Jennifer Schonberger

    Senior Reporter

    Jennifer Schonberger has been a financial journalist for over 14 years covering markets, the economy and investing. At Yahoo Finance she covers the Federal Reserve, cryptocurrencies, and the intersection of business and politics. Prior to Yahoo, Jennifer covered the Federal Reserve and the economy for the Fox Business Network. She also specialized in covering investing for Kiplinger’s Personal Finance and The Motley Fool.

  • How Jay Powell and the Fed pivoted back to higher for longer

    Fed Chair Jay Powell and other Fed officials struck a more hawkish stance this past week, setting off a new debate across Wall Street about how the rest of 2024 could play out.

  • Mortgage rates touch 4-month high as Fed weighs rate options

    Mortgage rates have climbed to a four-month high, surpassing the 7% threshold. As the Federal Reserve maintains a higher-for-longer interest rate stance with inflation data suggesting no imminent easing, Yahoo Finance Fed Reporter Jennifer Schonberger dissects the ramifications for the housing market. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith

  • Fed's Goolsbee: Progress in inflation fight has 'stalled'

    Chicago Fed President Austan Goolsbee says the progress the central bank had been making in bringing down inflation has "stalled." As a result, he thinks it "makes sense" to wait on rate cuts. In remarks prepared for a speech before the Society for Advancing Business Editing and Writing's annual conference, Goolsbee says "So far in 2024, that progress on inflation has stalled. You never want to make too much of any one month’s data, especially inflation, which is a noisy series, but after three months of this, it can’t be dismissed." Goolsbee's pivot is notable given that he has been one of the more dovish members of the Federal Reserve. Yahoo Finance Federal Reserve Reporter Jennifer Schonberger reports the details. For more expert insight and the latest market action, click here to watch this full episode. This post was written by Stephanie Mikulich.

  • Fed's Goolsbee: 'It makes sense to wait' before cutting rates

    One of the Fed's more dovish officials said Friday that 'progress on inflation has stalled' and that 'it makes sense to wait' before cutting interest rates.

  • New stablecoin bill introduced: Sen. Lummis on why it's needed

    A new bipartisan bill has been introduced in the US Congress, aiming to create a regulatory framework for stablecoins. The bill, co-sponsored by Senator Cynthia Lummis (R-WY) and Senator Kirsten Gillibrand (D-NY), was designed to address the growing concerns around regulation of these digital assets. In an interview with Yahoo Finance's Jennifer Schonberger, Senator Lummis provides insights into the key provisions of the bill. She notes that the legislation "requires 100% asset-backed stablecoins," effectively prohibiting the use of algorithmic stablecoins. The assets backing the stablecoins can range from hard currencies to US Treasurys, but they must be "pegged to the U.S. dollar." The goal of this requirement, according to Lummis, is to protect consumers in the event of a bank failure or other financial disruption. However, she acknowledges that if a non-bank entity were to experience a failure, the bill mandates that the stablecoin backing must be held by "a separate custodian," ensuring that the funds are not used for other purposes and are "walled off" from the issuer's "non-stablecoin activities." Lummis emphasizes that this structure is designed to provide companies with "enough flexibility to innovate" while still safeguarding consumers. She notes that the "sweet spot" the bill aims to strike is one that allows for innovation in the stablecoin space while implementing safety measures to mitigate risks and protect users. By introducing this bipartisan legislation, Lummis explains the lawmakers hope to establish a clear regulatory framework for stablecoins in the United States, addressing the concerns around oversight that have arisen as the digital asset ecosystem continues to evolve. To see Yahoo Finance's explanation of stablecoins, click here. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith

  • Fed's Williams and Bostic don't see any 'urgency' or 'mad-dash hurry' to cut rates

    Two Fed policymakers underscored Thursday that they are not in a hurry to begin lowering rates as central bank officials continue to dial back the timing of any easing in monetary policy.

