Tariffs
Federal Reserve Chair Jerome Powell held firm against President Trump's pressure to lower interest rates, saying the central bank will wait to see how the economy is affected by the tariffs imposed by the White House. Speaking in Sintra, Portugal, Powell stated that the Fed's key
Tariffs
Federal Reserve Chair Jerome Powell suggested on Tuesday that President Donald Trump's trade policies, particularly tariffs on foreign goods, have contributed to the central bank's recent decision to keep interest rates steady. Powell made the comments during an appearance at the European Central Bank forum in
Chairpersons
Federal Reserve Chair Jerome H. Powell emphasized on Tuesday that decisions on interest rates will depend on incoming data, as the central bank faces intense pressure from President Trump to follow other central banks in cutting rates. Powell's caution comes as policymakers worldwide have diverged on the speed
Chairpersons
Jerome Powell, the current chairman of the Federal Reserve Board, is facing intense criticism and personal attacks from US President Donald Trump, who is urging the central bank to cut interest rates and is threatening to replace Powell with someone who will do so. Powell has indicated that while a
Tariffs
The US Federal Reserve is holding back on further rate cuts due to the impact of tariffs imposed by President Donald Trump, according to Chair Jerome Powell. Speaking at a European Central Bank forum in Portugal, Powell acknowledged that the tariffs had caused a significant increase in inflation forecasts, forcing
Tariffs
Federal Reserve Chairman Jerome Powell acknowledged on Tuesday that the central bank would have likely cut interest rates had it not been for President Donald Trump's sweeping tariffs on nearly every U.S. trading partner. The tariffs, implemented last April, led to an increase in inflation forecasts, causing
Chairpersons
President Trump has repeatedly attacked Jerome H. Powell, chair of the Federal Reserve, for resisting his demands for lower interest rates. Trump's criticism intensified on Monday, when he accused Powell of costing the country "a fortune" and demanded that he cut interest rates "by a
Chairpersons
Federal Reserve Chairman Jerome Powell cautioned on June 25 that stripping the central bank of its power to pay interest on reserves would be a long and difficult process, potentially leading to significant volatility in the financial system. Powell's remarks come as some lawmakers, including Sen. Ted Cruz,
Stock prices
European blue-chips ended Friday on a high note, shrugging off robust US data that may have reinforced the Federal Reserve's decision to hold interest rates. The FTSE 100 index closed up 0.7% to 8,798.91, while the FTSE 250 and AIM All-Share indices added 1.1%
Stock prices
Asian stocks took a breather on Thursday, as investors assessed the ceasefire between Israel and Iran and braced for US President Donald Trump's deadline on tariffs. The rally in Wall Street took a breather overnight, despite the Nikkei rising 0.9% to a four-month high. The US dollar
Stock prices
As the markets digested the news of a ceasefire between Israel and Iran, which eased geopolitical concerns and drove oil prices lower for the second straight day, US stocks ended the day in a mixed performance, with tech shares leading the charge to new highs. The Nasdaq rose 0.3%
Tariffs
As the trade tensions between the US and China escalate, Federal Reserve Chairman Jerome H. Powell informed Congress that the Fed will maintain its unchanged key fed funds rate until it gains a better understanding of President Trump's tariff policy's impact on consumer prices. Powell'
