DIRS.INFO The most relevant business & tech news

Associate Supreme Court Justice Clarence Thomas arrives for the swearing-in ceremony of Neil Gorsuch as an Associate Supreme Court Justice in the Rose Garden of the White House, Washington, D.C., April 10, 2017. Two leading Democratic senators are pressing Supreme Court Justice Clarence Thomas to say whether he repaid a wealthy friend any of the principal for a $267,230 loan he used to buy a luxury motorhome. The letter to Thomas's lawyer, dated Tuesday, raises questions about potential tax violations by the conservative justice, who is the longest-serving member of the Supreme Court. Democrats point to reports that his wife, Ginni Thomas, took part in efforts to overturn the results of the 2020 election. The Supreme Court heard arguments in Trump's immunity appeal on April 25, with Thomas on the bench.

Persons: Clarence Thomas, Neil Gorsuch, Ron Wyden, Sheldon Whitehouse, Thomas, Anthony Welters, Prevost Le, Wyden, Elliot Berke, Whitehouse, Justice Thomas, Welters, Berke, ProPublica, Harlan Crow, Harlan, Donald Trump, Ginni Thomas Organizations: Justice, White House, D.C, New York Times, Finance Committee Locations: Rose, Washington, Welters

☆ House Democrat presses oil CEOs for details of Trump's fundraising dinner at Mar-a-Lago
▼ + stars: | 2024-05-14 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +1 min

Rep. Jamie Raskin (D-MD) speaks during a House Committee on Oversight and Accountability hearing on Capitol Hill in Washington, DC, on September 28, 2023. The House Oversight Committee's top Democrat asked oil executives to reveal whether former President Donald Trump had proposed a "quid-pro-quo" arrangement to them at a recent Florida fundraising dinner, according to letters released Tuesday by Rep. Jamie Raskin, D-Md. The letters arose from a Washington Post report that Trump hosted the executives for dinner Apr. "You all are wealthy enough," Trump reportedly told the assembled guests. Raskin asked the executives to provide descriptions of any discussions related to policy proposals or campaign finance they had at the dinner, as well as any efforts by the CEOs' respective companies to support Trump's campaign.

Persons: Jamie Raskin, Donald Trump, Trump, Raskin Organizations: Capitol, Democrat, Washington Post, Mar, Biden Locations: Washington ,, Florida, Gulf of Mexico

☆ How the Fed’s quest for transparency made markets more volatile
▼ + stars: | 2024-05-11 | by ( Merritt Enright | ) www.cnbc.com time to read: +2 min

Markets typically respond to Fed comments with price swings in either direction, and recent research shows they are particularly reactive to Powell. And given the Fed's "data-dependent" approach, the baseline can change rapidly as new economic reports are released. "So now we're stuck with a system where there's only one view, there's only one outlook, it's a baseline outlook. And there's really no way to understand the Fed's thinking about where are the risks." Watch the video above to learn more about how the Fed's busy speaking schedule can create market volatility and how it balances transparency with market impact.

Persons: Jerome Powell, Powell, Andrew Levin, —, Levin, Ben Bernanke Organizations: Fed, Federal, Center for Economic Policy Research, Dartmouth College, Federal Reserve Locations: Federal, what's

☆ The Investment Committee's win streaks
▼ + stars: | 2024-05-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Investment Committee's win streaksThe Investment Committee discusses their stocks on winning streaks and how to trade them from here.

☆ Americans will lose full Social Security benefits in 11 years, according to the program's trustees — a year later than expected
▼ + stars: | 2024-05-06 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Full Social Security benefits are expected to run out in 2035, per the program's trustees. AdvertisementAs more Americans fear being unprepared for retirement — and rely solely on Social Security — those full benefits might not be long-lived. Meanwhile, among the income that typical retirees do receive, just under 80% see income from Social Security. The latest estimates on Social Security also come as the US economy braces for a "peak boomer" wave of new retirees. That's the biggest group of boomers retiring yet, and, per that analysis, many will end up having to rely on Social Security benefits to stay afloat.

