US President Donald Trump said on Sunday that he will not remove Jerome Powell as Federal Reserve (Fed) Chairman before his term ends in May 2026. Trump reiterated his belief that the US central bank will have to lower interest rates at some point. "Yes, he's going to have to. And at some point, he will. He'd rather not because he's not a fan of me. You know, he just doesn't like me because I think he's very rigid," Trump said. (Newsmaker23) Source: FXstreet
U.S. President Donald Trump on Sunday said the U.S. was meeting with many countries, including China, on trade deals, and his main priority with China was to secure a fair trade deal. Trump told reporters aboard Air Force One that he had no plans to speak with Chinese President Xi Jinping this week, but U.S. officials were speaking with Chinese officials about a variety of different things. Asked if any trade agreements would be announced this week, Trump said that could "very well be" but gave no details. Trump's top officials have engaged in a flurry of meetings with trading partners...
The ISM Services PMI unexpectedly jumped to 51.6 in April 2025 from a nine-month low of 50.8 in March and below forecasts of 50.6. New orders (52.3 vs 50.4) and inventories (53.4 vs 50.3) grew at a faster pace and business activity remained in expansion territory (53.7 vs 55.9) while employment continued to contract although at a slower pace (49 vs 46.2). Source: Trading Economics