US President Donald Trump visited the Federal Reserve (Fed) headquarters in Washington, D.C., on Friday (July 25th). President Trump recently turned his attention to criticizing the long-planned renovation of the Fed headquarters. Trump, who oversaw a comprehensive renovation of the White House interior, adding gold accents, claimed that the Fed renovations represent an unnecessary expense for U.S. taxpayers in an attempt to further narrow the gap between the executive branch's ability to control the U.S. central bank, which is currently beyond the President's broad reach. During Trump's...
President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical buildings at its headquarters and pressing the case for lower interest rates. Trump, who called Powell a "numbskull" earlier this week for failing to heed the White House's demand for a large reduction in borrowing costs, wrapped up his visit to the Fed's $2.5 billion building project in Washington by saying he did not intend to fire Powell, as he has frequently suggested he would. "To do so is...
UK retail sales rose 0.9% month-over-month in June 2025, rebounding from a revised 2.8% drop in the previous month but missing market expectations of a 1.2% gain. It marked the fourth increase so far this year. Food store sales volumes gained 0.7%, reversing a 5.4% decline in May, supported by improved supermarket sales, particularly beverages, amid warm weather. Automotive fuel sales jumped 2.8%, the largest monthly rise since May 2024, also helped by favorable weather. Online sales (non-store retailers) rose 1.7%, reaching their highest level since February 2022. Meanwhile, non-food...