Fed Chairman Powell pledges to raise rates to fight inflation ‘until the job is done’

Federal Reserve Chairman Jerome Powell in an appearance on Thursday stressed the importance of bringing inflation down now before the public gets too used to higher prices and comes to expect them like the standard. In his final comments outlining his commitment to fighting inflation, Powell said expectations played an important role and were key … Read more

Market braces for another three-quarter point hike from the Fed this month

Federal Reserve Board Chairman Jerome Powell speaks during a press conference in Washington, DC on July 27, 2022. Mandel Ngan | AFP | Getty Images Traders now see near certainty that the Federal Reserve will enact its third straight 0.75 percentage point interest rate hike at its meeting later this month. The probability of a … Read more

Powell’s Jackson Hole speech comes with the Fed and the market on different pages

The Federal Reserve keeps telling the market that it really wants to beat inflation, even if it means damage elsewhere. But the market is still struggling to take it seriously. It will therefore be up to Fed Chairman Jerome Powell next week to push the case forward. The central bank chief will address colleagues at … Read more