All articles tagged with #fed chair jerome powell
President Trump initially considered firing Federal Reserve Chair Jerome Powell after asking GOP lawmakers for their opinion, but he later denied plans to do so, amid political pressure and concerns about the impact on market confidence and the Fed's independence.
The S&P 500 edged higher ahead of a week filled with economic data and Fed Chair Jerome Powell's congressional testimony, with the communications services sector being the weakest and utilities being the biggest gainer. Apple's stock fell after being hit with a $2 billion EU antitrust fine, while Nvidia's market value surpassed $2 trillion for the first time. Investors are anticipating key monthly data on the service sector and non-farm payrolls, and the market is being driven by institutional and retail investors' fear of missing out despite concerns about expensive stock valuations. Additionally, AI server maker Super Micro Computer and shoe maker Deckers Outdoor are set to join the S&P 500 index, while Macy's saw a jump in its stock price after an increased buyout bid.
Federal Reserve Chair Jerome Powell was briefly escorted off stage during a speech on monetary policy in Washington, D.C., after climate protesters from a group called Climate Defiance interrupted the event. This is the second time in a month that the group has disrupted an event attended by Powell. The protesters were advocating for an end to fossil fuel extractions on federal lands and waters. Powell did not comment on the protesters when he returned, but in his speech, he emphasized the central bank's commitment to fighting inflation and suggested that further tightening of policy may be necessary.
Asian stocks slipped as risk aversion increased due to concerns over Middle East conflict, while the bond sell-off intensified, pushing Treasury yields to fresh 16-year highs ahead of a speech by Fed Chair Jerome Powell. Investors sought safer assets, keeping gold prices near two-month peaks and the dollar firm. The gloomy mood is expected to continue in Europe, with stock markets in the region set for a lower open. Geopolitical risks, including a widening U.S. chip export ban and concerns over China's property sector, also weighed on investor sentiment.
Fed Chair Jerome Powell stated that the US housing market is "putting in a bottom" and may see some improvement after last year's correction in home prices and sales. Powell did not specify if he meant the housing market activity or home prices had bottomed. Both existing and new home sales have improved since bottoming earlier this year, and US home prices rose in February and March after falling for seven straight months.
Dow Jones futures rose ahead of Fed Chair Jerome Powell's speech in Washington, while Occidental Petroleum moved higher after Warren Buffett's Berkshire Hathaway boosted its stake in the energy giant. Key earnings movers Friday morning include Applied Materials, Deere, Foot Locker, and Ross Stores. The stock market rally continues with several stocks, including Boeing, Salesforce, Visa, Advanced Micro Devices, ASML, Lam Research, and Netflix, among the best stocks to buy and watch. Tesla stock rallied 1.7% Thursday, while Apple and Microsoft shares continue to add to gains above their respective buy points.
Fed Chair Jerome Powell was pranked into a chat with a fake President Zelensky, in which he was asked about the US economy and monetary policy. The prank was orchestrated by a team of comedians and aired on a Russian television show. Powell appeared to take the prank in good humor and answered the questions posed to him.