News

"We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension," said Powell of the effect of the Trump tariffs.

For now, he said in remarks prepared for delivery at the Economic Club of Chicago, the Fed could keep its benchmark interest rate steady "to wait for greater clarity before considering any adjustments to our policy stance." Repeating comments made earlier this month, the Fed chief noted that the impact of those and other policy changes "are still evolving," but likely to be "larger than anticipated." When asked if there’s such a thing as a Fed put for the stock market, his answer was ‘no’.

The US stock market is closed Friday in observation of Good Friday. So is the bond market, which also closes early Thursday.

The youngest population of workers want more control over their career trajectory.

Traders on Wednesday kept bets on Federal Reserve rate cuts this year after Fed Chair Jerome Powell said the U.S. central bank is well-positioned to wait for greater clarity before making any changes to the stance of policy. Traders of short-term interest-rate futures are betting the Fed resumes rate cuts in June and that by year end the policy rate, currently in the 4.25%-4.50% range, will be a full percentage point lower.

Boeing shares remained in focus Wednesday as investors digested yesterday's reports that China told its airlines not to take more deliveries of the company's jets amid an intensifying trade war between Washington and Beijing. Monitor these important chart levels.

First, I will briefly discuss the outlook for the economy and monetary policy. At the Fed, we are always focused on the dual-mandate goals given to us by Congress: maximum employment and stable prices. The labor market is at or near maximum employment.

The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday. “As that great Chicagoan Ferris Bueller once noted, ‘Life moves pretty fast,'" Powell said in a speech to the Economic Club of Chicago. "For the time being, we are well positioned to wait for greater clarity” on the impact of policy changes in areas such as immigration, taxation, regulation, and tariffs, Powell said.

Exporters attending China’s biannual trade fair in Canton were emphatic about the need to look beyond selling to Americans. China has been highlighting its focus on trade with countries other than the United States at various trade fairs that are showcasing its vast market and competitiveness as a manufacturing giant. U.S. President Donald Trump announced sweeping tariffs of 145% on all products imported from China.

Policy shifts and geopolitical turmoil are as inevitable as they are disruptive—but markets reward patience and discipline.