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☆ Fed Chair Powell: Not looking for inflation to go 'all the way down' to 2%
▼ + stars: | 2024-03-06 | 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 Chair Powell: Not looking for inflation to go 'all the way down' to 2%Federal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ Fed Chair Powell: Basel III Endgame proposal comments 'unlike anything I've ever seen'
▼ + stars: | 2024-03-06 | 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 Chair Powell: Basel III Endgame proposal comments 'unlike anything I've ever seen'Federal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services Locations: Basel

☆ Fed Chair Powell: We need to 'keep our eye on the ball' on commercial real estate
▼ + stars: | 2024-03-06 | 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 Chair Powell: We need to 'keep our eye on the ball' on commercial real estateFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ Fed Chair Powell: We've been in contact with banks that have high CRE exposure
▼ + stars: | 2024-03-06 | 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 Chair Powell: We've been in contact with banks that have high CRE exposureFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, We've, Jerome Powell Organizations: Financial Services

☆ Bitcoin is set to make another run at the record and could rally to $98,000, according to chart analyst
▼ + stars: | 2024-03-06 | by ( Todd Gordon | ) www.cnbc.com time to read: +5 min

Bitcoin charged to new highs on Tuesday, but then retreated about 14%, sending a scare into the market. I've been following the bitcoin story for 10 years now, opened my first Coinbase account back in 2014 and bought bitcoin at $330. Are tech stocks — like semiconductors — acting as a leading indicator for bitcoin, signaling a sustained move through the highs? Higher rates and a higher dollar put downward pressure on U.S. tech stocks and bitcoin due to their positive correlation demonstrated above. As a result, tech stocks and Bitcoin are rallying.

Persons: Bitcoin, I've, Jerome Powell, Powell, bitcoin, It's, Gordon, GBTC Organizations: Nvidia, VanEck Semiconductor, BTC, Nasdaq, U.S ., Financial Services, Treasury, U.S, Elliott Locations: bitcoin

☆ Fed Chair Powell: Fact to say immigration and labor participation contributed to economic strength
▼ + stars: | 2024-03-06 | 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 Chair Powell: Fact to say immigration and labor participation contributed to economic strengthFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ Fed Chair Powell: The pandemic is still writing the story of our economy right now
▼ + stars: | 2024-03-06 | 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 Chair Powell: The pandemic is still writing the story of our economy right nowFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ Fed Chair Powell: Very focused on AI's impact on finance
▼ + stars: | 2024-03-06 | 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 Chair Powell: Very focused on AI's impact on financeFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ Oil prices rise ahead of Fed chair testimony, U.S. inventory data
▼ + stars: | 2024-03-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Oil rig pumpjacks, also known as thirsty birds, extract crude from the Wilmington Field oil deposits area near Long Beach, California July 30, 2013. Crude oil futures rose Wednesday ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress and the release of U.S. inventory data. The West Texas Intermediate contract for April gained 86 cents, or 1.10%, to $79.01 a barrel. May Brent futures added 66 cents, or 0.80%, to $82.70 a barrel. Traders will be closely watching Powell's testimony before the House Financial Services Committee for more detail on the possible timing of interest rate cuts that the market is expecting this year.

Persons: Jerome Powell's, Brent Organizations: Federal, West Texas Intermediate, Financial Locations: Wilmington, Long Beach , California

☆ The Fed insists it will cut rates this year
▼ + stars: | 2024-03-06 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Jerome Powell reiterated on Wednesday that the Federal Reserve will cut interest rates this year. While the Fed says it wants inflation to cool further, it doesn't need for the measure to hit its 2% target in order to cut rates. AdvertisementFed Chair Jerome Powell on Wednesday silenced the growing chorus of forecasters questioning the prospect of rate cuts this year. AdvertisementPowell did clarify that inflation doesn't have to fall all the way to 2% before the central bank decides to cut rates. Experts like Torsten Slok have forecasted no rate cuts may arrive at all in 2024.

