The fortunes of America’s richest people got slashed by $78 billion following Federal Reserve Chair Jerome Powell's speech. During his speech, which was eight minutes long, Powell pointed out that the US central bank will keep raising interest rates and probably leave them elevated for a while to reduce inflation.

Fortunes of America’s richest people slashed by $78bn after Fed chief Powell's speech

When it comes to the economy, more is usually better. Bigger job gains, faster wage growth and more consumer spending are all, in normal times, signs of a healthy economy.

Why a not-so-hot economy might be good news

It is easy to recall the 1980s as being a boom time for the United States economy — a time of gleaming excess that, among other things, powered Ronald Reagan to a landslide reelection in 1984.

How the 2020s economy could resemble the 1980s

President Joe Biden nominated Jerome Powell to serve a second term as chair of the US Federal Reserve, allowing him to lead the response to the economic damage caused by Covid-19 while dealing with a wave of record inflation.

Joe Biden: Jerome Powell 'right person' to lead federal reserve

The economy of United States continues to show 'sustained improvement' from the impact of the coronavirus pandemic and ongoing job market gains, but inflation has 'increased notably in recent months,' Federal Reserve Chair Jerome Powell said in prepared testimony for a congressional hearing.

Fed's Powell expects notable rise in inflation

It was once said that the governor of the Bank of England had the power to guide the behavior of Britain’s banks with the mere raise of an eyebrow. For the Federal Reserve in 2021, the equivalent may be Jerome Powell’s chuckle.

Jerome Powell promises not to take away the punch bowl

The US Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion but signalled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from President Donald Trump.

US Federal Reserve cuts interest rates, signals holding pattern for now

With US-China trade tensions roiling markets, investors are counting on support for stocks coming from a Federal Reserve willing to keep cutting interest rates to help the US economy avoid a severe downturn.

Wall Street Week Ahead: With rate cut likely, market wonders how low Fed will go

Asian shares sank on Monday as the latest salvo in the Sino-US trade war shook confidence in the world economy and sent investors steaming to the safe harbours of sovereign bonds and gold, while slugging emerging market currencies.

Asian shares slugged, bonds bought amid trade gloom

Oil prices clawed back the previous day's losses on Friday, with Brent nudging above $60 a barrel, as tighter supplies from key producers offset slowing demand growth while investors await clues from the Federal Reserve on US monetary policy.

Oil prices eke out small gains ahead of Federal Reserve Chair Jerome Powell speech

Asian shares struggled to make any headway on Friday as weak US manufacturing activity and uncertainty over how much further the Federal Reserve would cut rates added to the general air of caution in markets buffeted by global growth fears.

Asian stocks shaky before Fed Chairman Jerome Powell's speech as growth woes weigh

Oil rose further above $60 a barrel on Thursday, supported by a drop in US crude inventories and OPEC-led supply cuts, although worries about the global economy weighed.

Oil steadies above $60 over OPEC supply cuts, global slowdown worries

Four former leaders of the US Federal Reserve have called for the independence of the central bank, saying that the Fed and its chair must be permitted to act in the best interests of the economy, free of short-term political pressures, and, in particular, without the threat of removal or demotion of Fed leaders for political reasons.

Former United States Federal leaders call for independence of Central Bank

The dollar charged to its highest in more than two years on Thursday after the Federal Reserve spoiled hopes of a run of US interest rate cuts. A blizzard of global data and events was going on, but it was Fed Chair Jerome Powell's remarks on Wednesday that set the markets running.

Mind your backs, dollar coming through!

Facebook must meet "a very high standard" before it moves ahead with its planned digital currency Libra, US Treasury Secretary Steven Mnuchin said Monday. Mnuchin said US regulators have already expressed concerns to Facebook about the plan for a global cryptocurrency, noting that these kinds of virtual coins have in the past been associated with money laundering and illicit activities.

Facebook needs 'very high standard' for Libra coin: US Treasury Steven Mnuchin

All three of Wall Street's main indices popped to fresh records on Friday, ending the week on an emphatic note as investors grew increasingly confident the Federal Reserve will cut interest rates at the end of the month.

Wall Street notches all-time highs as rate cut hopes lift investor spirits

Wall Street stocks cheered dovish testimony from Federal Reserve Chair Jerome Powell on Wednesday, lifting the Nasdaq to a fresh record while the prospect of looser monetary policy pressured the dollar.

Nasdaq ends at record high, dollar falls as US Federal Reserve signals possible rate cut

The number of Americans filing applications for unemployment benefits dropped to a three-month low last week, suggesting sustained labor market strength that could help support a slowing economy.

United States weekly jobless claims fall to three-month low

Domestic stock market indices ended higher on Thursday, driven by broad-based gains and tracking strength across global equities, after dovish comments by the US.

Sensex, Nifty close higher as Federal chief rekindles rate-cut hopes

Asian shares pulled ahead on Wednesday while rising Treasury yields lifted the dollar as investors waited anxiously to hear if the world's most powerful central banker would confirm or confound expectations for US easing this month.

Asia shares rise as US dollar moves up

The S&P 500 surged past 3,000 points for the first time on Wednesday in early trading following congressional testimony from Federal Reserve Chairman Jerome Powell that pointed to a possible interest rate cut.

S&P 500 hits 3,000 for the first time as Fed signals possible rate cut

Asian stocks struggled to rebound on Tuesday as investors came to terms with sharply reduced expectations the Federal Reserve will deliver a large interest rate cut at the end of July.

Asian stocks hobbled by fading expectations for aggressive Fed rate cut

World stocks fell for a third straight day on Tuesday, as a stinging warning came from German chemicals giant BASF about the effects of the global trade war and traders hedged bets on a hefty US interest rate cut later this month.

World stocks drop for third day, BASF warning stings Europe

Asian equities suffered fresh losses, the dollar rose and gold retreated Wednesday after top Federal Reserve officials dented hopes for a big interest rate cut next month, while traders are also fretting over this week's meeting between Donald Trump and Xi Jinping.

Asian markets and gold drop, dollar boosted on Fed rate worries

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