WASHINGTON—Federal Reserve Chair Jerome Powell warned Thursday that Russia’s invasion of Ukraine, which has already driven up oil prices, will likely further magnify the high inflation that has engulfed the U.S. economy. At the same time, Powell said he is committed to doing whatever it will take to slow inflation, underscoring the Fed’s high-risk challenge…
Federal Reserve Will ‘Proceed Carefully’ on Policy Tightening Amid Ukraine War
March 3, 2022
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Business & Economyeconomic policiesEuropeFederal Open Market Committee (FOMC)Federal Reservejerome powellRussia-Ukraine WarWorld
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Federal Reserve Chair Jerome Powell almost guaranteed that rate hikes are coming, but the “implications for the U.S. economy” from the Ukraine–Russia war “are highly uncertain.” Speaking in front of the House and Senate committees, the head of the central bank anticipated quarter-percentage-point increases ahead. Powell conceded that there is always the possibility that the…
Fed’s Powell Tees Up Rate Hike in March on High Inflation and ‘Extremely Tight’ Jobs Market
March 2, 2022
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Business & Economyeconomic policieseconomyEuropeinflationinterest ratesjerome powellMarketsRussia-Ukraine WarUSUS NewsWorld
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Federal Reserve Chair Jerome Powell told lawmakers on Wednesday that the central bank is on track to raise interest rates at its next policy meeting in two weeks, with the Fed chief citing high inflation, robust growth, and an “extremely tight” labor market, while noting that the war in Ukraine was injecting high uncertainty into…
Fed’s Messaging on Pivot Gets High Marks From Wall Street
Federal Reserve Chair Jerome Powell won high marks from Wall Street as he dialed up expectations late last year for a more hawkish policy stance to quell rising inflation, a survey by the New York Federal Reserve published Thursday showed. The report card is included in the New York Fed’s quarterly survey of primary dealers…
The Fed Readies a New Game of ‘Monetary Jenga’
Commentary For the second time of his tenure, Federal Reserve Chairman Jerome Powell is about to embark on what I have previously described as a game of “Monetary Jenga.” The first, as you may recall, occurred immediately upon Powell taking the reins at the central bank. Ironically (given what has followed, especially in just under…
Powell Didn’t Want To
Commentary On Jan. 26, Federal Reserve Chairman Jerome Powell had to make a difficult announcement. At the Federal Open Market Committee’s press conference, Powell announced that Quantitative Easing would end in early March, earlier than expected, and the Fed was likely to announce the beginning of a tightening cycle at its March meeting. For any…
America’s Most Dangerous Unknown Man
Commentary The U.S. Senate will soon vote on Federal Reserve Chairman Jerome Powell’s nomination to a second term. One of the senators opposing Powell is Elizabeth Warren. I don’t often agree with Senator Warren, but I do agree with her assessment that Powell is “dangerous.” However, Warren actually doesn’t understand what makes Powell, or any…
Privately Issued Stablecoins Could Exist Alongside Fed Digital Dollar: Powell
January 12, 2022
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Business & Economycentral bank digital currencycryptocurrencydigital dollareconomic policieseconomyjerome powellMarketsPolicies & ImpactsUSUS News
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Federal Reserve Chair Jerome Powell told Senate lawmakers on Jan. 11 that there’s nothing standing in the way for privately issued stablecoins to co-exist alongside a potential Fed central bank digital currency (CBDC). During a hearing on Powell’s confirmation for a second term at the helm of the Fed, he was asked by Sen. Pat…
Jerome Powell Faces Progressives, Signals Pivot to Curtail Inflation During Senate Confirmation Hearing
New Analysis Federal Reserve Chairman Jerome Powell testified before the Senate on Tuesday on the occasion of his re-appointment by President Joe Biden for a second term in his current position. Powell, who was first nominated by President Donald Trump in 2018 to succeed Janet Yellen as the head of the U.S. central banking system,…
How Long Can Powell’s Scrooge Act Last?
December 31, 2021
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american stock marketBusiness & EconomyBusiness ColumnistsFederal Reservejerome powellOpinionViewpoints
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Commentary As 2021 was entering its final few weeks, the U.S. stock market had begun pulling back anew. But there has been little sign as of this writing of the previous “buy the dip” inclination. Indeed, that seems to have turned now into “sell the rip” whenever any bounce has materialized. Though new media-fanned fears…
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