Persons: Jerome Powell, —, Powell, Torsten Slok Organizations: Federal Reserve, Service, House Financial Services Committee, CPI

☆ Fed Chair Powell sees a 'good path' toward an economic soft landing
▼ + stars: | 2024-03-06 | 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 Chair Powell sees a 'good path' toward an economic soft landingFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ Watch Fed Chair Jerome Powell testify live on Capitol Hill before House panel
▼ + stars: | 2024-03-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Federal Reserve Chairman Jerome Powell appears Wednesday before the House Financial Services Committee as part of his congressionally mandated semiannual testimony on Capitol Hill. "We believe that our policy rate is likely at its peak for this tightening cycle. If the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year," Powell said. Powell is likely to face a variety of questions during his two-day visit to Capitol Hill, which concludes Thursday before the Senate Banking Committee. Read more:Fed Chair Powell testifying to House on Wednesday.

Persons: Jerome Powell, Powell, Read, Fed's Waller Organizations: Federal, Financial, Capitol, Fed, CNBC, YouTube

☆ Rep. Patrick McHenry: Fed Chair Powell needs to make clear he won't be 'political data-dependent'
▼ + stars: | 2024-03-06 | 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 EmailRep. Patrick McHenry: Fed Chair Powell needs to make clear he won't be 'political data-dependent'House Financial Services Committee chairman Rep. Patrick McHenry (R-N.C.) joins 'Squawk Box' to preview Fed Chair Powell's testimony on Congress today, what he hopes to hear from the Fed Chair, and more.

Persons: Patrick McHenry, Powell Organizations: Financial Services

☆ 10-year Treasury yield inches higher as investors look to Powell testimony
▼ + stars: | 2024-03-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over two basis points to 4.1623%. The 2-year Treasury was last less than one basis point higher to 4.5599%. U.S. Treasury yields on Wednesday were slightly higher as investors awaited testimony about monetary policy from Federal Reserve Chairman Jerome Powell and looked to fresh economic data. Investors on Wednesday will be following testimony from Fed Chairman Powell, who is set to speak before the House Financial Services Committee. Markets were last pricing in rate cuts to begin in June, according to CME Group's FedWatch tool.

Persons: Jerome Powell, Powell, payrolls Organizations: Treasury, U.S, Federal, Financial Services, Fed

☆ Why private equity has been involved in every recent bank deal
▼ + stars: | 2024-03-06 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Greg Nash | ReutersThe $1 billion-plus injection that New York Community Bank announced Wednesday is the latest example of private equity players coming to the need of a wounded American lender. Led by $450 million from ex-Treasury Secretary Steven Mnuchin's Liberty Strategic Capital, a group of private investors are plowing fresh funds into NYCB. That happened to Silicon Valley Bank, whose failure to raise funding last year was effectively its death knell. On Wednesday, headlines around noon that NYCB was seeking capital sent its shares down by 42% before trading was halted. "With private deals, you can talk for a while, and we almost got to the finish line before there was any publicity."

Persons: Jerome Powell, Steven Mnuchin, Greg Nash, Steven Mnuchin's, Warburg Pincus, HomeStreet, Steven Kelly, NYCB Organizations: Financial, Treasury, Reuters, York Community Bank, Strategic Capital, Centerbridge Partners, FirstSun, Wellington Management, Yale Program, Silicon Valley Bank Locations: Rayburn, Washington , U.S, NYCB, PacWest, Banc, California, it's, Silicon

☆ Fed Chair Powell: Rate cuts will depend on path of economy
▼ + stars: | 2024-03-06 | 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 Chair Powell: Rate cuts will depend on path of economyFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ SEC approves disclosure rule for climate-related risks. Here's what's next for companies and investors
▼ + stars: | 2024-03-06 | by ( Bob Pisani | ) www.cnbc.com time to read: +1 min

