Breaking News: Economy

Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent approach

Christopher Waller, US President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, DC, US, on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller on Friday echoed recent sentiments from his colleagues, saying he expects a big …

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Fed Chair Powell vows to raise rates to fight inflation ‘until the job is done’

Federal Reserve Chairman Jerome Powell in an appearance Thursday emphasized the importance of getting inflation down now before the public gets too used to higher prices and comes to expect them as the norm. In his latest comments underlining his commitment to the inflation fight, Powell said expectations play an important role and were critical …

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Watch Fed Chair Jerome Powell speak live in Q&A at the Cato Institute

[The stream is slated to start at 9:10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Thursday morning in a question-and-answer session at the Cato Institute, a Washington, DC-based think tank. His remarks come with markets widely expecting the Fed …

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Fed Vice Chair Brainard vows ‘we are in this for as long as it takes’ to stop inflation

Federal Reserve Vice Chair Lael Brainard vowed Wednesday to press the fight against inflation that she said is hurting lower-income Americans the most. That will mean more interest rate increases and keeping rates higher for longer, she said in remarks prepared for a speech in New York. “We are in this for as long as …

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

Federal Reserve Board Chairman Jerome Powell speaks during a news conference in Washington, DC, on July 27, 2022. Mandel Ngan | AFP | Getty Images Traders are now seeing a near certainty that the Federal Reserve enacts its third consecutive 0.75 percentage point interest rate increase when it meets later this month. The probability of …

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August 2022 jobs report:

August 2022 jobs report: Nonfarm payrolls rose solidly in August amid an otherwise slowing economy, while the unemployment rate ticked higher as more workers rejoined the labor force, the Bureau of Labor Statistics reported Friday. The economy added 315,000 jobs for the month, just below the Dow Jones estimate for 318,000. The unemployment rate rose …

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Jobless claims total 232,000, the lowest level in two months

Jobless claims total 232,000, the lowest level in two months Initial filings for unemployment insurance fell to their lowest level since late June last week, a sign that the labor market is resilient amid a slowing economy. Claims totaled a seasonally adjusted 232,000 for the week ended Aug. 27, a decline of 5,000 from the …

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Private payrolls grew by just 132,000 in August

Private payrolls grew by just 132,000 in August A hiring sign is seen in a cafe as the US Labor Department released its July employment report, in Manhattan, New York City, August 5, 2022. Andrew Kelly | Reuters Companies sharply slowed the pace of hiring in August amid growing fears of an economic slowdown, according …

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Fed’s Mester sees benchmark rate above 4% and no cuts at least through 2023

Fed’s Mester sees benchmark rate above 4% and no cuts at least through 2023 Loretta Mester at Jackson Hole, Wyoming David A. Grogan | CNBC Cleveland Federal Reserve President Loretta Mester said Wednesday she sees interest rates rising considerably higher before the central bank can ease off in its fight against inflation. Mester, a voting …

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Fed’s Williams pushes back on expectations of a rate cut next year

John Williams, chief executive officer of the Federal Reserve Bank of New York, speaks at an event in New York, November 6, 2019. Carlo Allegri | Reuters New York Federal Reserve President John Williams said Tuesday he expects interest rates to continue higher and to remain at those levels until inflation is subdued. Echoing recent …

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