After Jerome Powell's testimony Tuesday, there's a growing chance the central bank could lift rates by another half-percentage point when it meets later this month.
The impact:
The Fed Funds futures market — where investors can speculate and hedge on swings in the Fed's key rate — abruptly priced in odds of more than 70% that the Fed would deliver a half-point hike when it makes its next monetary policy announcement on March 22. Expectations of higher rates dragged the S&P 500 down roughly 1.5%, the third worst day of the year so far.If the Fed has a lot more hiking to do, there's good reason to think we remain in a bear market, despite the
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jerome Powell Speech Preview: Fed Chair testifies in US CongressJerome Powell, Chairman of the Federal Reserve System, will testify on March 7 in the US Congress, in front of the Senate Committe on Banking, Housing
Read more »
Senate will grill Jerome Powell over Fed efforts to tame inflationFederal Reserve Chair Jerome Powell’s first appearance before Congress in nine months coincides with recent signs that the economy remains resilient and inflation still stubbornly high.
Read more »
WATCH LIVE: Fed Chairman Jerome Powell addresses Senate amid inflation and recession concernsThe Senate Committee on Banking, Housing, and Urban Affairs is set to receive the Semiannual Monetary Policy Report to Congress from Federal Reserve Chairman Jerome Powell.
Read more »
Fed chair Jerome Powell opens the door to faster interest rate hikesJUST IN: The Fed will likely raise interest rates to a higher peak than previously thought and may consider ratcheting back up the pace of hikes in an effort to cool down a resilient economy, chair Jerome Powell will tell Congress today.
Read more »
Fed’s Jerome Powell says interest rates likely need to raise more than expectedThe remarks were his first since inflation unexpectedly jumped in January and the government reported an unusually large increase in payroll jobs for that month.
Read more »
FX Market Rundown: RBA, GBP and Fed Chair Jerome PowellFX Market Rundown: RBA, GBP and Fed Chair Jerome Powell.The Tuesday Market Oulook with Warren Venketas gives a report on the latest changes in the financial m...
Read more »