Persons: That's, —, William Arnone, Martin O'Malley, Kevin Hern Organizations: Security, Social Security, Service, National Academy of Social Insurance, Insurance Trust, Disability Insurance Fund, Social, Survey, Alliance, Lifetime, GOP, Republican

☆ What's driving this multiday rally, plus Jim Cramer's quick takes on 4 stocks
▼ + stars: | 2024-05-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stock gains continue: The market is higher on Monday, extending its gains over the past three sessions to nearly 3%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, overbought, Jim Cramer's, Jim, Mellody Hobson, Howard Schultz, Laxman Narasimhan, Eli Lilly, Amgen, Lilly, Christian Organizations: CNBC, Stock, Starbucks, Worldwide Developers Conference, VisionPro, Nvidia, pharma, FDA, Simon Property Group, Club, Rockwell Automation, Jim Cramer's Charitable, Apple, Getty Locations: WWDC, Hamburg, Germany

☆ Wall Street Cruel Summer: Stock Market Crash, Inflation Ends Vacation
▼ + stars: | 2024-05-05 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

Inflation canceled that, and now it's almost certain that Wall Street's summer is canceled, too. That means Wall Street's fantasies of decamping to the Hamptons for the summer have shattered. You can see why this tug-of-war will keep Wall Street on its toes and off Georgica Beach. There is a certain set on Wall Street that does not get to "rosé all day" on Hamptons summer water when currencies trade that way. The simplicity that Wall Street hoped for is one of the few options that's no longer on the table.

Persons: —, Justin Simon, decamping, Jerome Powell, opportunistically, Jamie Dimon, Torsten Slok, Slok, Powell, we'd, David Lefkowitz, dory, McDonald's, Silas Myers, Wall, Zuck, Simon, they're, it's Organizations: Federal Reserve, Jasper Capital, Nasdaq, Hamptons, JPMorgan, Fed, Pepsi, Mar Vista Investments, Wall, Nvidia, Tesla, Microsoft, Meta, Apple, EU Locations: Georgica, Japan

☆ Donald Trump says he doesn't care too much about his legal troubles: 'Life is life'
▼ + stars: | 2024-05-05 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Read previewDonald Trump told attendees at a private donor event in Florida on Saturday that he wasn't too bothered about his numerous legal troubles. Nevertheless, Trump told those in attendance that he was shocked when he first found out he had been indicted. I got indicted," Trump said, per the report. REUTERS/Jane RosenbergDuring the Mar-a-Lago event, Trump also took the opportunity to hit out at Democrats, saying they were "running a Gestapo administration," referencing the Nazi secret police force. Doug Burgum, Ohio Sen. JD Vance, Florida Sen. Marco Rubio, and Florida Rep. Byron Donalds.

Persons: —, Donald Trump, It's, Trump, Stormy Daniels, Jane Rosenberg, Biden, South Carolina Sen, Tim Scott, Elise Stefanik, Doug Burgum, Doug Burgum , Ohio Sen, JD Vance, Florida Sen, Marco Rubio, Byron Donalds, Mike Johnson, cochair Lara Trump, Donald Trump's Organizations: Service, Mar, NBC News, Business, REUTERS, Manchurian, Republican National Committee's, Sunshine, CNN, Tim Scott , New York, North Dakota Gov, Florida Rep, House GOP Locations: Florida, New York, China, Russia, Ukraine, Sunshine State, South Carolina, Tim Scott ,, North, Doug Burgum , Ohio

Major corporations often don't want to seem like they're taking one side politically, so they either sponsor both conventions, or neither. Conventions could see new sponsorsThe Democratic and Republican conventions this summer are the first fully in-person conventions since the 2016 election. Democratic convention organizers in April said if corporations had any reluctance to back the RNC, it hasn't hampered Chicago's efforts to lure donors. Microsoft in 2012 contributed over $1.5 million in a mix of in-kind and cash contributions to the Republican convention. JPMorgan donated $200,000 to the 2012 Republican convention and didn't write a check for the 2016 event.

