County Powell Financial News

Powell at Jackson Hole: Solid economy could require additional rate hikes from Fed to further slow inflation

BitMEX co-founder, Arthur Hayes, projects an optimistic outlook for Bitcoin, especially in light of the Federal Reserve's current monetary policies. 

Bernie Marsden, the former guitarist of British hard rock band Whitesnake, died at the age of 72. Confirming the death of the legend, his friend and bassist Neil Murray said «Bernie died peacefully on Thursday evening with his wife, Fran, and daughters, Charlotte and Olivia, by his side.»

By Saqib Iqbal Ahmed

By Samuel Indyk

labour market strength may call for a greater response. “Additional evidence of persistently above-trend growth could put further progress on inflation at risk and could warrant further tightening of monetary policy," added Powell.

Investing.com — Most Asian currencies fell on Friday, while the dollar surged to two-month peaks as markets hunkered down ahead of more signals on monetary policy from the Jackson Hole Symposium.

Nasdaq after this week's sharp gains and as investors were nervous ahead of Federal Reserve Chair Jerome Powell's speech Friday. Shares of Nvidia ended barely higher after they hit a record high early in the session. The company late Wednesday gave a much stronger-than-expected forecast amid demand for its artificial intelligence chips and said it would buy back $25 billion in stock. All of the major S&P 500 sectors were down on the day, however, and an index of semiconductors dropped 3.4%. Central bankers and other economic leaders gathered Thursday for an annual symposium in Jackson Hole, Wyoming.

The Federal Reserve may send financial markets a hawkish message when global central bankers meet at the Jackson Hole Economic Symposium this week.

(Reuters) — The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy leanings of policymakers, with a dove more focused on risks to the labor market and a hawk more focused on the threat of inflation.

The combination of headwinds preying on the US stock market is screaming ‘correction’ so loudly that, interestingly, the only factor weighing against such a move from occurring might be the very fact that markets frequently defy expectations when a situation seems overly apparent.

Donald Trump and several allies were indicted in Georgia on Monday, accused of scheming to illegally overturn his 2020 election loss in the state. It's the fourth criminal case to be brought against the former president and the second to allege that he tried to subvert the results of the vote.

Trump in the Georgia case, including his lawyers Rudy Giuliani, John Eastman, Sidney Powell, Jenna Ellis, and Kenneth Chesebro, former White House chief of staff Mark Meadows, ex-Justice Department official Jeffrey Clark and the former president’s 2020 Election Day director of operations Michael Roman. Trump has pleaded not guilty to the New York and federal charges, and has accused his Democratic political opponents of bringing them to derail his bid to recapture the White House.

Atlanta, Georgia. Trump and his supporters were charged with attempt to interfere with the state’s 2020 presidential election. Among those charged included former publicist from Chicago, Trevian Kutti.

(Reuters) — The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy leanings of policymakers, with a dove more focused on risks to the labor market and a hawk more focused on the threat of inflation.

By Saeed Azhar

RBI) raises rates in India to mitigate the impact of Fed hikes on foreign capital inflow and the rupee's health. But experts still believe that the RBI may maintain a status quo on rates and keep the benchmark repo rate unchanged for the third time in a row in its upcoming bi-monthly policy review next week.

Federal Reserve rate hike that left the door open for future hikes, but the Dow scored a 13-day winning streak. The Fed lifted its benchmark overnight interest rate by a widely expected 25 basis points, marking the 11th hike in the U.S. central bank's past 12 policy meetings.

yields slid on Wednesday in choppy trading after the Federal Reserve raised interest rates by a widely expected 25 basis points (bps) and left the door open for another increase, but the market is not buying it. The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25% to 5.50% range. The accompanying policy statement left the door open to another increase, citing still-elevated inflation.

By Howard Schneider

stablecoin market while most cryptocurrencies are posting outsized gains this year. Traders use stablecoins to move money into and out of cryptocurrency markets, swap funds between exchanges and as a haven in times of high volatility. Often the market capitalization of the tokens increases during rallies and declines during downturns. So far this year, the total value of the crypto market has jumped around 50% to about $1.2 trillion, while the stablecoin sector has shrunk almost 8% to around a two-year low of $127 billion, according to researcher CCData. This discrepancy could have several explanations. Hoping for higher returns, investors may be rotating out stablecoins and into appreciating market leaders Bitcoin and Ether, according to Jacob Joseph, a research analyst at CCData. Stablecoins don’t pay interest and usually seek to maintain a one-to-one ratio with other assets such as the dollar, hence their name. Crypto advocates downplay the decline, with some citing the overall light trading volume in the wake of last year’s market collapse.