Archiv: Jerome Powell

22.09.2022 - 16:45 [ ]

How the latest Fed rate hike will affect your credit card bill

Collectively, Americans have nearly $900 billion dollars in credit card debt, and if you carry a balance, your bill is about to get more expensive, as the Federal Reserve raised its key interest rate for the fifth time this year. Currently, the average interest rate on a new credit card offer is more than 21%, according to LendingTree’s Matt Schulz. “You can expect that average to go up to over 22% in the next couple of months because banks don’t tend to waste a lot of time on raising rates when the Fed does,” Schulz said.

22.09.2022 - 16:28 [ ]

Angst vor Schulden: US-Zinssprung mit weltweiten Folgen

Das Hauptproblem: Die hohen Zinssätze treiben den US-Dollar in die Höhe – zum Nachteil anderer Länder. Denn nicht nur Importe werden teurer, sondern auch die Bedienung von Krediten. Die straffe Geldpolitik der US-Notenbank bekommen daher vor allem einkommensschwächere Länder zu spüren, die sich während der Pandemie hoch verschuldet und ihre Kredite in US-Dollar aufgenommen haben – selbst aber keine Dollars verdienen.

17.06.2022 - 04:15 [ ABC News ]

Fed’s aggressive rate hikes raise likelihood of a recession

Each rate hike means higher borrowing costs for consumers and businesses. And each time would-be borrowers find loan rates prohibitively expensive, the resulting drop in spending weakens confidence, job growth and overall economic vigor.

“There’s a path for us to get there,“ Powell said Wednesday, referring to a soft landing. „It’s not getting easier. It’s getting more challenging”

It was always going to tough: The Fed hasn’t managed to engineer a soft landing since the mid-1990s.

18.09.2019 - 22:39 [ ]

Fed decision and Jerome Powell press conference: live blog and video

The Federal Reserve makes its interest rate decision and also releases new versions of its dot plot and economic projections and Chairman Jerome Powell will address the media afterwards. Follow along as MarketWatch’s Rex Nutting, William Watts, and Jeffrey Bartash live-blog the action and watch the video of the press conference.

18.09.2019 - 22:32 [ ]

US-Notenbank: Fed senkt erneut den Leitzins

Trump hatte zuvor immer wieder die Fed aufgefordert, die Zinsen deutlich zu senken, um die Wirtschaft anzukurbeln. Er hält das Zinsniveau für viel zu hoch und verlangt den geldpolitischen Schlüsselsatz auf „null oder weniger“ zu senken.

Eine Senkung des Zinssatzes verbilligt Kredite, weswegen Firmen leichter investieren können und viele Bürger weniger für den Schuldendienst ausgeben müssen – sie haben so mehr Einkommen zur Verfügung.

23.08.2019 - 18:58 [ ]

More Rate Cuts? Powell Says Fed Is Ready To Help Economy Grow Amid Trade Tensions

Signalling the possibility of more interest-rate cuts, Federal Reserve Chairman Jerome Powell said the central bank will „act as appropriate“ to sustain the economic expansion as the trade war with China takes a toll on global growth and the U.S. economy.

23.08.2019 - 18:53 [ ]

Challenges for Monetary Policy – Chair Jerome H. Powell

As we look back over the decade since the end of the financial crisis, we can again see fundamental economic changes that call for a reassessment of our policy framework. The current era has been characterized by much lower neutral interest rates, disinflationary pressures, and slower growth. We face heightened risks of lengthy, difficult-to-escape periods in which our policy interest rate is pinned near zero. To address this new normal, we are conducting a public review of our mo netary policy strategy, tools, and communications—the first of its kind for the Federal Reserve.

20.08.2019 - 17:49 [ ]

Trump fordert vor Notenbanktagung große Zinssenkung der Fed

Damals hatte Trump den Währungshüter als bestens geeignet, engagiert und klug beschrieben. An diesem Freitag hält der Fed-Chef bei einem jährlichen Treffen von Notenbankern in Jackson Hole eine Rede zu den Herausforderungen der Geldpolitik.