The U.S. Securities and Exchange Commission on Wednesday voted to adopt new rules that will require most publicly traded companies to disclose climate-related risks in their registration statements and annual reports. The rule proposal was first made in March 2022, but the SEC extended the public comment period several times. He noted the SEC has continuously updated its disclosure requirements over the years, including those related to environmental risks. SEC staff members have noted that nearly 40% of publicly traded companies already disclose information about climate-related risk in their annual reports, but there is no common reporting framework. The final rules would require companies to disclose the following:

Persons: Gary Gensler, Hester Peirce Organizations: . Securities, Exchange, Financial, Capitol, Washington , D.C, U.S . Securities, Exchange Commission, SEC, Republican SEC Locations: Washington ,

☆ Stock futures are flat after major averages claw back some of this week's losses: Live updates
▼ + stars: | 2024-03-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange on Jan. 29, 2024. Futures tied to the Dow Jones Industrial Average dipped about 10 points, while S&P 500 futures and Nasdaq-100 futures were little changed. All major averages finished higher Wednesday following back-to-back losing sessions. Nine of the 11 major S&P sectors finished higher, led to the upside by utilities. Investors monitored the first of Fed Chair Powell's appearances on Capitol Hill this week for more insight on the path ahead for interest rate cuts.

Persons: Jerome Powell's, Powell, Adam Sarhan Organizations: New York Stock Exchange, Stock, Federal, Capitol Hill, Futures, Dow Jones, Nasdaq, Dow Jones Industrial, New York Community Bancorp, Apple, Investors, Fed, Capitol, Financial Services Committee, Investments, Broadcom, Costco Wholesale, Kroger Locations: New, February's

☆ Fed Chair Powell: In process of reviewing comments for Basel III Endgame
▼ + stars: | 2024-03-06 | 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 Chair Powell: In process of reviewing comments for Basel III EndgameFederal Reserve Chair Jerome Powell testifies before the House Financial Services Committee.

Persons: Powell, Jerome Powell Organizations: Financial Services

☆ Fed Chair Powell says there’s no rush to cut interest rates
▼ + stars: | 2024-03-06 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —The Federal Reserve is in no rush to cut interest rates, according to Fed Chair Jerome Powell’s written testimony submitted to congressional lawmakers, released Wednesday. Recent economic data showed that price pressures persisted in January, leading investors to recalibrate their expectations for rate cuts this year. Still, the timing and pace of rate cuts remains up in the air. Too soon to cut rates? In a recent interview with CNBC, Richmond Fed President Thomas Barkin said “we’ll see” if the Fed cuts rates in 2024.

Persons: Jerome Powell’s, Powell’s, inflation’s, ”, José Torres, “ Young, there’s, Raphael Bostic, Thomas Barkin, “, “ I’m, Austan Goolsbee, we’re, Adriana Kugler Organizations: DC CNN, Federal, Fed, Financial, “, Interactive Brokers, CNN, Atlanta Fed, CNBC, Richmond Fed, Congress, Chicago Fed, ”, Stanford University Locations: Washington

☆ Powell reinforces position that the Fed is not ready to start cutting interest rates
▼ + stars: | 2024-03-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Tom Williams | CQ-Roll Call, Inc. | Getty ImagesFederal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when. Rates likely at peakIn total, the speech broke no new ground on monetary policy or the Fed's economic outlook. "We believe that our policy rate is likely at its peak for this tightening cycle. He noted again that lowering rates too quickly risks losing the battle against inflation and likely having to raise rates further, while waiting too long poses danger to economic growth. That's slightly more aggressive than the Fed's outlook in December for three cuts.

Persons: Jerome Powell, Tom Williams, congressionally, Powell Organizations: Financial, CQ, Inc, Getty, Capitol, Federal Locations: Rayburn

☆ Fed Chair Powell testifying to House on Wednesday. What investors are expecting
▼ + stars: | 2024-03-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Jerome Powell, chair of the Federal Reserve, during a House Financial Services Committee hearing in Washington, D.C., on June 21, 2023. The past several months have seen a changing dynamic between financial markets and the Fed over the pace and timing of expected interest rate cuts this year. Markets have had to adjust their collective view from a highly accommodative central bank to one that's more cautious and deliberate. Central to the question of how the Fed acts from here on out is its view on inflation and how Powell expresses that. Powell will have to synthesize the recent trends carefully as he speaks first to the House Financial Services Committee on Wednesday, then the Senate Banking Committee the day after.

