Powell says the Fed is ‘not trying to provoke’ a recession, but it is ‘certainly a possibility.’

Jerome H. Powell, the Federal Reserve chair, appeared before the Senate Banking Committee on Wednesday.Haiyun Jiang/The New York TimesJerome H. Powell, the chair of the Federal Reserve, said that the…

Continue ReadingPowell says the Fed is ‘not trying to provoke’ a recession, but it is ‘certainly a possibility.’

European Central Bank says it will raise interest rates for the first time in 11 years in July.

Christine Lagarde, president of the European Central Bank, during a news conference in Amsterdam on Thursday.Peter Dejong/Associated PressThe European Central Bank entered into a new era on Thursday, as policymakers…

Continue ReadingEuropean Central Bank says it will raise interest rates for the first time in 11 years in July.