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Showing 11 - 20 of 90 results for "Jerome Powell"

UBS throws $4.8bn lifeline to Credit Suisse

CASSANDRA BALDINI  |  MONDAY, 20 MAR 2023
... upheavals in the US banking market in March 2023." US Treasury Secretary Janet Yellen and Federal Reserve chair Jerome Powell showed their support for the new entity, which is expected to create a business with more than US$5 trillion. "We welcome the ...

HSBC bails out Silicon Valley Bank UK

CASSANDRA BALDINI  |  TUESDAY, 14 MAR 2023
... surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve," said chair Jerome Powell. The Fed advised the review report will be released at the start of May. "We need to have humility and conduct a careful ...

US agencies act to prevent crisis

JAMIE WILLIAMSON  |  MONDAY, 13 MAR 2023
... Silicon Valley Bank failure. Early this morning, a joint statement from US Treasury secretary Janet Yellen, Fed chair Jerome Powell and Federal Deposit Insurance chair Martin Gruenberg announced all insured depositors in Silicon Valley Bank and Signature ...

US interest rates may go higher than expected: Powell

CASSANDRA BALDINI  |  THURSDAY, 9 MAR 2023
... rates may well be higher than previously anticipated following stronger economic data, said Federal Reserve chair Jerome Powell before the House Financial Services Committee. Providing testimony yesterday, Powell explained the Fed will continue to make ...

Federal Reserve raises rates 0.75%

ANDREW MCKEAN  |  THURSDAY, 3 NOV 2022
... Following the central bank's decision, the federal funds rate benchmark sits between 3.75% and 4%. Federal Reserve chair Jerome Powell said the Fed is moving its policy stance purposefully to a level that will be sufficiently restrictive to return inflation ...

Northern Trust names global macro fixed income head

CHLOE WALKER  |  WEDNESDAY, 19 OCT 2022
... Trust said. Most recently, he served as special advisor to the Federal Reserve as well as special advisor to chair Jerome Powell. As head of global macro fixed income, Bomfim will have responsibility for the Global Macro Group, which is responsible for ...

US inflation drops to 8.5%

CASSANDRA BALDINI  |  THURSDAY, 11 AUG 2022
... releases between now and then, including another non-farm payrolls release and another CPI release, and Fed chair Jerome Powell pointed to data being the key driver of quantum of future rate hikes at their last meeting. These will be very closely monitored ...

Federal Reserve delivers 0.75bp rate rise

ANDREW MCKEAN  |  THURSDAY, 28 JUL 2022
... 2.5% and indicated further increases will likely be appropriate. Explaining the decision, Federal Reserve chair Jerome Powell said: "From the standpoint of our congressional mandate to promote maximum employment and price stability, the current picture ...

Inflation a greater danger than recession: Powell

ANDREW MCKEAN  |  THURSDAY, 30 JUN 2022
Federal Reserve chair Jerome Powell flagged that the US Federal Reserve had to raise rates rapidly to mitigate higher inflation, even if that increased recession risks. Speaking at the European Central Bank Forum in Portugal, Powell said: "Our aim is ...

US Fed indicates several more half-percentage rate rises

ANDREW MCKEAN  |  THURSDAY, 26 MAY 2022
... employment and inflation at the rate of two percent over the longer run." Also, in an unusual step, Federal Reserve chair Jerome Powell directly also addressed the US on the central banks plan to tame inflation in a post-meeting news conference. GSFM ...