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Corporate News 27 Feb 2018 | 10:30 PM

US Fed's Powell nods to stronger economy, backs gradual rate hike path

WASHINGTON: Federal Reserve Chairman Jerome Powell, in his first public appearance as head of the U.S. central bank, vowed on Tuesday to prevent the economy from overheating while sticking with a plan to gradually raise interest rates

Corporate News 02 Nov 2017 | 10:44 PM

Trump taps Fed centrist Powell to lead US central bank

WASHINGTON: President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second term but signaling a continuation of her cautious monetary policies.

Corporate News 26 Feb 2019 | 10:33 PM

Fed's Powell says 'no rush' to hike rates in 'solid' but slowing economy

WASHINGTON: The Federal Reserve is in "no rush to make a judgment" about further changes to interest rates, Fed Chairman Jerome Powell told U.S. lawmakers on Tuesday as he spelled out the central bank's approach to an economy that is likely slowing.

Economy 17 Jul 2018 | 11:10 PM

Fed's Powell: Years of strong jobs, low inflation still ahead

WASHINGTON: Federal Reserve Chairman Jerome Powell said on Tuesday he sees the United States on track for years more of steady growth, but was challenged in a congressional hearing by senators worried the Trump administration's trade policies were already damaging businesses in their districts.

Corporate News 10 Jan 2019 | 11:00 PM

Fed's Powell again stresses patience as U.S. economy's 'narrative' unfolds

WASHINGTON: Federal Reserve Chairman Jerome Powell on Thursday stressed again the U.S. central bank can be patient in approving any further rate increases as officials gauge whether the U.S. economy will slow this year, as some in financial markets worry, or continue motoring ahead as the Fed itself expects.

Corporate News 24 Aug 2018 | 10:31 PM

Fed's Powell: more rate hikes likely if economy stays strong

NEW YORK: The Federal Reserve's steady interest rate hikes are the best way to protect the U.S. economic recovery and keep job growth as strong as possible and inflation under control, Fed Chair Jerome Powell said on Friday in a high-profile endorsement of the central bank's current approach to policy

Banking 12 Feb 2019 | 10:37 PM

Fed's Powell: Bank consolidation weighing on rural communities

Powell does not think there is a large risk of recession right now

Business 26 Feb 2018 | 12:00 AM

Bond traders step back from 3% yield to watch Powell navigate Fedspeak

NEW YORK: Bond traders came the closest in four years to a 3% yield on the 10-year Treasury note. Whether it breaches that level may be determined by how new Federal Reserve chairman Jerome Powell handles the limelight.

Business 01 May 2019 | 10:45 PM

US$ rises as Fed's Powell cools bets on rate-cut

NEW YORK: The dollar rose against a basket of other currencies on Wednesday as U.S. Federal Reserve Chairman Jerome Powell said the central bank's current policy stance is appropriate, reducing expectations for a rate cut.

Corporate News 02 Nov 2017 | 2:57 AM

White House set to name Powell as Fed Chair on Thursday

WASHINGTON: President Donald Trump plans to nominate current Federal Reserve Governor Jerome Powell as the next chair of the U.S. central bank, a source familiar with the matter said.