By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve’s fight to lower inflation back to its 2% target “has a long way to go,” Federal Reserve Chair Jerome Powell said on Wednesday in testimony prepared for delivery to the House Financial Services Committee. “Inflation has moderated somewhat since the middle of last year,” with the…
By Matt Tracy (Reuters) -U.S. bond investors are coming around to using technology more to trade fixed-income products, as they seek to inject efficiency into processes that are still largely done manually, a study by financial analytics firm Coalition Greenwich and global fintech firm TS Imagine said. Traders have slowly adopted execution management systems (EMS)…
By Ann Saphir (Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Wednesday that the U.S. central bank needs more clarity on inflation and the labor market’s trajectory before deciding on its next step. “I feel like the Fed’s framework is, ‘wait and see,’” Goolsbee told the WSJ Global Food Forum in Chicago….
(Reuters) – Federal Reserve Chair Jerome Powell said on Wednesday he expects the U.S. dollar to remain the world’s reserve currency as long as democratic institutions and the rule of law remain in place in the U.S. “The status of the dollar as the world’s reserve currency is a very important thing to us,” Powell…
By Pete Schroeder WASHINGTON (Reuters) -Raising U.S. bank capital requirements to guard against future losses could increase the cost of credit but that may be justified to ensure the U.S. banking system is safe, Federal Reserve Chair Jerome Powell told Congress on Wednesday. Testifying before the House Financial Services Committee, Powell was grilled by Republican…
PARIS (Reuters) – Jet engine maker Pratt & Whitney flagged “solid progress” in the aerospace supply chain on Wednesday, addressing a key area of concern for planemakers as they continue to rack up orders at the Paris Airshow. The first two days of the world’s biggest air show saw bumper orders from Indian airlines looking…
By David Randall NEW YORK(Reuters) – Individual investors have given a cold shoulder to Cathie Wood’s ARK Innovation Fund during their searing run this year, but some market watchers believe that may change if risk appetite keeps improving. The $8 billion fund, which outperformed all U.S. equity funds during the pandemic rally of 2020 but…
By Elizabeth Piper and Marc Jones LONDON (Reuters) -Ukrainian Prime Minister Denys Shmyhal said on Wednesday he expected to secure almost $7 billion in aid, after telling a London conference Russia’s war meant Kyiv was facing the largest reconstruction project in Europe since World War Two. At the conference Britain, the United States, the European…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks softened on Tuesday, closing in negative territory as investors began the holiday-shortened week by taking profits in the wake of a sustained rally amid signs of weakening global demand. Federal Reserve Chairman Jerome Powell’s congressional testimony Wednesday could be a potential market mover. All three major…
By Luc Cohen NEW YORK (Reuters) – The founder of OneTaste, a sexual wellness company that claims to teach “orgasmic meditation,” plans to challenge a federal criminal charge that she surveilled group members and withheld promised wages, her lawyer said on Wednesday. Reid Weingarten, a lawyer for Nicole Daedone, told U.S. District Judge Diane Gujarati…
