Tagged: jerome powell

February 11, 2025 @ 3:53 pm By JD Alois  |  

The Chairman of the US Federal Reserve, Jerome Powell, was testifying before the Senate Banking Committee today. While typically targeting the Fed’s dual mandate of pursuing full employment and low inflation, the hearing provides an opportunity for the Members to query the Chair on other… Read More

January 29, 2025 @ 3:36 pm By JD Alois  |  

There was little new today emerging from the US Federal Reserve announcement as it decided to hold rates steady, matching market expectations. The Fed decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent. The FOMC [Federal Open Market Committee]… Read More

January 10, 2025 @ 6:22 am By Tony Zerucha  |  

Nigel Green sees, at most, one rate cut in 2025. The deVere Group CEO said that is based on a mounting realization that inflation remains dangerously sticky, and the interest rate needed to bring it fully under control needs to remain higher than many previously… Read More

December 23, 2024 @ 10:46 am By Tony Zerucha  |  

From Donald Trump’s strategic Bitcoin reserve to the potential for a Santa rally, fintech CEOs had plenty to say about the world’s most popular cryptocurrency this week. Tim Kravchunovsky, founder and CEO of the decentralized telecommunications network Chirp, said it is great to see Donald… Read More

November 10, 2024 @ 9:44 pm By Tony Zerucha  |  

Donald Trump’s return to the White House raises concerns that he might seek significant influence over the central bank’s policy decisions, warns deVere Group CEO Nigel Green. Green spoke ahead of Federal Reserve Chair Jerome Powell’s end-of-meeting speech on Nov. 7. “There are fears that… Read More

September 18, 2024 @ 3:20 pm By JD Alois  |  

The US Federal Reserve, Federal Open Market Committee (FOMC), has decided to cut benchmark rates by 50 basis points – the first cut in four years. The Fed said it is not on any pre-set course but felt its restrictive policies had the desired impact… Read More

July 31, 2024 @ 2:43 pm By JD Alois  |  

The US Federal Reserve has held rates steady, holding off on rate cuts that many anticipate this coming fall. While Fed Chairman Jerome Powell said they had made much progress on their goal of inflation of 2% and full employment, the Federal Open Market Committee… Read More

May 1, 2024 @ 3:46 pm By JD Alois  |  

The US Federal Reserve’s Federal Open Market Committee (FOMC) decided to hold rates steady today. While no one was expecting a move in either direction, markets were keenly watching the FOMC statement to determine the Fed’s thinking regarding future rate adjustments. The target range for the… Read More

March 20, 2024 @ 3:01 pm By JD Alois  |  

As anticipated, the US Federal Reserve has held benchmark rates steady while expecting three rate cuts later in 2024. The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent while reiterating its commitment to… Read More

March 8, 2024 @ 4:47 pm By JD Alois  |  

Yesterday, testifying in front of the Senate Banking Committee, Jerome Powell, Chair of the US Federal Reserve, was asked several questions about a digital dollar or Central Bank Digital Currency (CBDC). Powell first pointed to the fact that most transactions are digital today as consumers… Read More

January 31, 2024 @ 2:47 pm By JD Alois  |  

The US Federal Reserve announced that it has decided to hold benchmark rates steady at a rate of 5.25% to 5.5% today, as the Wall anticipated. The statement issued by the Federal Open Market Committee (FOMC) indicated that job gains have moderated since early last… Read More

July 26, 2023 @ 9:21 pm By JD Alois  |  

As was expected, the US Federal Reserve increased benchmark rates by 25 basis points today. Markets had long anticipated the move, which pushed rates to the highest they have been in over 22 years. In the Federal Open Market Committee statement, the bank said that… Read More

July 20, 2023 @ 11:27 am By JD Alois  |  

FedNow, an instantaneous payments and transfer service brought to you by the US Federal Reserve, is now live. FedNow is available 24/7/365 for approved institutions. According to a statement by the Fed, 35 banks and credit unions, along with the U.S. Department of the Treasury’s… Read More

June 14, 2023 @ 3:11 pm By JD Alois  |  

The US Federal Reserve has decided to pause rate hikes as it aims to assess the impact of the past rate hikes that have been some of the fastest in history. The Federal Funds Rate will remain at 5 to 5-1/4%. The Federal Open Market… Read More

March 22, 2023 @ 4:19 pm By JD Alois  |  

As widely predicted by market followers, the US Federal Reserve increased benchmark rates by 25 basis points. Not too long ago, prognosticators were vacillating on whether the March meeting would increase rates by 50 bps or 25 bps. The recent bank crises caused the financial… Read More

March 13, 2023 @ 4:10 pm By JD Alois  |  

The Federal Reserve Board has announced that Vice Chair for Supervision Michael S. Barr will be leading a review of the supervision and regulation of Silicon Valley Bank, in light of its failure. The Fed said the review would be publicly released by May 1,… Read More

March 12, 2023 @ 6:47 pm By JD Alois  |  

The US Department of Treasury, FDIC and Federal Reserve have joined to protect all account holders at the Silicon Valley Bank (NASDAQ:SIVB), which was taken over by the federal government on Friday. The exceptional action means that accounts holding over $250,000 will have access to… Read More

March 8, 2023 @ 9:57 am By JD Alois  |  

Today, a House Financial Services Committee hearing will see Fed Chair Jerome Powell testifying on monetary policy and the state of the economy. The hearing will be live-streamed on the Committee website starting at 10 AM ET today (March 8, 2023). The hearing is entitled… Read More

December 14, 2022 @ 4:46 pm By JD Alois  |  

As expected, the US Federal Reserve raised benchmark interest rates by 50 basis points bringing the target range for the federal funds rate to 4-1/4 to 4-1/2 percent. The vote for 50 bps was unanimous. This is the 7th interest rate increase in the past… Read More

December 9, 2022 @ 12:17 pm By JD Alois  |  

The aftershocks of FTX’s bankruptcy will be felt for many months. The collapse of the crypto exchange and the potential loss of billions in value has fueled demands for regulatory oversight on Capitol Hill with renewed vigor. Earlier this week, Senator Elizabeth Warren and Senator… Read More