County Jerome Financial News

WASHINGTON—A Senate panel on Wednesday advanced Jerome Powell’s nomination for a second term leading the Federal Reserve, along with three others for top posts at the central bank.

Jake Chervinsky, head of policy at crypto advocacy group the Blockchain Association, said the United States should be careful to avoid a “totalitarian nightmare” in its potential launch of a central bank digital currency, or CBDC.

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting on Jan. 26.

The US Federal Reserve (Fed) raised interest rates by 25 basis points today, marking the first rate hike in the US since before the COVID-19 pandemic. The increase was in line with what the central bank has long communicated to the market that it would do. (This is a developing story and is being constantly updated.)

Stock futures were flat in overnight trading after the major indexes rallied and oil prices tumbled below $100 a barrel ahead of Wednesday's Federal Reserve meeting.

Bitcoin (BTC) began to show fresh volatility as Wall Street trading began on March 15, ahead of a crucial interest rate announcement from the United States Federal Reserve.

Federal Reserve Chairman Jerome Powell took much of the suspense out of this week’s policy meeting when he said recently he would propose raising interest rates by a quarter percentage point from near zero, which would be the first increase since 2018.

WASHINGTON—Democratic Sen. Joe Manchin, of West Virginia, said in a statement Monday that he could not support the nomination of Sarah Bloom Raskin to become the Federal Reserve’s top banking regulator, dealing a major blow to her consideration in the evenly divided Senate.

The world is becoming increasingly volatile and uncertain. The assertion that “inflation is the silent thief” is becoming less relevant. In 2021, inflation has turned into a rather loud and brazen robber. Now, inflation is at its highest in the last forty years, already exceeding 5% in Europe and reaching 7.5% in the United States. The conflict between Russia and Ukraine affects futures for gold, wheat, oil, palladium and other commodities. High inflation in the U.S. and Europe has already become a real threat to the capital of tens of thousands of private investors around the world.

A war rages on Europe’s eastern rim, having already left thousands of people dead and injured and millions more displaced. Digital assets have become so woven into the global financial system that a major political and economic crisis like the one unfolding right now has crypto inevitably involved on all levels: individual, institutional and national. From Russian nationals turning their burning passports into nonfungible tokens (NFTs) to refugees using crypto as a last financial resort, millions of dollars worth of crypto donations flowing to Ukraine, and both digital asset platforms and the United States government weighing crypto sanctions against Russia, cryptocurrencies play a significant role in the events surrounding the ongoing calamity. It is also evident at this point that the crisis, in turn, will massively affect crypto itself, accelerating its adoption and regulation globally.

The equity markets in Europe and the United States are seeing a sea of red as traders continue to sell risky assets due to the geopolitical situation. Bitcoin (BTC) and several major cryptocurrencies are also witnessing profit-booking after the recent rise. 

Federal Reserve chairman Jerome Powell said that Russia’s invasion of Ukraine was likely to push up inflation, a setback to central bank expectations that price pressures would diminish in the coming months.

Federal Reserve Chairman Jerome Powell said he would propose a quarter-percentage point rate increase at the central bank’s meeting in two weeks amid high inflation, strong economic demand and a tight labor market, offering an unusually explicit preview of anticipated policy action.

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WASHINGTON—Federal Reserve Chairman Jerome Powell is set to return to Capitol Hill on Thursday morning for the second of two days of testimony, this time before the Senate Banking Committee.

Bitcoin (BTC) has the potential to become a "good bet" for investors if the Federal Reserve does everything it can to keep the U.S. economy afloat against impending recession risks, according to popular analyst Bitcoin Jack.

Bitcoin took a breather as investors booked profits, after the US Fed's chair Powell testified before the US Congress. Altcoins followed suit. Federal Reserve Chair Jerome Powell reaffirmed the US central bank's plan to raise interest rates this month for the first time since 2018. On the other hand, the saga in Eastern Europe continued. All of the top digital tokens were trading lower on Thursday. Avalanche tumbled as much as 6 per cent, whereas Cardano and Shiba Inu dropped 3 per cent each. Bitcoin and Ethereum also shed a per cent each.

Bill Gross, the one-time bond king who co-founded fixed income giant Pimco, said he sees the possibility of stagflation in the economy and he wouldn't buy stocks aggressively now.

US Federal Reserve chairman Jerome Powell is scheduled to testify before Congress on Wednesday and Thursday this week, with market participants in both crypto and traditional markets now eagerly awaiting his first comments on the economy after the war in Ukraine broke out.

Federal Reserve Chair Pro Tempore Jerome Powell and some members of the U.S. House of Representatives called for congressional action on crypto in response to discussions about Russia potentially evading sanctions.

The US Federal Reserve (Fed) will “proceed carefully” with its plan to hike interest rates this year despite the war in Ukraine, with the first hike of 0.25 percentage points still expected at the Fed’s next meeting in March, Fed chair Jerome Powell said during a hearing in Congress today.