Persons: Jerome Powell, Nathan Howard, Powell, Quincy Krosby, He's, it's, Joseph LaVorgna, Steven Ricchiuto, Sharp Organizations: Federal, Financial, Washington , D.C, Bloomberg, Getty, Capitol Hill, Fed, LPL, CME Group, Banking Committee, Nikko Securities, Big Tech, Mizuho Securities, Market Locations: Washington ,

☆ Nasdaq 100 futures rise after Tuesday's sell-off, investors await Powell's testimony: Live updates: Live updates
▼ + stars: | 2024-03-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 29, 2024. Futures linked to the Nasdaq 100 rose on Tuesday night, following a sharp sell-off for all three major averages. S&P 500 futures added 0.05%, and Dow Jones Industrial Average futures inched higher by 19 points, or 0.05%. Investors dumped large-cap tech names, fueling Tuesday's losses and notching the worst day since Jan. 2 for the tech sector. While the market will likely react to Powell's commentary, Hatfield thinks that his remarks should not come as a surprise to investors.

Persons: Nordstrom, Jay Hatfield, It's, Hatfield, it's Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Dow, Investors, Apple, Counterpoint Research, Microsoft, Infrastructure Capital Advisors, Financial Services Committee Locations: New York City, U.S, China

☆ A bigger pool of American workers could continue to slow inflation even further
▼ + stars: | 2024-03-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Now, as the Federal Reserve faces the final stretch of its historic inflation battle, a bigger pool of workers could slow inflation even further. That then begs the question: How much more can better labor supply slow inflation? The US Labor Department releases January figures on job openings, quits, hires and layoffs. The US Labor Department reports the number of new applications for jobless benefits in the week ended March 2. China’s National Bureau of Statistics releases February inflation data.

Persons: Mary Daly, “, ” Sarah House, Michael Gapen, That’s, Jack Bantock, ’, ”, Richard Felton, Thomas, ’ ”, Patrick Harker, Ross, Nordstrom, Michael Barr, Campbell Soup, Foot, Jerome Powell, Loretta Mester Organizations: DC CNN, Federal Reserve, San Francisco Fed, National Association for Business Economics, Labor, CNN, Bank of America, White House’s Council, Economic Advisers, English Premier League, Chelsea, Burnley, Philadelphia Fed, Target, P Global, Institute for Supply Management, US Commerce Department, Abercrombie, Fitch, Financial Services, The Bank of Canada, US Labor Department, Broadcom, Costco, Eagle Outfitters, Potbelly, Banking, Housing, Urban Affairs, European Central Bank, Cleveland Fed, National Bureau of Statistics Locations: Washington, San, Wells, United States, London, JD.com, Kroger, Burlington, DocuSign

☆ The US economy is so strong that there might not be any rate cuts in 2024
▼ + stars: | 2024-03-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Now, some economists think the Fed won’t cut interest rates at all this year. “The Fed will not cut rates this year and rates are going to stay higher for longer,” he added. Richmond Federal Reserve President Tom Barkin echoed the idea that the central bank may not cut interest rates this year. In some ways, the expectations of interest rate cuts by the Fed undermined their efforts to actually cut the rates. Still, about half of investors are expecting an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool.

Persons: —, that’s, Jerome Powell, Torsten Slok, “, Tom Barkin, ” Barkin, “ I’m, ” Robert Frick, ”, Powell Organizations: New, New York CNN, Federal, Apollo Global Management, Richmond Federal, CNBC, Navy Federal Credit Union, CNN, Fed, National Federation of Independent, Investors, Financial Services, Senate Locations: New York, Richmond

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