on Thursday, the index closed lower to end a five-session winning streak and pull back from an all-time high. Both the Dow and Nasdaq had also ended in the red. More hawkish commentary from Fed policymakers ahead of the central bank’s key… Source link