Powell

Stronger-than-expected economic data could bring more rate hikes, says the US Fed chief. Read more at straitstimes.com.

smooth, it’s probably going to be bumpy,” he told the event organised by the Economic Club of Washington, DC. It’s not going to be... then we would certainly do that,” said Mr Powell, at an event in Washington on Tuesday.

Federal Reserve Chair Jerome Powell stuck to his message that interest rates need to keep rising to quash inflation and this time, the bond market listened. In ...

US equities rose after Federal Reserve chair Jay Powell spoke for the first time since January's blockbuster employment data sent a chill through markets.

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Fed Chairman Jerome Powell spoke Wednesday in a question-and-answer session at the Economic Club of Washington, D.C..

"We need to be patient," he said. It's not going to be smooth," he said. "So if we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have do more and raise rates more than is priced in." It's actually our job to make sure that that's the case," he said. "My guess is it will take certainly into not just this year, but next year to get down close to 2%." One particular point of interest is the personal consumption expenditures price index that the Commerce Department produces. "Our message [at the last meeting] was this process is likely to take quite a bit of time. The central bank targets 2% inflation, and it's currently running well in excess of that by multiple measures. The report showed that These are the very early stages." However, the major averages later flipped back negative after Powell cautioned about strong economic data like last week's jobs report for January, before turning positive again. "The disinflationary process, the process of getting inflation down, has begun and it's begun in the goods sector, which is about a quarter of our economy," the central bank chief said during an event in Washington, D.C.

Shares globally jumped and most currencies rose against the dollar on Wednesday, as investors discerned a dovish tone in comments from Fed Chair Jerome ...

crude rose 0.5% to $77.54 per barrel, helped by the slightly softer dollar. [(7974.T)](https://www.reuters.com/companies/7974.T) debt ceiling and support tax policies that were friendlier to middle class Americans. "The market is looking for a dovish message where it can almost regardless. [State of the Union speech](/world/us/biden-faces-hostile-lawmakers-skeptical-voters-state-union-speech-2023-02-07/) in which he challenged Republicans to lift the U.S. [(.FCHI)](https://www.reuters.com/quote/.FCHI) Britain [(.FTSE)](https://www.reuters.com/quote/.FTSE) and Germany [(.GDAXI)](https://www.reuters.com/quote/.GDAXI) were all well into positive territory, after shares gained on Wall Street overnight and in Asia earlier in the day. [(.MIAPJ0000PUS)](https://www.reuters.com/quote/.MIAPJ0000PUS) rose 0.76% though Japan's Nikkei [(.N225)](https://www.reuters.com/quote/.N225) failed to join in the rally after disappointing results from big tech names including [Nintendo](/technology/nintendo-trims-annual-profit-outlook-firmer-yen-2023-02-07/). Two-year German yields , the most sensitive to any shifts in expectations for interest rates and inflation, rose by as much as 11 basis points (bps) to 2.725% in early trading, their highest since Jan. Treasuries firmed a little on Wednesday with the benchmark 10 year yield down 3 basis points (bps) to 3.649% and the two year yield down 4 bps. [(.MIWD00000PUS)](https://www.reuters.com/quote/.MIWD00000PUS) rose 0.37%, heading back towards the nine-month high it hit in early February, and Europe's STOXX 600 index [(.STOXX)](https://www.reuters.com/quote/.STOXX) gained 0.85% to a fresh nine month peak. "At the moment (markets are ) all about the Fed, but at some point it has to morph into being about growth and earnings growth as well," said Jones. Register for free to Reuters and know the full story

European stocks rallied on Wednesday after investors drew optimism that the US Federal Reserve would not need to raise its benchmark interest rate more than ...

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LONDON/SINGAPORE : The dollar fell on Wednesday after Federal Reserve Chair Jerome Powell declined to meaningfully harden his tone on inflation, ...

That sent the U.S. Against a basket of currencies, the U.S. Advertisement In a question-and-answer session before the Economic Club of Washington on Tuesday, Powell said interest rates might need to move higher than expected if the U.S.

The dollar fell on Wednesday after Federal Reserve Chair Jerome Powell declined to meaningfully harden his tone on inflation, despite very strong U.S. jobs ...

That sent the U.S. [rose for the first time](/markets/asia/japan-dec-household-spending-falls-more-than-expected-real-wages-rebound-2023-02-06/) in nine months thanks to robust temporary bonuses, data on Tuesday showed. economy remained strong, but reiterated he felt a process of "disinflation" is underway. "The markets and the central bank are all in a position now where they're just watching the data, so for now we're less sensitive to Fed officials and far more sensitive to data," said Chris Weston, head of research at Pepperstone. Futures pricing on Wednesday showed that markets are expecting the Fed funds rate to peak just above 5.1% by June, from a range of 4.5% to 4.75% currently. dollar index to a one-month high of 103.96 on Tuesday, as investors raised their expectations of how much further the Fed would need to keep raising interest rates. Register for free to Reuters and know the full story "In fact, Powell essentially fell back on the FOMC statement," he said, referring to the Fed's dollar index fell 0.18% to 103.12 on Wednesday, after slipping 0.3% in the previous session. "One would expect that Powell would have delivered a little bit of a more constructive view on the rate outlook," said Kamal Sharma, senior FX strategist at Bank of America. [question-and-answer session](/markets/rates-bonds/feds-kashkari-says-hes-sticking-54-rate-hike-view-after-surprising-jobs-report-2023-02-07/) before the Economic Club of Washington on Tuesday, Powell said interest rates might need to move higher than expected if the U.S. LONDON/SINGAPORE, Feb 8 (Reuters) - The dollar fell on Wednesday after Federal Reserve Chair Jerome Powell declined to meaningfully harden his tone on inflation, despite very strong U.S.

