[ad_1] An alleged video of Fed Chair Jerome Powell’s conversation was shown on Russian state television and reported by Bloomberg News. | (Francis Chung/POLITICO Federal Reserve Chair Jerome Powell spoke on the phone early this year with someone posing as Ukrainian President Volodymyr Zelenskyy, the Fed confirmed — an embarrassingContinue Reading
[ad_1] UBS said in a statement that it would pay the equivalent of $3.25 billion to buy Credit Suisse, in what will be a merger of two institutions considered important to the global financial system. “With the takeover of Credit Suisse by UBS, a solution has been found to secureContinue Reading
[ad_1] Washington: US Federal Reserve Chairman Jerome Powell stressed on Tuesday that central bank policymakers are prepared to raise interest rates higher than previously expected and pick up the pace of increases in the face of hotter-than-expected economic data, according to a media report. “The latest economic data have comeContinue Reading
[ad_1] Fed officials had already estimated that unemployment could rise more than 1 percentage point — which could equate to about 2 million lost jobs — and they may update those projections at their next meeting this month. Friday’s jobs report for February will offer further clarity on a laborContinue Reading
[ad_1] It’s clear the push is already getting traction. Sen. Tim Scott (R-S.C.), joined by nine other Republicans who will be in a position to grill Powell this week, told the Fed chair in a letter Friday that there’s no reason to hike capital requirements for the banks. “Nobody isContinue Reading
[ad_1] The path ahead will come into clearer focus on Tuesday when the Labor Department reports the Consumer Price Index for January, which is likely to show that inflation fell for the seventh consecutive month. It ran at an annualized rate below 3 percent during the second half of 2022Continue Reading
[ad_1] President Joe Biden and the White House can celebrate the report as evidence the economy is continuing to hum along, and it will blunt attacks from Republicans over the administration’s spending policies. But senior officials in the West Wing were privately hoping for a less-robust number. So was FedContinue Reading
[ad_1] “We have more work to do,” he said. “We’re going to be cautious about declaring victory and sending signals that we think the game is won.” Still, Wednesday’s move, the smallest rate increase since last March, brings policymakers another step closer to an expected pause in their inflation fightContinue Reading
[ad_1] The market’s expectation that the central bank will ease up is partly driven by the presence of new faces on the Fed’s seven-member board in Washington. In addition to reappointing Powell, President Joe Biden named three new members and promoted Lael Brainard, who in past years advocated for goingContinue Reading