Finance

Fed Chair Jerome Powell speaks from Jackson Hole conference

Published

4 months ago

August 23, 2024

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Federal Reserve Chair Jerome Powell delivers his keynote speech Friday morning at the central bank’s annual retreat in Jackson Hole, Wyoming.

Fed Chair Powell indicates interest rate cuts ahead — ‘The time has come for policy to adjust’

Powell was widely expected to chart a path forward that includes interest rate reductions as the pace of inflation eases and concerns increase about the durability of the U.S. economic expansion.

In previous years, he has used Jackson Hole to lay out significant policy initiatives and intentions. Markets widely expect the Fed to begin lowering rates in September and continue with a series of cuts through at least 2025.

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Finance

RIVN, BUD, F and more

Published

1 day ago

January 3, 2025

Business Finance News

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Published

2 days ago

January 3, 2025

Business Finance News

Finance

Ken Griffin’s flagship hedge fund at Citadel climbs 15.1% in 2024

Published

2 days ago

January 2, 2025

Business Finance News

Ken Griffin, founder and CEO of Citadel, speaks during The New York Times’ annual DealBook Summit in New York City, Dec. 4, 2024.

Michael M. Santiago | Getty Images

Billionaire investor Ken Griffin’s handful of hedge funds at Citadel all posted double-digit returns in 2024, led by its tactical trading strategy.

Citadel’s multistrategy Wellington fund, its largest, finished the year up 15.1%, according to a person familiar with the returns. All five strategies used in the flagship fund — commodities, equities, fixed income, credit and quantitative — were positive for the year, the person said.

The Miami-based firm’s tactical trading fund was the standout performer with a 22.3% return for 2024, the person said. Citadel’s equity fund returned roughly 18%, while its global fixed income strategy gained 9.7% last year.

Citadel declined to comment. The hedge fund giant had $66 billion in assets under management as of December.

The stock market just closed out a banner year with the S&P 500 surging 23.3%, building on a gain of 24.2% in 2023. The two-year gain of 53% is the best since the nearly 66% rally in 1997 and 1998.

Griffin recently criticized the steep tariffs President-elect Donald Trump has vowed to implement, saying crony capitalism could be a consequence.

The CEO also said he’s not focused on taking Citadel Securities public in the foreseeable future. The securities firm is a Miami-based market maker founded by the 56-year-old Florida native in 2002.