20.06.2019 - 06:03 [ ]

US-Leitzins bleibt bei 2,25 bis 2,5 Prozent

Das Zielband für den Leitzins Fed Funds Rate verharre zwischen 2,25 und 2,50 Prozent, teilte die Fed gestern in Washington mit.

Im vergangenen Jahr hatte die US-Notenbank viermal die Zinsen angehoben. Die letzte Erhöhung im Dezember war die neunte Anhebung seit Ende 2015.

26.12.2018 - 18:11 [ ]

Is the era of central bank independence over?

The fortress walls of the Bank of England project an image of solidity, stability and impregnability. It matches the reputation it has tried to build over more than 400 years for sober analysis and, in recent years, steady impartiality.

Yet its defences have been infiltrated.

26.12.2018 - 18:07 [ ]

Trump advisor says Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin’s jobs are safe

President Donald Trump’s economic advisor Kevin Hassett said Wednesday that Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin’s jobs are not under threat.
Hassett told an NBC News reporter at the White House that Powell’s role as the leader of the U.S. central bank is completely safe.
That assurance followed Hassett’s appearance on Fox Business, where the head of Trump’s Council of Economic Advisors said he is highly confident that the president is happy with Mnuchin.

26.12.2018 - 18:00 [ ]

Treasury Secretary Mnuchin moves to quell firestorm, says Trump never suggested firing Fed Chairman Powell despite ‚absolute terrible‘ policy

(22.12.2018) President Donald Trump is opposed to the Federal Reserve’s rate hike campaign, but has never suggested firing Fed Chairman Jerome Powell, Treasury Secretary Steven Mnuchin said on Saturday.
„I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so,” Mnuchin said via Twitter.

25.12.2018 - 12:12 [ ]

Can Trump fire Fed Chair Jerome Powell?

Adriene Hill: So there were reports over the weekend that Trump has asked his advisers if he can remove Powell. And I want to start with just that big picture question here: Can he?

Binyamin Appelbaum: It’s a really big and open question at the moment. The law says that he can only remove a member of the Fed’s Board of Governors “for cause.”

25.12.2018 - 11:58 [ ]

The Fed thinks economic growth will slow as Trump’s 2020 re-election bid approaches

The Federal Reserve sees economic growth slowing next year.
Amid concerns about weakening GDP growth, President Donald Trump cannot afford losing that selling point ahead of his 2020 re-election bid.

25.12.2018 - 11:34 [ ]

US-Wirtschaft: Trump greift Notenbank erneut an

Attacken auf die Notenbank sind für einen US-Präsidenten normalerweise tabu, nicht jedoch für Amtsinhaber Trump: Die Fed sei das einzige Problem der Wirtschaft. Der Dow Jones und der japanische Nikkei-Index sackten ab.

25.12.2018 - 11:22 [ ]

Cramer: Fed chief Jerome Powell is Trump’s worst re-election nightmare

(20.12.2018) „If I were running Trump’s re-election campaign, Jay Powell would be my worst nightmare,“ CNBC’s Jim Cramer says.
Cramer argues the president is right to worry about a possible recession in 2019 as a result of the Powell’s rate hikes.

25.12.2018 - 11:17 [ ]

How the economy could become Trump’s biggest re-election threat

(18.12.2018) The greatest threat to President Donald Trump’s re-election bid may not be the slew of investigations closing in on his Oval Office but a possible economic slowdown. And the president knows it.

The Dow Jones Industrial Average fell again Monday, the latest dip in the roller coaster markets amid the strain of Trump’s trade war, rising interest rates and worries about a slowing global economy.

22.12.2018 - 16:51 [ Jennifer Jacobs, White House reporter for Bloomberg News / Twitter ]

Scoop: Trump has talked about firing Jerome Powell, a move that would represent an unprecedented challenge to Federal Reserve’s independence. Advisers hope latest bout of anger will dissipate over holidays. Story by me, @SalehaMohsin, @margarettalev.

12.10.2018 - 18:35 [ Reuters ]

At IMF-World Bank meetings, Powell praised as Trump calls Fed ‚crazy‘

The Bank of England governor and the head of the International Monetary Fund praised the abilities of Federal Reserve Chairman Jerome Powell on Thursday, after U.S. President Donald Trump said the Fed had “gone crazy” by raising interest rates.