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By Daniel AVIS WASHINGTON, Oct 19, 2023 (AFP) – US inflation is “still too high” despite a recent slowdown, Federal Reserve Chair Jerome Powell said Thursday, leaving the door open for a new interest rate hike. Additional evidence of “persistently above-trend growth” or fresh signs of tightness in the labor market “could warrant further tightening of monetary policy,” he told a conference in New York. The Fed recently slowed its aggressive campaign of monetary tightening […]
Tokyo, Sydney, Seoul, Singapore, Jakarta and Wellington all rose, but Hong Kong, Shanghai and Manila sank HONG KONG, China (AFP) — Asian markets were mixed Tuesday with confidence at a premium as traders contemplate the prospect of more Federal Reserve interest rate hikes and a possible recession. Wall Street suffered another day in the red after Friday’s capitulation in response to a warning from US central bank boss Jerome Powell that more tightening was needed […]
Brent oil hits $119.84 a barrel for the first time since early 2012 HONG KONG, China (AFP) — Stocks rose Thursday after Federal Reserve chief Jerome Powell said the bank would hike interest rates gradually to fight inflation, though oil marched towards $120 as the Ukraine conflict continues to roil energy markets. With the Russian invasion of its neighbour hammering all assets across the board as uncertainty reigns supreme, traders were given a much-needed […]
by Frankie TAGGART Agence France Presse WASHINGTON, United States (AFP) — Colin Powell, a US war hero and the first Black secretary of state who saw his trailblazing legacy tarnished when he made the case for war in Iraq in 2003, died Monday from complications from Covid-19. The 84-year-old retired four-star general was fully vaccinated, his family said in a statement, making him one of the most high-profile US public figures to die of […]
WASHINGTON, United States (AFP) — The US economy will only recover from the coronavirus downturn when people feel safe to resume their normal activities, Federal Reserve Chair Jerome Powell said in remarks released Monday ahead of congressional testimony. The central bank chief is set for three days of testimony before House and Senate committees starting Tuesday on the response to the coronavirus downturn, which has caused tens of millions of job losses and a […]