Persons: Donald Trump, Jon Cherry, Rashad Robinson, Robinson, —, Fiserv, Greg Goldner, Trump, Donald Trump's, aren't, they'll, Joe Biden, Trent Morse, Morse, they've, Alison Prange, Reince Priebus, Priebus, it's, Steve Kornacki's, Biden, Nancy Pelosi, Michelle Yeoh, Natalie Edelstein, Michael Sacks, Sacks, J.B . Pritzker, Barack Obama, Alex Hornbrook, There's, Taylor Swift, she's, Mitt Romney, Obama, didn't, General Motors Organizations: Christian Media, The Gaylord, Center, Getty, Republican National Convention, Republican, NBC News, Trump, Fiserv Inc, Democratic, Fiserv, RNC, Resolute Consulting, GOP, Corporations, Fortune, Milwaukee Journal Sentinel, Democrats, White House, Milwaukee, NBC, Wall, Republican National Committee, Wall Street, Biden, TV, Kentucky Derby, Street Journal, Northwestern Mutual, Wisconsin Fortune, Democratic National Convention, WEC Energy Group, Manpower Group, Conventions, Metropolitan Milwaukee Association of Commerce, DNC, Convention, Chicago, Longtime Democratic, Illinois Gov, White, Correspondents, Commission, Facebook, Google, Microsoft, Bank of America, FEC, Meta, Skype, CNBC, JPMorgan Chase, Walmart, JPMorgan, General Motors, General, Motors, Comcast, Press, Trade Locations: Nashville , Tennessee, Milwaukee, Wisconsin, America, Chicago, NBCUniversal, Philadelphia

Spokespeople for Paramount, Redstone's National Amusements, the special committee and Skydance declined to comment. Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter. Paramount Global shares jumped more than 12% on the news that Sony and Apollo submitted a letter formalizing its interest, earlier reported by The New York Times and Wall Street Journal. A $26 billion offer for Paramount Global values the company higher than the company's current $22 billion enterprise value. Redstone could also argue she's more comfortable with pushing forward at Paramount Global without a sale.

Persons: Skydance, hasn't, David Ellison's Skydance, Shari Redstone, It's, Redstone's, Bob Bakish Organizations: Paramount, Sony, Apollo, Skydance, RedBird Capital, KKR, Sony Pictures, Apollo Global Management, Paramount Global, The New York Times, Wall Street Journal, Hollywood, Matrix Asset Advisors, Aspen Sky Trust, Redstone Locations: Apollo

☆ Democratic senator aims at Amazon's labor practices with first federal bill regulating quotas
▼ + stars: | 2024-05-02 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

The bill, called the Warehouse Worker Protection Act, is the first attempt to police warehouse quotas at the federal level, after similar laws have passed in states including California, New York, Washington and Minnesota. The legislation would require employers to be more transparent about workplace quotas and potential disciplinary consequences, and provide workers with at least two business days' notice of any changes to quotas or workplace surveillance. Wendy Taylor, a packer at an Amazon warehouse in Missouri, said during Markey's press conference on Thursday that she and others are "fighting for quota transparency." Taylor blamed Amazon's "inhumane work rates" for the injury, and added, "Amazon workers provide same-day shipping, but we can't even get the same-day care we deserve." WATCH: Amazon's worker safety hazards come under fire from regulators and the DOJ

Persons: Democratic Sen, Ed Markey, Markey, It's, Wendy Taylor, packer, Taylor, Amazon's Organizations: Democratic, Amazon, Health, Education, Labor, Pensions, Occupational Safety, Health Administration, OSHA, U.S, Attorney's, U.S . Department of Justice, DOJ Locations: California , New York, Washington, Minnesota, U.S, Missouri

☆ Fed's Jerome Powell: Inflation remains too high and path forward is uncertain
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's Jerome Powell: Inflation remains too high and path forward is uncertainFed Chair Jerome Powell speaks following the Federal Reserve's Federal Open Market Committee's decision to keep interest rates unchanged, and provides updates on the Fed's fight against inflation.

