12:19 PM EST, 03/06/2024 (MT Newswires) -- Wall Street's major market averages rose Wednesday afternoon as traders digested Federal Reserve Chair Jerome Powell's remarks on inflation and interest rates. Powell said the Federal Open Market Committee would like to gain more confidence that inflation is slowing sustainably toward the goal before carefully and thoughtfully contemplating rate cuts, a luxury that...

(Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Wednesday said the U.S. central bank is committed to finishing the job on attaining price stability, particularly with rising housing costs a key driver of higher inflation. This burden has fallen especially harshly on those least able to afford it, Daly said in remarks prepared for delivery at conference...

WASHINGTON (Reuters) - The soft landing, it appears, will not be televised. At least it won't be announced, declared, or advertised, Federal Reserve Chair Jerome Powell told members of the U.S. House Financial Services Committee in testimony that wove around direct mentions of the upcoming presidential election and efforts to pull him into disputes over fiscal spending, energy policy, and...

ORLANDO, Florida (Reuters) - Murmurs are growing that the Federal Reserve might resist cutting interest rates at all this year as corporate and household balance sheets look to have taken only a glancing hit from rate hikes to date. While nominal debt levels are high and 500 basis points of cumulative hikes may yet open pockets of distress, companies and...