  • US growth beat 'most optimistic expectations': IMF's Gopinath

    The IMF expects global economic growth to remain resilient in 2024, forecasting an expansion of 3.2%. IMF First Deputy Managing Director Gita Gopinath joins Yahoo Finance's Jennifer Schonberger to discuss the key global market dynamics shaping this outlook. Gopinath explains that growth has been slowing since the early 2000s, driven by three primary factors: weakening productivity growth, aging demographics and declining working-age populations, and decreasing overall investments. She noted that while AI "has the potential" to strengthen productivity growth, it is still "too early to say that that's the solution." On the inflation front, Gopinath highlights the risks posed by commodities like oil, given heightened tensions in the Middle East following Iran's attack on Israel. However, she believes the situation has not yet reached a point "where we could see oil prices shooting up," noting that there are "alternate sources of supply that can make up for it." Gopinath also observes that European inflation "has been coming down really well," while US inflation "has been holding up a little more stubbornly;" she predicts the ECB could cut rates in June, but the Fed may wait. Regarding the US economy, Gopinath acknowledged that growth "has exceeded anybody's most optimistic expectations." She expects inflation to continue to decline gradually but cautions that the "last mile" to the target will be "bumpy," necessitating patience from the Fed. Finally, Gopinath commented on China, noting that the economy is showing signs of resilience, with first quarter GDP growth at 5%. However, she notes that the nation has "important issues to deal with" in its property sector and overall consumer confidence. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith

  • Powell says taking 'longer than expected' for inflation to reach Fed's 2% target

    Fed Chair Jerome Powell signaled that it will likely take longer to cut rates, saying it will take 'longer than expected' to achieve the confidence needed to get inflation down to the central bank’s 2% target.

  • IMF upgrades global growth forecast, sees economic resilience

    According to the International Monetary Fund's (IMF) new World Economic Outlook report, global economic growth will remain resilient. Yahoo Finance reporter Jennifer Schonberger joins anchor Madison Mills to break down Tuesday's report. Schonberger explains that the IMF sees the global economy expanding by 3.2% this year, on par with the growth seen in the previous year. She adds that the chances of a global recession this year are pegged at just 10%. Global inflation is also expected to continue to decline, driven by a drop in core inflation, elevated interest rates, weakening job markets, and relief from higher energy prices. Schonberger notes, however, that this forecast was made before Iran's air attack on Israel. The IMF also sees inflation driving expectations for global central banks to begin cutting rates in the second half of the year, with the international institution predicting the Fed will cut rate three times in 2024 by the fourth quarter, Schonberger explains. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This article was written by Gabriel Roy.

  • IMF expects central banks to cut rates in second half of 2024 as inflation falls

    Global central banks will begin cutting interest rates in the second half of the year as inflation declines, according to a new outlook from the IMF.

  • 2 Fed officials urge patience before any interest rate cuts

    Kansas City Fed president Jeff Schmid and San Francisco Fed president Mary Daly said they would employ patience and caution before approving any rate cuts.

  • ECB holds interest rates steady: What this means for the Fed

    The European Central Bank (ECB) is holding interest rates at their current level for its fifth consecutive meeting. State-side, all eyes are still drawn on the Federal Reserve and when officials will prescribe their first dose of interest rate cuts as the US struggles with protracted inflation. Yahoo Finance Senior Reporter Jennifer Schonberger joins the Morning Brief to discuss the economic cues that global central banks, such as the ECB and the Fed, are looking to. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

  • 2 Fed officials offer reassurances about cuts in 2024 despite 'bumps' and 'uncertainties'

    New York Fed president John Williams and Boston Fed president Susan Collins said they still expect cuts in 2024 despite some hot inflation readings.

  • Another hot inflation reading fans fears Fed will push back rate cuts

    Another hotter-than-expected inflation reading is fueling investor fears that the Federal Reserve will have to push back the number and timing of interest rate cuts this year.

