Briefings

Week InReview: November 10, 2023

Powell vows no hesitation.

Protesters interrupt a speech by Jerome Powell, chair of the US Federal Reserve, left, during the 24th Jacques Polak Annual Research Conference in Washington, DC on Thursday, Nov. 9, 2023. Photo: Ting Shen | Bloomberg

Federal Reserve Chair Jerome Powell said the US central bank won't hesitate to tighten policy further if appropriate and reiterated that the central bank isn't fully confident it has tightened enough to return inflation to 2%. The central bank will move carefully, he told an audience at the International Monetary Fund in Washington, to avoid the risk of overtightening. Shortly after he began to speak, Powell was ushered from the room as a group of environmental protesters jumped onto the stage with a banner. 

 

Stocks fizzle: The rally in stocks sputtered on Thursday as Europe's Stoxx 600 index slipped 0.3% and US equity futures traded flat. Oil hovered near a three-month low after plunging almost 7% over the previous two sessions. Yields on 10-year Treasuries held below 4.5%.


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