A look at the day ahead in Asian markets. Investors in Asia hoping for some relief from surging U.S. bond yields and a rampant dollar would have been deflated by remarks on Tuesday from Federal Reserve Chair Jerome Powell,
Federal Reserve Chair Jerome Powell said firm inflation had introduced new uncertainty over whether the central bank would be able to lower rates this year.
Given the strength of the labor market and progress on inflation so far, it’s appropriate to allow restrictive policy further time to work,” Powell said.
Top U.S. central bank officials including Federal Reserve Chair Jerome Powell backed away on Tuesday from providing any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for longer and further dashing investors' hopes for meaningful reductions in borrowing costs this year.
Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon.
The recent data have clearly not given us greater confidence and instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during an event sponsored by the Wilson Center.
By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell said on Tuesday the U.S. central bank may need to keep interest rates higher for longer than previously thought, given what he called a "lack of further progress" this year towards the 2% inflation target.
Federal Reserve Chair Jerome Powell on Tuesday said that it is taking longer than previously expected for inflation to reach the central bank's 2% target.
US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates. “We’ve said at the FOMC [Federal Open Market Committee] that we’ll need greater confidence that inflation is moving sustainably toward 2 per cent before it would be appropriate to ease policy,
US stocks wavered Tuesday after Federal Reserve Chair Jerome Powell said a “lack of further progress” on inflation means the central bank likely won’t cut interest rates at its upcoming policy meeting just two weeks away,
Mester said Wednesday that the first three months of 2024 were a bump in the road in the fight against inflation, and the Federal Reserve should take a patient approach to changing interest rates until more data comes in.
After surging on Tuesday morning, the Dow Jones Industrial Average and other major stock indexes tapped the brakes in the afternoon as the Federal Reserve said it needs more time to deal with stubborn inflation.
Federal Reserve Chairman Jerome Powell indicated recent high inflation is making it less likely that interest rates will be cut in the coming weeks and months. Powell, speaking during a question-and-answer session in Washington,
Stock Futures Rise After Powell Comments Dent Rate-Cut Hopes Further U.S. stock futures rebounded early Wednesday after Federal Reserve Chairman Jerome Powell said progress on bringing down inflation stalled,
Federal Reserve chair Jerome Powell has said there’s been an unexpected “lack of further progress” on tackling the record-high inflation rates that hit the US in recent years, putting the brakes on expected rate cuts from the central bank.
Stocks close mixed; Powell says it’ll take longer than expected to be confident that inflation is moving down; housing starts fall; industrial production rises.
U.S. stocks on Tuesday remained rangebound in volatile trade, eventually ending mixed. The uncertain session came after Federal Reserve chair Jerome Powell noted that recent data showed a lack of further progress on inflation.
Federal Reserve Chair Jerome Powell said Tuesday that it will likely “take longer than expected” for the central bank to gain the confidence that inflation is sustainably falling to 2 percent and begin cutting interest rates.
Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year because “recent data have clearly not given us greater confidence” that price increases are under control.
The Federal Reserve is signaling it won’t be cutting interest rates as it had planned. Fed Chair Jerome Powell said they’re focusing on bringing down inflation. We discuss what that means for your pocketbook with Ali Velshi,
Federal Reserve Chairman Jerome Powell's comments on Tuesday that firm inflation questioned whether rates will be cut without an unexpected economic slowdown are likely to lift the dollar in the near term,
Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates.
Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings.
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Wall Street stocks ended little changed Tuesday as markets digested mixed economic data and Federal Reserve commentary suggesting interest rates would remain high for longer.
"Recent data have clearly not given us greater confidence" that inflation is coming fully under control and "instead indicate that it's likely to take longer than expected to achieve that confidence," Powell said during a panel discussion.