U.S. Federal Reserve Chair Jerome Powell said on Wednesday the central bank's staff no longer forecasts a U.S. recession for 2023.
U.S. Federal Reserve
The dollar slipped on Tuesday after a sharp rise overnight as strong U.S. economic data reinforced expectations that the Federal Reserve will hike interest rates in May, while China’s economic recovery gathered pace in the first quarter. The dollar index, which measures the currency against six major rivals, eased 0.078% to 102.01, after rising 0.5% […]
Asian stocks struggled on Thursday, dragged down by tech and property selling in Hong Kong, while the dollar was under pressure as softening U.S. inflation seemed to suggest the Federal Reserve’s rate hike cycle was nearing its end. Early in the Asia day the euro hit a 2-1/2 month top at $1.10. Investors are positive […]
European stock indexes hit new highs on Wednesday as markets anticipated crucial U.S. inflation data which could give signals on how soon the Federal Reserve will end its aggressive rate hikes. After Friday’s jobs report showed a resilient U.S. labour market, emboldening bets of a 25 basis point hike at the Fed’s next meeting in […]
The Federal Deposit Insurance Corp is expected to propose next month how to make the U.S. banking sector pay for an estimated $23 billion hole in its insurance fund by the collapse of Silicon Valley Bank and Signature Bank in March. The agency has broad authority in setting the terms of what is known as […]
Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Bitcoin peaked at $30,438 in Asian trade and was last up 1.96% at $30,233. It has […]
Ukrainian hackers claim to have broken into the emails of a senior Russian military spy wanted by the Federal Bureau of Investigation for hacking the Hillary Clinton campaign and other senior U.S. Democrats ahead of Donald Trump’s election to the presidency in 2016. In a message posted to Telegram on Monday, a group calling itself […]
Banking sector turmoil has not dented demand for equities, with MSCI’s world stock index up 7% so far this year. Hopes that the Federal Reserve and others could soon pause the most aggressive interest rate hiking cycle in decades has supported stocks even as sentiment more generally has been rattled by the failures of two […]
The dollar crept higher on Thursday but stood near a two-month low as traders weighed how pivotal U.S. jobs data coming out on a stock trading holiday would impact Federal Reserve policy, after a raft of data this week pointed to a cooling economy. The closely watched U.S. non-farm payrolls report on Friday, when many […]
Wall Street closed lower on Tuesday after evidence of a cooling economy exacerbated worries that the Federal Reserve’s campaign to rein in decades-high inflation may cause a deep downturn. All three major indexes fell as data showed U.S. job openings in February dropped to the lowest level in nearly two years, suggesting that the labor […]