Economy

Powell: 'Soft' economic landing may be out of Fed's control

Powell: ‘Soft’ economic landing may be out of Fed’s control

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For weeks, Powell has portrayed the Fed’s drive to raise interest rates …

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Powell says he can't guarantee a 'soft landing' as the Fed looks to control inflation

Powell says he can’t guarantee a ‘soft landing’ as the Fed looks to control inflation

US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. jim watson | AFP | Getty Images Federal Reserve Chairman Jerome Powell warned Thursday that getting inflation under control could cause some economic pain but remains his top priority. Powell said he couldn’t promise a so-called soft …

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Federal Reserve Chair Jerome Powell confirmed by Senate for a second term

Federal Reserve Chair Jerome Powell confirmed by Senate for a second term

Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 04, 2022 in Washington, DC. Powell announced the Federal Reserve is raising interest rates by a half-percentage point to combat record high inflation. Win Mcnamee | Getty Images As he and his colleagues engage in a …

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Alphabet CEO Sundar Pichai: CNBC interview

Alphabet CEO Sundar Pichai: CNBC interview

CNBC: Sundar Pichai, CEO of Alphabet and Google being interviewed by Deirdre Bosa. CNBC Google CEO Sundar Pichai said that while consumers are putting the Covid pandemic in the rearview mirror, the economy is clearly a growing concern for the company and the broader market. “We definitely see uncertainty ahead, like everyone else,” Pichai told …

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Ford, General Motors, Tapestry and more

Ford, General Motors, Tapestry and more

Take a look at some of the biggest movers in the premarket: Ford (F), General Motors (GM) – Ford fell 2.8% in premarket trading while GM slid 3.4% after Wells Fargo double-downgraded both stocks to “underweight” from “overweight.” Wells Fargo said 2022 could represent a profit peak for legacy automakers, with the shift toward electric …

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China may chalk up more debt as lockdowns hit the economy

China may chalk up more debt as lockdowns hit the economy

Covid lockdowns have hit China’s economy, and the Asian giant might have to issue more debt to continue meeting its growth target. Kevin Frayer | Getty Images News | Getty Images China may have to issue more debt as it tries to keep growing in the face of Covid lockdowns that are stunting its economy. …

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Dallas Federal Reserve names Lorie Logan new president to succeed Robert Kaplan

Dallas Federal Reserve names Lorie Logan new president to succeed Robert Kaplan

The Dallas Federal Reserve has named a new president to succeed its former one, who resigned last year amid a controversy over stock trading. Lorie K. Logan will serve as head of the central bank branch, according to an announcement Wednesday. Central bank watchers know Logan’s name well, as she currently serves as head of …

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How fast does inflation cut buying power?  Here's a simple guide

How fast does inflation cut buying power? Here’s a simple guide

Alvarez | digitalvision | Getty Images Inflation is hovering near 40-year highs. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, the largest jump since the summer of 1982, the US Department of Labor said Wednesday. While a slight reduction from the 8.5% rate in March, the readings …

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Carvana Lays Off Thousands on Same Day It Buys Auction House

Carvana Lays Off Thousands on Same Day It Buys Auction House

Photo: Getty Images (Getty Images) Carvana, the used car dealer founded a decade ago whose meteoric growth was met with a fair number of problemssaid Tuesday that it would lay off 2,500 employees, with executives going unpaid for the rest of 2022. In filing with the Securities and Exchange CommissionCarvana called the move a “right-sizing” …

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5 things to know before the stock market opens Tuesday, May 10

5 things to know before the stock market opens Tuesday, May 10

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to rise after S&P 500 hits lowest level in over a year Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 22, 2022. Brendan McDermid | …

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