Persons: Fed's Jerome Powell, Jerome Powell Organizations: Federal Reserve's

☆ The economy needs to take one of these 2 paths before the Fed cuts interest rates, Powell says
▼ + stars: | 2024-05-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The labor market has continued to be strong, dampening any urgency the Fed might have to cut rates. AdvertisementThe Fed's decision to hold rates steady prompted some pushback from Democratic lawmakers who are worried that continued high rates will hurt Americans. "The Fed must remember its dual mandate and avoid keeping these rates too high for too long," Boyle said. And he won't risk easing up on the Fed's restrictive policy too early. Advertisement"We believe it is restrictive, and we believe over time it will be sufficiently restrictive," Powell said.

Persons: —, Jerome Powell, Powell, We've, we're, Julia Pollak, Brendan Boyle, Boyle, he's Organizations: Service, Federal, Market Committee, Business, Fed, Democratic, Rep

☆ Shari Redstone is playing M&A war games with removal of Paramount CEO Bob Bakish
▼ + stars: | 2024-04-29 | by ( Alex Sherman | ) www.cnbc.com time to read: +5 min

The decision to remove Bakish as CEO comes as Paramount Global closes in on a merger agreement with Skydance Media. A number of large common shareholders, including Gamco Investors, Ariel Investments, Matrix and Aspen Sky Trust have publicly criticized the deal, arguing it destroys value for common shareholders. Paramount Global shares jumped about 5% in premarket trading Monday. Typically, Paramount Global shareholders, such as Gabelli, would compare an offer to the standalone company's prospects — hence his comments about not seeing a sale at all. But by removing Bakish, Redstone and the Paramount Global board are now throwing the status quo into chaos.

Persons: Bob Bakish, CNBC's David Faber, Shari Redstone, David A, Skydance, Mario Gabelli, That's, —, Bakish Organizations: Paramount, CNBC, Paramount Global, Skydance Media, Gamco Investors, Ariel Investments, Aspen Sky Trust, National Amusements, Allen & Company Sun Valley, Grogan, Amusements, New York Post, Bloomberg, Street Journal, Skydance, Apollo Global, Sony, New York Times, Apollo, Foreign Investment, U.S, Communications, Charter Locations: Sun Valley , Idaho, U.S, United States

☆ 'Nobody's getting wealthy on Social Security,' lawmaker says. The November election may influence the program's future
▼ + stars: | 2024-04-27 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Protect Social Security!" In 1983, when the last major Social Security reforms were enacted, there were no benefit enhancements, Larson argued. Today, annual earnings of up to $168,600 are subject to a 6.2% payroll tax toward Social Security paid by both workers and employers. Larson's plan also calls for closing loopholes that allow wealthy taxpayers to avoid paying Social Security taxes on other income. Larson said the public is well aware that Social Security benefits are theirs and they've paid for them.

Persons: Kean, Dave Kotinsky, Larson, they've, John Larson, Conn, Mark Wilson, Nancy Altman, Drew Ferguson, Ferguson, Jodey Arrington, Charles Blahous, Blahous Organizations: Getty, hasn't, Social Security, Security, Social, Capitol, Democratic, Republican, Republican House, Republicans, George Mason University Locations: Bridgewater , New Jersey, Jan, Georgia, Texas

☆ Committee's standout stocks this week: Vertiv, NXP, Palantir and Matterport
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCommittee's standout stocks this week: Vertiv, NXP, Palantir and MatterportThe Investment Committee discuss some of their standout stocks this week.

Organizations: Investment

☆ Newly minted RNC chair Lara Trump says they've got lawsuits cooking in 81 states. There are 50 states.
▼ + stars: | 2024-04-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Advertisement"We have lawsuits in 81 states right now," Trump told Bolling. "Maybe there are 81 states in the future and she's a time traveler," an X user named Mike Freeman said in a post. AdvertisementLate-night host Jimmy Kimmel couldn't resist mocking Lara Trump either when he referenced the moment in his monologue on Wednesday night. "In 81 states! Last week, she fired back when a viewer questioned her intellect on her podcast, "The Right View with Lara Trump."

