Tag: Jerome Powell

OIL PRICES INCREASE ON SIGNALS OPEC MIGHT CUT OUTPUT
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OIL PRICES INCREASE ON SIGNALS OPEC MIGHT CUT OUTPUT

OIL PRICES INCREASE ON SIGNALS OPEC MIGHT CUT OUTPUT Oil prices closed with gains on Friday, driven by a signal from Saudi Arabia that OPEC could cut output, but trading was unstable when investors digested and eventually ignore warnings from the Head of the US Federal Reserve regarding economic pain ahead. Brent crude futures contracts […]

US economy contracts again in 2nd quarter
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US economy contracts again in 2nd quarter

According to the first reading of the Commerce Department on Thursday, the US economy contracts again in the 2nd quarter at a rate of 0.9% annually.   The expectation of the market was an expansion of 0.5%, after the largest economy in the world contracted 1.6% in the first quarter. The data occurs just a few […]

Another large rate hike is possible in September
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Another large rate hike is possible in September

Fed Chair Jerome Powell said on Wednesday that another large rate hike is possible in September as well. But, that will be decided according to the incoming data between now and then. The Fed decision regarding a third consecutive increase of 75 basis points – or something different – will be guided by the fact […]

US Economy is in Confusion 
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US Economy is in Confusion 

The US economy is in confusion about where it will head. Growth seems to be faltering, housing sales are falling and economists warn about a possible recession ahead. But consumers continue to spend, companies continue to publish profits and the economy continues to add hundreds of thousands of jobs each month. Among all this, prices […]

Fed Chair Powell Speaks Live Today
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Fed Chair Powell Speaks Live Today

The US Fed Chair Powell speaks live today pointing out that growth can be slower in dealing with soaring inflation. He also said at European Central Bank Forum on Central Banking 2022 in Sintra, Portugal that this world has been facing serious issues regarding the economy. Since the pandemic, the economy has been driven by […]

FED focused on 2 percent inflation
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FED focused on 2 percent inflation- Jerome Powell

Jerome Powell the Central Bank’s Chair said on Friday that US Federal is deeply concentrating on returning inflation level to its 2% from the current 40-year record high. Jerome Powell also told Fed vows to fulfill its dual mandate which maximum employment and stability in prices. He also added that financial stability motivates the international […]