Jerome Powell – Oil & Gas 360

Jerome Powell faces turbulent 2022 as Fed walks economic tightrope

December 22, 2021

Fox Business Federal Reserve Chairman Jerome Powell is entering 2022 with the American economy on shaky ground, teeing up a challenging year for the U.S. central bank as it accelerates its withdrawal of support, all while navigating the ever-changing landscape of the coronavirus pandemic – this time without the aid of trillions of dollars in fiscal stimulus. Wall Street forecasters are dialing back their growth

Fed Chair Powell calls for more help from Congress, says there’s a low risk of ‘overdoing it’

October 6, 2020

CNBC Federal Reserve Chairman Jerome Powell called Tuesday for continued aggressive fiscal and monetary stimulus for an economic recovery that he said still has “a long way to go.” Noting progress made in job creation, goods consumption and business formation, among other areas, Powell said that now would be the wrong time for policymakers to take their foot off the gas. Doing so,

Fed picks its side in inflation debate and sends market a message — no rate hikes for years

September 17, 2020

CNBC The Fed does not expect to see inflation pick up for years, and it is willing to keep rates at zero even after it does. Stocks initially surged after the Fed released its post-meeting statement and its latest economic forecast, showing it will keep interest rates at zero at least through 2023, as expected. Stocks gave up their gains as

The Fed could could still move markets Wednesday even with rates on hold for the foreseeable

September 15, 2020

CNBC While committed to keeping interest rates low for the next several years, the Federal Reserve still has plenty of work to do as it steers the U.S. economy through the pandemic. As central bank officials gather Tuesday and Wednesday for their policy meeting, a number of items are on the agenda, even as the mystery of where rates are headed

Powell announces new Fed approach to inflation that could keep rates lower for longer

August 27, 2020

CNBC The Federal Reserve announced a major policy shift Thursday, saying that it is willing to allow inflation to run hotter than normal in order to support the labor market and broader economy. In a move that Chairman Jerome Powell called a “robust updating” of Fed policy, the central bank formally agreed to a policy of “average inflation targeting.” That

Fed holds rates steady, says economic growth is ‘well below’ pre-pandemic level

July 29, 2020

CNBC The Federal Reserve held interest rates steady in a decision announced Wednesday that came along with a tepid outlook on the coronavirus-plagued economy. In a move widely expected, the central bank kept its benchmark overnight lending rate anchored near zero, where it has been since March 15 in the early days of the pandemic. Along with keeping rates low, the

Fed pledges to keep rates near zero until full employment, inflation come back

April 29, 2020

CNBC The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy stance until it is comfortable that the U.S. economy is back on its feet. Following this week’s Federal Open Market Committee meeting, the central bank said it would maintain its current interest rate target between 0% and 0.25%. “The ongoing

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

August 22, 2019

From Reuters Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts. Traders are awaiting a speech from Federal Reserve Chair Jerome Powell on Friday in Jackson Hole, Wyoming, that could indicate whether the U.S. central bank will continue to cut interest rates.

Oil Slumps 7% as Trump Announces Additional Tariffs on Chinese Imports

August 1, 2019

From Reuters Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1. The drop in Brent crude was the steepest in more than three years, undoing a fragile oil rally built on steady drawdowns

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