Seoul, Jan 29 (IANS) Uncertainty over the path of the United States’ monetary policy is expected to persist, though markets have remained broadly stable following the Federal Reserve’s latest interest rate decision, a senior official of the South Korean central bank said on Thursday.On Wednesday (US time), the Fed kept its benchmark interest rate unchanged at the 3.5-3.75 percent range following three successive cuts since September, a decision that will continue to put the gap between the key r…
Latest Jerome Powell News & Updates
Washington, Jan 29 (IANS) Federal Reserve Chair Jerome Powell said that higher US inflation is being driven mainly by tariffs on goods, not excess demand — an assessment that could shape expectations for global trade-linked economies. “These elevated readings largely reflect inflation in the goods sector, which has been boosted by the effects of tariffs,” Powell said on Wednesday (local time), while stressing that price pressures in services continue to ease.The Federal Open Market Committe…
Washington, Jan 29 (IANS) US Federal Reserve Chair Jerome Powell declined to comment on his future at the central bank during a wide-ranging press conference. Asked whether he has decided to remain as a Fed governor, Powell said: “No.” He added: “I really, once again, have nothing for you on that today.”Pressed on when a decision might come, Powell repeated that he had nothing to add.When asked why he might consider leaving, Powell declined again. “There’s a time and place for these …
Washington, Jan 29 (IANS) US Federal Reserve Chair Jerome Powell said that job growth has slowed in part because of a sharp decline in labour supply driven by lower immigration. Powell on Wednesday (local time) said labour market conditions “may be stabilising after a period of gradual softening.” He said the unemployment rate was 4.4 per cent in December and has “changed little in recent months.”But job growth has been weak. “Total nonfarm payrolls declined at an average pace of 22,00…
Washington, Jan 29 (IANS) The Federal Reserve held interest rates steady. Chair Jerome Powell said inflation is still “somewhat elevated,” with tariffs pushing up goods prices.The Federal Open Market Committee “decided to leave our policy rate unchanged,” Powell told reporters on Wednesday (local time). The Fed kept the target range for the federal funds rate at 3.5 per cent to 3.75 per cent.Powell said the economy “expanded at a solid pace last year” and is starting 2026 “on a fir…
Los Angeles, Jan 17 (IANS) Federal prosecutors are investigating Minnesota Governor Tim Walz and Minneapolis Mayor Jacob Frey for allegedly impeding federal law enforcement operations in the state. The two officials’ rhetoric against the United States Immigration and Customs Enforcement (ICE) was approaching a potential federal offense, US Deputy Attorney General Todd Blanche was quoted as saying.”When the governor or the mayor threatens our officers, when the mayor suggests that he’s encouragin…
Washington, Jan 14 (IANS) US President Donald Trump has sharply criticised Federal Reserve Chair Jerome Powell as “a lousy Fed chairman” and defended the actions of an Immigration and Customs Enforcement (ICE) agent involved in a fatal incident in Minnesota, while rejecting claims of political retaliation.In an interview with CBS News conducted at a Ford assembly plant on Tuesday, Trump dismissed accusations that a criminal probe involving Powell amounted to retribution for policy disagreeme…
Mumbai, Jan 13 (IANS) Gold and silver prices eased on Tuesday amid profit booking, after they surged to record high levels over worries of the US Justice Department’s action against the Federal Reserve Chair.MCX gold February futures eased 0.44 per cent to Rs 1,41,400 per 10 grams around 1.15 pm, while MCX silver March futures traded flat with a negative bias down 0.01 per cent at Rs 2,68,926 per kg.The price of 10 grams of 24-carat gold was at Rs 1,40,482 down from Rs 1,40,499 of previous day’s…
Mumbai, Jan 13 (IANS) Following a sharp recovery from lower levels, Indian benchmark indices traded flat with a negative bias on Tuesday amid rising geopolitical tensions and sustained foreign institutional outflows.As of 9.29 am, Sensex slipped 85 points, or 0.10 per cent to 83,792 and Nifty eased 22 points, or 0.08 per cent to 25,768.Main broad-cap indices showed slight divergence with benchmark indices, with the Nifty Midcap 100 up 0.11 per cent, while the Nifty Smallcap 100 added 0.38 per ce…
Washington, Jan 13 (IANS) The White House defended President Donald Trump’s repeated criticism of Federal Reserve Chairman Jerome Powell, while stressing that the Department of Justice will determine whether any legal issues exist.Press Secretary Caroline Leavitt said the President has been clear in his assessment of Powell’s performance. “One thing for sure, the President’s made it quite clear, is Jerome Powell is bad at his job,” Leavitt said.She said Trump is entitled to express that …