Powell vows to prevent inflation from taking hold for the long run

U.S. Federal Reserve Board Chair Jerome Powell testifies before a House Financial Services Committee hearing in Washington, U.S., June 23, 2022.  Mary F. Calvert | Reuters Federal Reserve Chair Jerome Powell vowed Wednesday that policymakers would not allow inflation to take hold of the U.S. economy over the longer term. “The risk is that because … Read more

RBC top analyst sees comeback

Investors who are “apathetic” or negative toward banks will change their stance in the year’s second half, according to RBC Capital Markets’ top banking analyst. Gerard Cassidy predicts bullishness will make a comeback due to strong revenue growth and optimism surrounding credit. “You can really see people coming back to [bank] the stocks. They’re under-owned,” … Read more

Consumer sentiment survey followed by the Fed shows inflation expectations ease slightly

A shopper inside a women’s clothing store in the East Village neighborhood of Des Moines, Iowa, on Saturday, Feb. 5, 2022. Kathryn Gamble | Bloomberg | Getty Images A widely followed consumer sentiment survey released Friday showed inflation expectations have eased slightly. The University of Michigan’s Surveys of Consumers said consumers expect inflation to rise … Read more

5 things to know before the stock market opens Friday, June 24

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street heads for its first weekly advance in the past four A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 22, 2022.  Brendan Mcdermid | Reuters … Read more

Dan Yergin on oil prices falling despite tight supply, Russia tensions

Energy expert Dan Yergin said there are two reasons why oil prices have dropped in the past month despite a market that is still tight: the Fed and Russia’s war in Ukraine. Oil prices had been increasing since last year, spiking to highs after Russia launched an unprovoked war on Ukraine. But since the end … Read more

Stocks Open Higher Ahead of Powell Testimony

U.S. stocks advanced ahead of a second day of testimony from Federal Reserve Chairman Jerome Powell after he warned that rapidly rising interest rates threatened a recession.  The S&P 500 added 0.4% in early trading Thursday. The technology-heavy Nasdaq Composite Index rose 0.4% while the blue-chip Dow Jones Industrial Average also edged up 0.4%. 

Treasury yields in focus as investors assess recession risk

The yield on the benchmark U.S. 10-year Treasury note fell to its lowest level in almost two weeks on Thursday as investors continued to assess the likelihood of a recession. The yield on the 10-year Treasury note was around 4 basis points lower at 3.117%, while the yield on the 30-year Treasury bond fell 3 … Read more

European stocks open to close as recession fears continue

LONDON — European stocks were lower Thursday, as global markets see renewed volatility after a brief recovery following last week’s tumultuous trading. The pan-European Stoxx 600 dropped 0.5% by late morning, having recouped more than half of its earlier losses. Banks fell 1.5% while travel and leisure stocks gained 1.1%. In terms of individual share … Read more

Jerome Powell Takes a Pounding

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking, Housing, and Urban Affairs Committee in Washington, D.C., June 22. Photo: Win McNamee/Getty Images Everybody in Washington loves the Federal Reserve when the cost of money is zero. But when interest rates are rising amid high inflation, affection is scarce, as Chairman Jerome Powell learned … Read more

LIVE: Fed Chair Jerome Powell testifies before Senate Banking Committee on monetary policy — 6/22/22 – CNBC Television

LIVE: Fed Chair Jerome Powell testifies before Senate Banking Committee on monetary policy — 6/22/22  CNBC Television Powell tells Congress the Fed is ‘strongly committed’ to bringing down inflation  CNBC Dow Jones Off Lows As Fed Chief Powell Minimizes Recession Risks  Investor’s Business Daily Wall St opens lower, Powell’s testimony to Congress in focus By Reuters  Investing.com Powell to … Read more