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Tag: Fed

Gold hits record high as Fed Chair Jerome Powell stays the course

The gold rush has begun. Bullion prices soared to record highs on Thursday as investors continued to pour money into precious metals after Fed Chairman Jerome Powell suggested the Fed would start cutting interest rates “at some point this year.” did. Gold traded as high as $2,310 an ounce early Thursday morning, continuing an upward […]

Dow drops 500 points after Fed officials spook investors

Stocks fell in Thursday afternoon trading as investors weighed the latest statements from Federal Reserve officials and the outlook for possible interest rate cuts this year. The Dow Jones Industrial Average fell more than 500 points, or 1.3%, to $38,618, the S&P 500 fell 1.1% and the Nasdaq fell 1.2%. In the comments, Minneapolis Fed […]

NYC man fed up with porch pirates lures thief with fake parcels

Security camera footage shows the moment a suspected porch pirate walked into a Queens homeowner’s trap after intentionally trying to steal a fake package left on his stoop. Carlos Mejia said he was “done” with robbers ransacking his belongings, and last week he left a “decoy package” outside his front door in hopes of catching […]

Fed officials consider leaving rates higher for longer

Federal Reserve officials plan to keep interest rates high for an extended period of time after inflation and labor market data came in better than expected in January and February on the back of a strong U.S. economy. It suggests possibility. “It’s too early to tell whether the recent numbers represent anything more than just […]

Powell says Fed needs more inflation evidence before cutting interest rates

Fed chair gives keynote address at Stanford University forum. federal reserve Chairman Jerome Powell He stressed on Wednesday that policymakers needed more evidence that inflation was calming before moving to cut rates. “When it comes to inflation, it’s too early to tell whether the recent numbers indicate anything more than just an increase,” Powell said […]

Fed official rules out May rate cut

Cleveland Fed President Loretta Mester said Tuesday that she is unlikely to support a rate cut at the Fed’s May meeting. Mester, who is currently a voting member of the central bank’s rate-setting committee, said there is enough data by the Fed’s next meeting to determine that inflation is firmly on the way down toward […]

Dollar ascendant as Fed cut bets pared, jawboning props up yen – Investing.com

Written by Kevin Buckland TOKYO (Reuters) – The U.S. dollar hovered near a 4-1/2-month high against major peers on Tuesday, as traders scrambled to push back on bets on the Federal Reserve’s first rate cut this year. It has changed. The dollar held near six-week highs hit on Monday against the euro and pound after […]