Powell: More rate hikes are still on the table
Additional interest rate hikes are still on the table and rates could remain elevated for longer than expected, Federal Reserve Chair Jerome Powell said Friday.
Stay updated with breaking news from He Fed. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Additional interest rate hikes are still on the table and rates could remain elevated for longer than expected, Federal Reserve Chair Jerome Powell said Friday.
A stock sell-off in August, prompted in part by rising bond yields, means traders are listening closely for how long they can expect higher rates.
(Bloomberg) -- Federal Reserve Chair Jerome Powell is expected to map out final steps in the US central bank’s campaign to tame inflation, and reinforce its commitment to finishing the job, when he speaks Friday in Jackson Hole, Wyoming.Most Read from BloombergWagner Chief Prigozhin Listed Aboard Crashed Jet, Reports SayHuawei Building Secret Network for Chips, Trade Group WarnsWagner Chief Prigozhin Was in Deadly Jet Crash, Russia SaysQQQ Up in Late Hours on Nvidia’s Bullish Forecast: Markets W
With Nvidia earnings out of the way, the next test for US markets is Federal Reserve Chair Jerome Powell’s annual speech at the Jackson Hole economic summit on Friday.
US mortgage rates surged again this week, rising to their highest level since 2001.