Chairman Jerome Powell said the Federal Reserve would not make policy related to climate change, a response to Republican warnings that the Federal Reserve was going beyond its remit to push green policies. Powell, in a speech Tuesday, stressed the importance of keeping the Fed within the bounds of its congressional mandate, which is to…
Target says inflation will hurt profitability for the rest of the year. Another disappointing earnings report from a leading U.S. retailer on Wednesday reignited fears that rising consumer prices and aggressive Federal Reserve policy could hurt economic growth, sparking a stock sell-off. The Dow Jones Industrial Average sank 1,164 points, or 3.57%, to 31,490 in…
Global markets rose on Monday as fairly dovish comments from U.S. Federal Reserve Chairman Jerome Powell helped reassure investors that the central bank is not planning to accelerate its interest rate increases next year. KEEPING SCORE: In Europe, Germany’s DAX was up 0.5 percent to 12,456 while the CAC 40 in France was 0.4 percent…