Persons: —, Lara Trump, — who's, Donald Trump's, Eric —, we're, Eric Bolling, Jocelyn Benson, Trump, Bolling, 3vZ8mRYvgE —, Mike Freeman, Jimmy Kimmel, they're, Kimmel, Donald Trump, Michael Whatley, Lara, MAGA, hasn't, Lara Trump's Organizations: Service, Republican National, RNC, Business, South Virginia ., North, North Carolina GOP Locations: Tennessee, . West Dakota, South Virginia, South Virginia . Indiana, North Carolina

☆ The Investment Committee's Pullback Playbook: Nvidia, Applied Materials, Apple, Uber, XLF and XLV
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Investment Committee's Pullback Playbook: Nvidia, Applied Materials, Apple, Uber, XLF and XLVThe Investment Committee share their pullback playbook for today's down market.

Organizations: Nvidia, Applied, Apple

☆ Would the Fed really hike rates here? This is what would have to happen
▼ + stars: | 2024-04-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Though it was unthinkable just a short time ago, the question of what it would take the Federal Reserve to raise interest rates further is gaining increasing attention. New York Fed President John Williams faced questioning Thursday about hiking and said he doesn't expect that to happen, but noted that it's always an option. "Basically, if the data were telling us that we would need higher interest rates to achieve our goal, then we would obviously want to do that." Making the same mistake as the 1970s central bank — hiking rates to fight inflation, then cutting prematurely and allowing inflation to return — is a sensitive issue for the Powell Fed. Chances are low, for now So far, only Fed Governor Michelle Bowman has given any credence to the notion of raising rates.

Persons: John Williams, it's, Williams, Jerome Powell, Philip Jefferson, Powell, Nicholas Colas, Colas, Michelle Bowman, Bowman, Esther George Organizations: Federal Reserve, Fed, New York Fed, Summit, DataTrek, CME, Kansas City, CNBC Locations: Washington, Kansas

☆ Kevin McCarthy is haunting Mike Johnson
▼ + stars: | 2024-04-20 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

House Speaker Mike Johnson can blame his problems on his predecessor, former Speaker Kevin McCarthy. Anyone may have struggled to wrangle this slim Republican majority. He offered three seats on the powerful House Rules Committee to more conservative members. The Rules Committee keeps the House moving, but Johnson has been forced to maneuver around it in the face of likely opposition to major bills. AdvertisementFormer House Speaker Newt Gingrich summed up Johnson's reality rather grimly.

Persons: Mike Johnson, Kevin McCarthy, McCarthy, Johnson, Matt Gaetz, McCarthy's, Marjorie Taylor Greene, Tom Cole, Cole, We've, George Santos, Santos, Newt Gingrich, it's, he's, Gingrich Organizations: Republican, California Republican, Caucus, Florida Republican, Georgia Republican, Speaker's, Democrats, Pentagon, Oklahoma Republican, Politico, GOP, CNN, Republicans, Rep Locations: California, Florida, Georgia, Oklahoma

☆ The Committee's commodities picks
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Committee's commodities picksThe Investment Committee talks about their favorite names in commodities.

☆ Trump’s campaign said it raised $50.5 million at a high-dollar Florida fundraiser
▼ + stars: | 2024-04-07 | by ( ) www.cnbc.com time to read: +6 min

Donald Trump's campaign said it raised $50.5 million on Saturday, a staggering reported haul as his campaign works to catch up to the fundraising juggernaut of President Joe Biden and the Democratic Party. Trump and the GOP announced earlier in the week that they raised more than $65.6 million in March and closed out the month with $93.1 million. Biden and the Democrats announced Saturday that they took in more than $90 million last month and had $192 million-plus on hand. Campaign fundraising reports filed with the Federal Election Commission detailing donations from Saturday's event are not expected until a mid-July filing date. But when checks of any amount are written to the combined campaign, the campaign and Save America get paid first by default.