THE US dollar fell on Wednesday (Feb 8) after Federal Reserve (Fed) chair Jerome Powell declined to meaningfully harden his tone on inflation, despite very ...

The dollar slipped Wednesday after Federal Reserve Chair Jerome Powell failed to offer fresh signs of a hawkish pushback against a resilient U.S. labor ...

That sent the U.S. Against a basket of currencies, the U.S. The euro was last up 0.06% to $1.0729, after falling to $1.067 in the previous session, its lowest since Jan. It remained far above the 20-year low of $0.953 hit in September. dollar index fell 0.3% to 103.11 on Wednesday, after slipping 0.3% in the previous session. "The markets and the central bank are all in a position now where they're just watching the data, so for now we're less sensitive to Fed officials and far more sensitive to data."

Federal Reserve Chairman Jerome Powell threw markets into a tizzy on Tuesday as he spoke about the economy alongside his former boss, Carlyle Group ...

The current labor market imbalance is a reflection of the pandemic’s lasting effect on the US economy and on labor supply, said Powell on Tuesday in answer to a question about the report. Disney has found itself in the middle of a culture war battle that could end up transferring Disney World’s governance to a board appointed by Florida Gov. Iger, who retired as CEO in 2020 only to be brought back in November, has been mostly quiet about his plans for the company since his return. Service-sector inflation, which is more sensitive to a strong labor market, is up 7.5% from the year prior through the end of 2022, and has not abated, he said. And that may be the least of Disney’s problems, The metric is a key indicator of oil companies’ profitability. The company grew three times in size within 24 months, he said and now it must adapt to changing demand for its services. Kashkari has a vote this year on the Federal Open Market Committee, the Fed’s interest-rate setting group. Core services inflation: Powell noted that he’s seeing disinflation in the goods sector and expects to soon see declining inflation in housing. The unemployment rate fell to 3.4% from 3.5%, hitting a level not seen since May 1969. A version of this story first appeared in CNN Business’ Before the Bell newsletter. Stocks struggled for direction as investors tried to get a read on Powell’s economic outlook, attitude towards inflation and on future interest rate hikes.

Federal Reserve chair Jay Powell warned yesterday that it would probably take a “significant period of time” to tame inflation given stronger labour market data ...

LONDON/NEW YORK : The dollar was flat to slightly higher in choppy trading on Wednesday, as investors paused selling the greenback, a day after Federal ...

The New Zealand dollar dipped 0.2 per cent to US$0.6308. "That's negative for the dollar." Futures pricing on Wednesday showed that markets are expecting the Fed funds rate to peak just above 5.1 per cent by July, from a range of 4.5 per cent to 4.75 per cent currently. New York Fed President John Williams on Wednesday added to Fed rhetoric of further pushing US rates higher. Based on that demeanor, he would have not raised more and the outlook itself has not changed on one data point." "The dollar weakened because Powell was not hawkish. Advertisement

The dollar was flat to slightly higher in choppy trading on Wednesday, as investors paused selling the greenback, a day after Federal Reserve Chair Jerome ...

Futures pricing on Wednesday showed that markets are expecting the Fed funds rate to peak just above 5.1% by July, from a range of 4.5% to 4.75% currently. Based on that demeanor, he would have not raised more and the outlook itself has not changed on one data point.” That sent the U.S. The dollar was flat to slightly higher in choppy trading on Wednesday, as investors paused selling the greenback, a day after Federal Reserve Chair Jerome Powell did not significantly change his U.S. “The dollar weakened because Powell was not hawkish. Elsewhere, the dollar rose 0.2% against the yen to 131.315 yen economy remained strong, but reiterated he felt a process of “disinflation” is underway. But the market has priced in Fed cuts as well with the implied fed funds rate at 4.8% by the end of the year. interest rate outlook despite a strong U.S. dollar index to a one-month high of 103.96 on Tuesday, as investors raised their expectations of how much further the Fed would need to keep raising interest rates. dollar index was flat at to 103.33 on Wednesday, after slipping the previous session. The greenback’s outlook remained tilted to the downside as the Fed nears the end of its tightening cycle and the markets price in rate cuts by the end of the year, analysts said.

Treasury yields ticked higher even after commentary from Fed Chair Jerome Powell suggested the central bank is making headway in tamping down inflation.

These are the very early stages of disinflation." "So if we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have do more and raise rates more than is priced in." "The disinflationary process, the process of getting inflation down, has begun and its begun in the goods sector," he said. ["Squawk Box"](https://www.cnbc.com/squawk-box-us/) on Tuesday that it's too early for the [central bank to "declare victory" on inflation](https://www.cnbc.com/2023/02/07/feds-neel-kashkari-says-central-bank-has-not-made-enough-progress-keeping-his-rate-outlook.html). Earlier in his appearance, Powell said 2023 should see "significant declines" in inflation, but more work is necessary to get the job done, and it could take until next year to bring inflation closer to the Fed's 2% goal. "The reality is we're going to react to the data," Powell said during an appearance before the Economic Club of Washington.