Commentary Pity Federal Reserve Chair Jay Powell. He faces a vastly different economic tableau in what will be his second term than he did for most of his first term. The policy options to fulfill the Fed’s dual mandates—maintaining price stability and full employment—are more at odds now than they have been at any time…
Powell Puts Faster Bond-Buying Taper on Fed’s Christmas Table
The U.S. central bank should consider accelerating the winding down of its large-scale bond purchases at its next policy meeting in two weeks amid a strong economy and expectations that a surge in inflation will persist into the middle of next year, Federal Reserve Chair Jerome Powell said on Tuesday. Powell twinned his remarks, described…
‘Retire’ the Word ‘Transitory’: Powell Inflation Testimony Shakes Stock Market
The SPDR S&P 500 ETF Trust traded lower by 1.8 percent on Tuesday after Federal Reserve chair Jerome Powell changed his tune on the outlook for U.S. inflation. What Happened In testimony to the Senate, Powell said he will no longer be using the term “transitory” to describe the environment of elevated U.S. inflation. “The…
LIVE: Powell, Yellen Testify to Senate Banking Committee
Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen testify before a Senate Banking Committee hybrid hearing, “CARES Act Oversight of Treasury and the Federal Reserve: Building a Resilient Economy.”
US High-Yield Corporate Bond ETF Falls to 8-Month Low After Powell Announcement
CHICAGO—Investors looked to shed some risk in the U.S. corporate bond market on Monday, pushing a fund tracking the high-yield sector to its lowest level since March after Jerome Powell’s nomination for a second term as Federal Reserve chair raised expectations of sooner rate hikes. Kathy Jones, chief fixed income strategist at the Schwab Center…
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