News Updates from May 1 Fed Signals That Rates Will Remain Higher for Longer Yen Gains Amid Intervention Speculation
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Fed Chair Jerome Powell says inflation has been higher than thought and expects rates to hold steady
Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period.NBC News - Top stories - Federal Reserve -
Fed Chair Powell says inflation has been higher than thought, expects rates to hold steady
Speaking to the Foreign Bankers' Association, the central bank leader noted that the rapid disinflation that happened in 2023 has slowed considerably this year.CNBC - Business - Federal Reserve -
Stocks Rise Amid Mixed Signals on Inflation
Stocks edged higher after the producer-price index rose more than expected in April but data for the prior month was revised lower.The Wall Street Journal - World - Inflation -
The Fed's Powell affirmed the central bank's wait-and-see stance on interest rates, which remain at their highest level in more than 20 years.
The Fed’s Powell affirmed the central bank’s wait-and-see stance on interest rates, which remain at their highest level in more than 20 years.The Wall Street Journal - World -
Investors shun real estate as higher for longer fears bite
Global fund managers cut their property allocations to lows not seen since 2009Financial Times - Business -
Putin’s New Defense Minister Signals Russia’s Plan for a Long War in Ukraine
In his first public appearance as the newly appointed defense minister, Andrei R. Belousov spoke about veterans’ benefits and overcrowded hospitals rather than a new offensive in Ukraine.The New York Times - World - Ukraine -
Blinken Visits Ukraine Amid Russian Military Gains
The Biden administration had warned for months that Congress’s delay in approving an aid package would leave the Ukrainians vulnerable.The New York Times - Top stories - Ukraine -
Will High Interest Rates Curb Inflation? The Fed Will Wait and See
While consumers clamor for rate cuts, the central bank leadership is prepared to hang on until inflation stops climbing.Inc. - Business - Federal Reserve -
Fed Chair Jerome Powell Maintains Wait-and-See Posture on Inflation and Rates
The Fed chief said he expected inflation to continue heading lower but that he was less confident than he had previously been about that outlook.The Wall Street Journal - World - Federal Reserve -
Fed’s Powell hints interest rates will stay high as US inflation lingers
Central bank chair says economy performing well but cites ‘lack of progress’ on price pressuresFinancial Times - Business - Federal Reserve -
Mester Says Fed in 'Really Good Place' to Study Economy Before Charting Rate Path
The Cleveland Fed president said she wasn’t eager to consider interest-rate hikes.The Wall Street Journal - World - Federal Reserve -
Jimmy Dunne resigns from PGA Tour board. He feels his input is no longer needed
Jimmy Dunne is one of the key architects behind the PGA Tour's stunning deal with the Saudi backers of LIV GolfABC News - Sports -
Karen Read’s Murder Trial: An Endless Tide of Speculation
Karen Read has been accused of murdering her boyfriend, Officer John O’Keefe. But her lawyers say she’s innocent, alleging a cover-up to hide the truth about his death.The New York Times - Top stories -
U.S. recovering from pandemic learning loss, but gaps remain
American students are starting to recover from pandemic learning losses, according to a Harvard University study. But test scores still lag behind 2019 levels, and schools will soon run out of federal pandemic-era funding. CBS News reporter ...CBS News - Top stories