Fed Chair Jay Powell told US senators that a recession is “certainly a possibility”. The possibility of a recession decreased the price of Brent oil by 1.6% to $110 a barrel. regional Stoxx 600 index fell 0.6%, while the FTSE 100 index fell 0.9% and Germany’s Dax index fell 0.4%. As markets processed statements from … Read more
Jay Powell warns that a US recession is ‘certainly a possibility. Fed chair says external factors including the Ukraine conflict and China’s policy could complicate the outlook. Inflation at 8.6%, the highest level in four decades, has become more difficult for the central bank to control. Jay Powell has stated that a US recession is … Read more
S&P 500 index surrendered early gains to turn negative in the final 30 minutes of the New York trade. Oil companies, notably Marathon Oil and ConocoPhillips, fell as Brent crude decreased by 2.5%. US consumer price inflation reached a 40-year high in May. A fledgling rise in US stocks waned on Wednesday evening, as a … Read more
Jay Powell attempted to allay fears and concerns about an oncoming recession. The chairman of the US Federal Reserve warned that inflation could continue to surprise to the upside. Inflation numbers have been worse than anticipated over the past few weeks. Jay Powell attempted to allay fears and concerns about an oncoming recession while cautioning … Read more
