ECONOMY & MARKETS

Fed Will Raise Rates More Aggressively If Needed, Powell Says

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Federal Reserve Chair Jerome Powell on Monday delivered his most muscular message to date on his battle with too-high inflation, saying the central bank must move "expeditiously" to raise rates and possibly "more aggressively" to keep an upward price spiral from getting entrenched.
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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 26, 2022.

Wall Street Slides After Powell's Hawkish Comments

Wall Street's main indexes fell on Monday as Federal Reserve Chair Jerome Powell's comments sparked bets of more aggressive interest rate hikes, adding to investor concerns as the Ukraine conflict rages on.
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 15, 2022.

European Shares Muted In Choppy Trade

European shares were subdued at the close on Monday after choppy trading, as the surge in energy stocks was offset by tinvestor concerns around fighting in Ukraine.
A view of the Phillips 66 Company's Los Angeles Refinery (foreground), which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, and storage tanks for refined petroleum products at the Kinder Morgan Carson Terminal (backgroun

Crude Jumps More Than 6% As EU Mulls Russian Oil Ban

Oil prices soared more than 6% on Monday, with global benchmark Brent crude climbing above $115 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities.
A view of the Phillips 66 Company's Los Angeles Refinery (foreground), which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, and storage tanks for refined petroleum products at the Kinder Morgan Carson Terminal (backgroun

Oil Prices Jump Over $4 As EU Considers Russian Oil Ban

Oil prices jumped more than $4 on Monday, with Brent crude climbing above $111 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities.
A view of the Phillips 66 Company's Los Angeles Refinery (foreground), which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, and storage tanks for refined petroleum products at the Kinder Morgan Carson Terminal (backgroun

Oil Prices Up More Than $6 As EU Considers Russian Oil Ban

Oil prices jumped by more than $6 on Monday, with Brent crude climbing above $114 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities.

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