Persons: Donald Trump, John Paulson, Melania Trump, —, that's what's, Trump, Biden, Chris LaCivita, Susie Wiles, Bill Clinton, Barack Obama, Donald Trump's, Joe Biden, Jaime Harrison, Lara Trump, Robert Bigelow, Ron DeSantis, John Catsimatidis, Linda McMahon, Steve Wynn, Georgia Sen, Kelly Loeffler, South Carolina Sen, Tim Scott, Doug Burgum, Vivek Ramaswamy —, Nelson Mandela, South Africa's, Jasmine Harris, Jesus Christ, that's Donald Trump Organizations: America, Trump, Republican, Radio City Music Hall, Democratic Party, GOP, Mar, Democratic, Federal, Commission, Republican National Committee, Save, RNC, Save America, Florida Gov, World Wrestling Entertainment, Small Business Administration, South, Tim Scott , North Dakota Gov Locations: Palm Beach , Florida, Beach , Florida, New York, Florida, Las Vegas, Georgia, South Carolina, Tim Scott , North, York

☆ Don't expect the Mayorkas impeachment trial to last long
▼ + stars: | 2024-04-06 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

Read previewHomeland Security Secretary Alejandro Mayorkas' historic impeachment trial will likely be over before you even notice. Conservative legal scholars and even three House Republicans have questioned Mayorkas' impeachment. Here's how Democrats will likely handle Mayorkas' impeachment. After failing to impeach Mayorkas on the first vote, House Republicans narrowly impeached the Homeland Security secretary on February 13. GOP Reps. Mike Gallagher, Tom McClintock, and Ken Buck GettyWhy are even some Republicans against Mayorkas impeachment?

Persons: —, Alejandro Mayorkas, Chuck Schumer, Marjorie Taylor Greene, Mayorkas, Joe Biden's, Mike Johnson, Mitch McConnell, it's, McConnell, Greene, Andy Wong, Sen, Robert Byrd, Bill Clinton, Clinton, Jon Tester, Tester, Joe Manchin, Mitt Romney, Mike Gallagher, Tom McClintock, Ken Buck Getty, Mike Gallagher of, Ken Buck, Tom McClintock of, impeaching Mayorkas, Jonathan Turley, Turley, framers Organizations: Service, Republican, Business, Republicans, GOP, Democrats, Homeland, AP, Security, West, West Virginia Democrat, Washington Post, Democratic, Montana Democrat, Politico, Democrat, George Washington University Law School Locations: Marjorie Taylor Greene of Georgia, Washington, New York, West Virginia, Montana, Utah, Mike Gallagher of Wisconsin, Ken Buck of Colorado, Tom McClintock of California

☆ Fed's Powell emphasizes need for more evidence that inflation is easing before cutting rates
▼ + stars: | 2024-04-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Bank Chair Jerome Powell speaks during the Stanford Business, Government and Society Forum at Stanford University on April 03, 2024 in Stanford, California. Justin Sullivan | Getty ImagesFederal Reserve Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain. "We do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2 percent," he added. "Recent readings on both job gains and inflation have come in higher than expected," Powell said. The uncertainty about rates has caused some consternation in markets, with stocks falling sharply earlier this week as Treasury yields moved higher.

Persons: Jerome Powell, Justin Sullivan, Powell, Raphael Bostic, Mary Daly, Cleveland's Loretta Mester Organizations: Bank, Stanford Business, Government, Society, Stanford University, Getty, Federal, Market, Atlanta Fed, CNBC, San Francisco Fed, Group Locations: Stanford , California

Average 30-year mortgage rates ticked up above 6.50% for the first time in more than a week, according to Zillow data. Once the Fed starts cutting rates, mortgage rates should ease. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.11% last week, according to Freddie Mac data.

Persons: Federal Reserve Bank of Cleveland Loretta Mester, Mester, you'll, Freddie Mac, it's Organizations: Federal Reserve Bank of Cleveland, Investors, Zillow, Federal Reserve Locations: Chevron

Search resuls for: "Committee's"

25 mentions found