U.S. Senator Elizabeth Warren sharpened her criticism of the Federal Reserve on Monday over its handling of an ethics scandal at the central bank ahead of the renomination hearing of Fed Chair Jerome Powell. Warren, a Democrat and member of the Senate Banking Committee, is one of the lawmakers Powell will appear before on Tuesday…
US Senator Warren Calls on Fed to Release More Ethics Scandal Information
Fed, Markets in Quandry After Friday’s Job Report
Friday’s jobs report for December widely missed its mark, printing at just 199,000 jobs when 400,000 were anticipated. The dismal report raised doubts about the likelihood the Fed would hold to what seemed like an assured interest rate increase just two days earlier, when the Federal Reserve released its minutes from its December meeting. The…
Dollar Ticks Up as Case for March Fed Hike Grows
LONDON—The dollar ticked up on Monday amid rising bets U.S. inflation will bolster the case for higher interest rates while the European Central Bank’s dovish stance on rising prices weighed on the euro. The dollar had met with selling late last week after a weaker-than-expected headline U.S. job-creation figure squeezed traders out of long dollar…
Fed Signals Trigger World Stocks, Bonds Sell-Off
LONDON—Stock markets were deep in the red and some key government bond yields climbed to their highest in years on Thursday after the Federal Reserve signaled the possibility of faster-than-expected U.S. rate hikes and stimulus withdrawal. Both Asia and Europe’s bourses fell heavily after Wall Street’s tech-heavy Nasdaq plunged more than 3 percent on Wednesday…
Stock Market Suffers After Fed Minutes Suggest Earlier Hikes
The Federal Reserve has released minutes of its Dec. 14 to 15 meeting, causing the stock market to plummet in response to the revelation that officials are considering implementing earlier interest rate hikes than previously expected. The document, released on Wednesday, indicates a broad consensus within the Fed that the institution must speed up the…
Dollar’s Rise Pauses Before Fed Minutes; Yen at 5-Year Lows
LONDON—The dollar held below two-week highs on Wednesday as traders awaited the release of minutes from the Federal Reserve’s December meeting, with growing expectations of a rate hike as early as March keeping the yen pinned near a five-year low. While the greenback’s nearly 3 percent rise in the past two months on the back…
Wall Street Opens Lower on Tech Drag; Fed Minutes Eyed
Wall Street’s main indexes opened lower on Wednesday ahead of minutes from the Federal Reserve’s December meeting, as a rise in U.S. Treasury yields hit technology-heavy growth stocks. The Dow Jones Industrial Average fell 77.05 points, or 0.21 percent, at the open to 36,722.60. The S&P 500 opened lower by 5.55 points, or 0.12 percent,…
The Last Great Inflation
Commentary With inflation in the headlines, a look back at the last experience might offer needed perspective. There is no claim here that history repeats exactly. Rather a look back offers ways to dispel nonsense and identify what is important. The Arab oil embargo of 1973 dominates most references to the last great inflation. No…
Global Stocks Fall on Virus Concern, Tighter Fed Policy
BEIJING—Global stock markets and Wall Street futures tumbled Monday amid concern about the latest coronavirus variant and tighter Federal Reserve policy. London and Frankfurt opened sharply lower. Shanghai, Tokyo, and Hong Kong also fell at the start of a trading week that will be shortened by Christmas. Benchmark U.S. oil fell by more than $3…
Fed Announces Monetary Policy Update for December
News Analysis The Federal Reserve indicated that it will pursue a more aggressive policy to fight inflation in a new FOMC statement released on Wednesday. The statement indicates that the Fed intends to implement three rent hikes in the 2022 calendar year, as well as reducing its asset purchase program by $30 billion per month,…
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