  • Fed's Bostic: Inflation may come down at a slow pace in 2024

    The Federal Reserve has stressed that it is waiting for inflation data to provide enough confidence that inflation is returning to the 2% target before initiating a rate cutting cycle. As markets have priced in three potential rate cuts, with the first predicted to arrive in June, Atlanta Federal Reserve President Raphael Bostic joins Yahoo Finance Fed reporter Jennifer Schonberger to share his perspective on the rate cut outlook and the economic landscape. Bostic describes the US economy as "incredibly resilient," expressing particular gratitude for strength in the labor market. However, he acknowledges the possibility of an economic slowdown, though not as much as he had originally anticipated in January. The Atlanta Fed president points to "volatility" in labor data, highlighting certain factors he is closely monitoring. Bostic will continue to analyze job growth on a sector-level basis, having observed disproportionate growth in government and healthcare. These sectors are "playing catch-up" from pandemic-induced lags, he says. Bostic also commented on the improving balance between labor supply and demand. On the inflation front, Bostic expects "bumpiness" on the path to the 2% target in 2024. He cites evidence of inflation "stalling out a bit" in the first quarter and anticipates the services sector to remain "persistently higher" in terms of price pressures. Bostic's current rate outlook remains at one cut, but he acknowledges two potential scenarios that could solidify or alter this view. If the economy accelerates, he will continue the "more patient" approach to rate cuts, but if the economy slows, he would be inclined to "pull in" his rate cut outlook to support the economy sooner. However, given current economic resilience, he suggests that "rate cuts may even have to move further out." Bostic emphasizes that his outlook is not solely influenced by top-line inflation numbers, but by the broader distribution of price increases across various sectors. He studies the "totality of those measures" to determine whether inflation is normalizing towards the 2% target before feeling confident about initiating a rate cutting cycle. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. Editor's note: This article was written by Angel Smith

  • Fed's Bostic still expects 1 rate cut in 2024 but doesn’t rule out 0 or 2

    Atlanta Fed president Raphael Bostic still expects one rate in 2024, but is not ruling out the possibility of two or zero depending on the direction of the US economy and inflation.

  • Jay Powell really wants Americans to know he is not thinking about politics

    The Fed chairman went out of his way to make it clear this week that the Fed is free from personal or political bias as he continues to navigate a red-hot political year.

  • The Fed’s decision on rates isn’t getting any easier

    Investors are increasingly uncertain about what the Federal Reserve plans to do this year as they absorb hot economic data and mixed commentary from some central bank officials.

  • Immigration a key component to US jobs growth: Acting Labor Secy.

    The US Bureau of Labor Statistics reported 303,000 jobs were added to the US economy in the month of March, topping estimates calling for only 214,000 non-farm payroll jobs. Average hourly wages (4.1%) and the unemployment rate (3.8%) both came in line with estimates. Acting US Secretary of Labor Julie Su joins Yahoo Finance's Jennifer Schonberger following Friday morning's jobs report to weigh in on the print, calling it "exactly what President Biden's vision for the country is" as unemployment consistently remains under 4% for the longest stretch in decades. Secretary Su specifically attributes recent immigration statistics to sustainable job growth amid inflation: "I would say that this is an example of how a strong economy overall is just good for everybody. This labor market has pulled in everyone. And so we're seeing certainly growth for immigrants... We're a nation in which growth has often included the contributions of immigrants. But it's not just for the immigrant community. Just like the sectors in which we have seen growth are broad-based, the benefits across different communities have also been really broad-based." Additionally, women have been reported to be reentering the European and US labor forces at a record rate, surging past pre-pandemic levels. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Luke Carberry Mogan.

  • Janet Yellen addresses overcapacity issues on trip to China

    Beginning the first leg of her trip to China, US Secretary of the Treasury Janet Yellen is meeting with Chinese officials to strengthen the United States' economic relationship with the nation while also addressing manufacturing overcapacity concerns. Yahoo Finance Reporter Jennifer Schonberger breaks down the latest news out of Yellen's meeting with China's economic officials. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Luke Carberry Mogan.