JEROME POWELL
European shares rise after Powell's dovish comments; focus on elections
European shares rose on Wednesday as investors welcomed dovish comments from Federal Reserve Chair Jerome Powell and looked ahead to the second round of the French vote and a national election in the UK.
Yen slides to fresh lows as Japan authorities stick to sidelines
The Australian dollar rose on retail sales data, suggesting a Reserve Bank rate hike, while China's yuan hit an eight-month low due to local authorities' currency tolerance.
US stocks back at records while European bourses retreat
Wall Street equity indices advanced to fresh records Tuesday as markets embraced commentary from Federal Reserve Chair Jerome Powell, while European bourses retreated on unease about upcoming French elections. But bourses in Paris and Frankfurt both retreated amid concerns about the potential economic fallout should the far right win power in France in weekend elections.
Dollar on the defensive amid lower yields, yen hovers near 38-year trough
The dollar weakens after Powell's dovish U.S. bond yield comments, amid potential Japanese intervention during U.S. holiday. Concerns over Biden presidency and easing long-term Treasury yields persist, as local inflation remains steady and the Australian dollar sees a rise.
Fed chief Jerome Powell says more evidence of falling inflation needed before rate cuts
Federal Reserve Chair Jerome Powell stated the U.S. central bank requires more data before reducing interest rates to confirm the recent lower inflation is accurate. May data showed no increase in the Fed’s preferred inflation measure, with the 12-month rate decreasing to 2.6%, still above the 2% target.
Fed's Powell says more evidence of falling inflation needed before rate cuts
The Fed has kept its benchmark policy interest rate steady in the 5.25%-5.5% range since last July, but officials are debating when to ease monetary policy as inflation edges back to the central bank's 2% target. Inflation is still more than half a percentage point above that target, according to the Fed's preferred personal consumption expenditures price index, and was described as "elevated" in the central bank's June 12 policy statement.
Fed's Goolsbee: 'More months' of good inflation data needed
Federal Reserve Bank of Chicago President Austan Goolsbee expressed relief over cooling inflation in May but prefers more months of data before cutting interest rates.
Fed holds rates steady, sees just one cut in 2024 despite inflation progress
The markdown in the outlook for rate cuts, from three quarter-percentage-point reductions seen in the Fed's March projections, was made despite the central bank's acknowledgement in its new policy statement of "modest further progress" towards its 2% inflation target - an upgrade from its May 1 statement.
Is Fed FOMC outcome hawkish or dovish? Here's is what Street says
The US Federal Reserve maintained rates at 5.25-5.50% in its June monetary policy, with Chair Jerome Powell expressing caution about the inflation outlook and the need for data revision. Experts weigh in on the decision.
Fed outcome expectations: Markets hawk-eyed for any clues on rate easing this year
The US Federal Reserve is anticipated to announce its key policy decision, including the trajectory of interest rate cuts and navigation of the economic landscape amidst inflation concerns.
US Fed's 'dot plot' could offer glimpse of rate-cut resolve
Since raising their benchmark federal funds rate more than five percentage points starting in March 2022, the Federal Open Market Committee (FOMC) has held borrowing costs at a two-decade high since July. A host of Fed leaders have suggested in recent weeks they see no rush to cut rates, with inflation more persistent and the outlook for growth staying solid.
US Fed likely to remain on pause and pare back rate cut expectations
The US Federal Reserve is likely to keep interest rates unchanged this week, but could pare back the number of cuts it has penciled in for this year, as policymakers digest a mixed bag of economic data. But with the data still painting a mixed picture, he is unlikely to rock the boat too much this week, according to Oxford Economics chief US economist Ryan Sweet.
Fed's favourite underlying inflation gauge is seen cooling
Economists expect the personal consumption expenditures price index minus food and energy - due on Friday - to rise 0.2% in April. That would mark the smallest advance so far this year for the measure, which provides a better snapshot of underlying inflation.
Fed Chair Jerome Powell tests positive for COVID-19, working from home
Federal Reserve Chair Jerome Powell tested positive for COVID-19 on Thursday and is experiencing symptoms. He is working from home and following CDC guidelines. Despite his illness, Powell plans to deliver his commencement address to Georgetown Law School on May 19 via prerecorded video.
Industrials lift European shares to record high ahead of US inflation data
Europe's benchmark index climbed to a record high on Wednesday, as upbeat earnings boosted industrials and healthcare stocks, while investors buckled up for a highly anticipated U.S. inflation print.
Fed's Powell: PPI mixed, next move unlikely to be a rate hike
Though he said "my confidence in that is not as high as it was," given faster than expected inflation through the first three months of the year, the U.S. central bank chief said it remained unlikely in his view that the Fed would have to raise rates any further, even if the prospect for rate cuts has become less certain.
US Fed vice chair says interest rates should remain on pause
The US Federal Reserve has hiked interest rates -- and held them -- at a 23-year high as it looks to bring inflation down to its long-term target of two percent.
Asian shares subdued as China trade eyed, yen steadies after recent falls
Later in the day, the Bank of England (BoE) will decide its interest rate policy, with all eyes on the prospects of a June rate cut following the overnight move by Sweden's Riksbank to cut rates, which underlined Europe's divergence from the U.S. Federal Reserve.
Fed's Powell says looming US election will not sway rate decisions
latest policy meeting, said Fed policy decisions will be guided by "what we think the right thing for the economy is," repeating a long-held stance of ignoring politics in the central bank's economic analysis.
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