City Powell, county Jerome Financial News

By Ankika Biswas and Shashwat Chauhan

After the first weekly loss in four, oil bulls will be raring to push crude oil towards the higher $90s, while top buyer China again faces its recurring bogeyman — an ailing property sector — that’s weighing on its stock market.

By Amanda Cooper

Jerome Powell appears cautious as he acknowledges that such an outcome is merely a possibility which will depend on numerous factors beyond the control of the US Fed. Powell indicated that a "soft landing" for the economy is not the most likely or expected outcome, but it is still considered a possibility.

Bitcoin (BTC) starts the last week of September with a retest of $26,000 as a stubborn range persists.

crypto market displayed a sideways trend, influenced by various industry developments and macroeconomic factors. Bitcoin started trading at the $26,000 mark and briefly surged above $27,000. However, it faced resistance around the $27,500 level, leading to a subsequent downward movement. Presently, BTC is trading at approximately $26,600. If BTC continues its decline, it may retest the support zone at $25,400. Despite experiencing a 60% decline from its all-time high, BTC has posted a 2.34% gain month-to-date and a remarkable 60% increase year-to-date. Additionally, this week the U.S. Federal Reserve convened for a meeting to discuss interest rate hikes. Fed Chair Jerome Powell indicated that the central bank would consider additional rate hikes if the economy continues to outperform expectations. The benchmark interest rate presently remains in the range of 5.25% to 5.50%. Concurrently, market participants are reacting to the U.S. benchmark 10-year note yields reaching 4.490%, the highest level since November 2007. These events have induced a bit of bearish sentiments in the markets. Similarly, Ethereum (ETH) has mirrored BTC's movements. ETH encountered bearish momentum below the $1,600 level. A breakthrough above the $1,620 resistance could propel its price toward $1,650, while a failure to clear immediate support may lead to a decline towards the $1,565 level. In an interesting turn of events, Germany's largest lender, Deutsche Bank, announced a collaboration with Swiss startup Taurus to establish digital asset custody and tokenization services, highlighting the growing involvement of traditional financial institutions in the crypto space.

Meanwhile, benchmark 10-year US Treasury yields touched a 16-year peak the day after Fed Chairman Jerome Powell warned inflation still has a long way to go before approaching the central bank's 2% target. At 11 a.m., Bitcoin (BTC) was trading 1.62% lower at $26,620, while Ethereum (ETH) was trading below the 1,600 level. Meanwhile, the global cryptocurrency market cap was trading lower, around $1.06 trillion, falling 1.50% in the last 24 hours.

Federal Reserve and Bank of England left interest rates unchanged this week, while both left the door open to additional increases should inflation prove persistent. Policymakers in the US made their decision unanimously, while those in the UK were split. Meantime, Bank of Japan Governor Kazuo Ueda tamped down speculation of a near-term interest rate hike after the central bank chose to stick with its ultra-easy stimulus. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:US Fed Chair Jerome Powell made clear Wednesday the central bank is close to done raising interest rates, but his colleagues delivered the message that resonated: Borrowing costs must remain higher for longer amid renewed strength in the economy.

AI promise has masked a big threat in this era of Federal Reserve hawkishness: Real-world borrowing costs have jumped across Corporate America. Now Wall Street is fretting over the monetary danger in a week that Jerome Powell signaled his resolve once again to keep the policy stance tight — sparking a rout across Big Tech and beyond. His tool of choice to cool the still-hot US economy: Ensuring interest rates adjusted for inflation — seen as true cost of money for borrowers — stay elevated. Real yields, which touched decade-highs this week, need to stay meaningfully positive “for some time,” the Fed chief said at the policy gathering. It’s a chilling message for the top-heavy US equity market.

Former Federal Reserve Governor Kevin Warsh provides insight on economic policies on 'Kudlow.'

MonetaryMacro.com CIO Joseph Wang argues while headline inflation has cooled, core inflation remains stuck above the Fed's target on 'Making Money.'

Americans have been crunched by inflation and interest rates.

The Federal Reserve did not hike interest rates in its meeting on Sep. 20 but hinted that rates could remain higher for longer. At the post-meeting press conference, Fed Chair Jerome Powell cautioned that “the process of getting inflation sustainably down to 2% has a long way to go.”

Bitcoin (BTC), the world's largest cryptocurrency, experienced a dip on Friday as it failed to maintain its upward momentum and dropped below $27,000. 

As Bitcoin's volatile movement continues, recent market activities have seen the pioneering cryptocurrency tumble below the crucial $27,000 support level. 

Investing.com — The Dow slumped Thursday, pressured by rising Treasury yields as investors continued to digest the prospect of a higher-for-longer Federal Reserve interest rate regime following data showing the labor market remains tight.

The United States Federal Reserve Open Market Committee’s September decision on interest rates was entirely expected, with the FOMC holding rates at the current level of 5.25% to 5.5%. As also expected, the committee indicated there may be another rate hike coming this year, with Chairman Jerome Powell insisting — as usual — in his Sept. 20 press conference that the job of getting inflation back to the Fed’s 2% target is in “no way done.”

(Reuters) — Federal Reserve Chair Jerome Powell will host a town hall with educators on Sept. 28 that will also be webcast live, and he will take questions from the audience, the central bank said on Thursday.

Treasury yields rose to 16-year highs on Thursday, a day after the Federal Reserve surprised investors by flagging the potential for an additional rate hike, and an expectation for fewer cuts next year. The U.S. central bank held interest rates steady, as was widely expected, and said that its benchmark overnight interest rate may still be lifted one more time this year to a peak 5.50%-5.75% range. It also now expects half a percentage point of rate cuts in 2024.

The Federal Reserve held its benchmark interest rate unchanged in a widely expected decision on Wednesday and struck a hawkish tone as the central bank’s ongoing battle against inflation appears to be far from over.

United Auto Workers (UAW) union forces automobile manufacturers to temporarily lay off workers because of shortages of some materials. Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 201,000 for the week ended Sept. 16, the Labor Department said on Thursday.