Jerome Powell

Banks kept at 'overweight' by UOB on Fed's dovish stance, dividend yield
SINGAPORE (Jan 18): UOB Kay Hian is maintaining Singapore’s banking sector at “overweight” after the US Fed calmed the nerves of investors with its dovish disposition, which subsequently generated a relief rally. “We maintain ‘buy’ for both DBS and OCBC, although we prefer OCBC,” says analyst Jonathan Koh in a Friday report. The research house has target prices of $28.50 and ...
Trump's two-year stock honeymoon ends with hunt for betrayer
(Dec 24): Nobody was happier to take credit for surging stocks than Donald Trump, who touted and tweeted each leg up. Now the bull is on life support and the search for its killer is on. And while many on Wall Street share the president’s frustration with the man atop his markets enemies list, Federal Reserve Chairman Jerome Powell, they say Trump himself risks making things worse with too ...
Mnuchin called top US bank executives on market stability
WASHINGTON (Dec 24): Treasury Secretary Steven Mnuchin called top executives from the six largest US banks over the weekend, he said Sunday on Twitter, a move that followed heavy losses in the stock market last week and a partial federal government shutdown. “The CEOs confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market ...
Powell opens door to possible pullback in Fed rate-hike outlook
(Nov 29): Federal Reserve Chairman Jerome Powell opened the door for a potential pullback in projected interest-rate hikes for 2019 following a widely expected increase in December. In what was seen as a shift in tone from remarks last month, Powell said Wednesday that the Fed’s series of rate increases had brought policy to “just below” the range of estimates of neutral, where it ...
Fed's Powell says US outlook 'remarkably positive'
BOSTON (Oct 3): US Federal Reserve Chairman Jerome Powell on Tuesday hailed a “remarkably positive outlook” for the US economy that he feels is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future. It is a view, he said, based on how a changed economy is operating today, with businesses and households immunized by strong central ...
Fed lifts rates to 1.75% on improving economy; two more increases expected this year
(Mar 22): Federal Reserve officials, meeting for the first time under Chairman Jerome Powell, raised the benchmark lending rate a quarter-point and forecast a steeper path of hikes in 2019 and 2020, citing an improving economic outlook. Policy makers continued to project a total of three increases this year. “The economic outlook has strengthened in recent months,” the policy-setting ...
Investors face higher market risks in 2018
SINGAPORE (Feb 2): The Federal Open Market Committee, meeting for the last time under outgoing chair Janet Yellen, left the federal funds rate unchanged on Jan 31 while paving the way for rate hikes under Yellen’s successor Jerome Powell. See: Janet Yellen’s Fed era ends with unanimous vote of no rate hike Yellen’s four-year term has been characterised by a gradual tightening approach ...
Janet Yellen’s Fed era ends with unanimous vote of no rate hike
(Feb 1): Federal Reserve officials, meeting for the last time under Chair Janet Yellen, left borrowing costs unchanged while adding emphasis to their plan for more hikes, setting the stage for an increase in March under her successor Jerome Powell. “The committee expects that economic conditions will evolve in a manner that will warrant further gradual increases in the federal funds rate,” ...
Tough job for Powell
(Nov 2): It looks like Jerome “Jay” Powell is set to replace Janet Yellen as Fed Chair and he will face a tough job in judging the amount of tightening needed over the coming years. Powell has been on the Federal Reserve Board since 2012, but his background is in financial markets rather than economics. He looks like a centrist, “Yellen-lite” Chair, but without the academic credentials ...
Trump selects Powell for Fed Chairman, replacing Yellen
(Nov 2): President Donald Trump plans to nominate Federal Reserve Governor Jerome Powell to the top job at the US central bank, three people familiar with the decision said. Trump, who has said he’ll announce his pick Thursday, would be choosing a former private-equity executive who favours continuing gradual interest-rate increases and sympathises with White House calls to ease financial ...