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.

  • Acting Labor Secy. talks April jobs data and overtime pay rule

    April's jobs report data came out Friday morning, revealing an addition of 175,000 jobs added to the US economy below estimates of 240,000. While annual wage growth also slowed, these statistics are only a fraction of the story. The Biden administration has made several efforts to not only help companies create new jobs, but also improve the quality of those jobs for American workers. Yahoo Finance Reporter Jennifer Schonberger is joined by Acting Labor Secretary Julie Su to discuss the April jobs report and the steps the current administration is taking to aid the American worker, including new legislation to enable accessibility to overtime pay. Despite cooling job growth data month-over-month, Secretary Su assures April's print is still a "continuation of the strong, steady job growth that we have seen since President Biden came into office." Secretary Su elaborates on new rules involving overtime pay: "It's part of the promise of fair day's pay for a hard day's work, and also, historically, it was to make sure that working people didn't have to work too much, too long of hours. Our rule now restores that basic promise. So, when overtime rules were first put into place... some 60% of American workers were eligible for overtime based on threshold. In the last administration, that number dropped to the single digits. So we are restoring this to basically to making sure that millions more Americans who work over 40 hours in a week get the pay that they deserve. They're going to get more money in their pockets, which as we've talked about many times, is good for the economy, it's good for spending, it's good for working families." Secretary Su also weighs in on the obstacles preventing women from rejoining the US labor market full-time. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino

  • What April's slowing job growth means for the Fed

    April's weaker-than-expected jobs data painted a softer picture of the US labor market, potentially altering the narrative surrounding the Federal Reserve's monetary policy stance. While a robust job market has been the main point of the Fed's argument for maintaining a "higher for longer" interest rate environment, how could cooling employment data influence the central bank's future decisions? Yahoo Finance Fed reporter Jennifer Schonberger breaks down the details. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

  • Powell sheds dovish tone in Fed press conference

    Federal Reserve officials have voted again to hold interest rates steady. Yahoo Finance Federal Reserve reporter Jennifer Schonberger joins Market Domination to provide an in-depth analysis of Federal Reserve Chair Jerome Powell's press conference. Schonberger highlights a notable shift in Powell's previously dovish messaging, with the Fed official emphasizing more progress on the inflation front will be needed before embarking on a rate-cutting cycle. 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

  • Fed leaves rates unchanged, says inflation still too high to cut

    The Federal Reserve Open Market Committee is keeping its federal funds target range to 5.25% to 5.50%. In its statement, members say, "Inflation has eased over the past year but remains elevated. In recent months, there has been a lack of further progress toward the Committee's 2 percent inflation objective." The Committee also indicates that rate cuts aren't coming soon, saying that it "does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent." The decision was unanimous. Yahoo Finance Federal Reserve Reporter Jennifer Schonberger reports the breaking details. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Stephanie Mikulich.

  • Fed holds interest rates at 23-year high, citing 'lack of further progress' on inflation

    The Fed is expected to keep interest rates at a 23-year high Wednesday, but investors will be listening for any signs of how long they will have to wait before cuts can begin.

  • Fed: What higher interest rates mean for your money

    Chances are the Federal Reserve will likely hold interest rates where they are coming out of its May FOMC meeting today as Wall Street's hope for 2024 rate cuts fades lower. What does all this mean for the average American if rates stay higher for longer? Yahoo Finance Fed Jennifer Schonberger translates what elevated interest rates mean for consumers, especially what the Fed's rate environment means for mortgage rates, credit card rates, and other loans. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Luke Carberry Mogan.

  • Fed's third rate policy meeting: What to expect

    The Federal Reserve will wrap up its two-day meeting on Tuesday afternoon, followed by a press conference with Chair Jerome Powell to discuss the Fed's decision regarding interest rates. The federal funds rate currently sits at its highest level in two decades, with many on Wall Street expecting the central bank to hold rates steady. Yahoo Finance Reporter Jennifer Schonberger joins The Morning Brief to break down what investors need to know about the current state of interest rates and what to expect from the Fed. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino

  • Investors confused about the Fed's rate path look to Jay Powell for answers

    Investors are hoping Fed Chair Jerome Powell will provide some answers this week about everything from the unpredictable path of inflation to whether 2024 rate cuts are still a possibility.

  • New inflation reading reinforces Fed's higher-for-longer stance

    Another hot inflation reading released Friday reinforces that any near-term interest rate cuts are less likely, as the Federal Reserve shifts to a higher-for-longer stance.

  • 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.