Federal Reserve Governor Chris Waller, an advocate for an immediate interest rate cut, said on Friday he would accept the job as head of the U.S. central bank if asked by President Donald Trump, but so far Trump has not contacted him about it. "In 2019 the president contacted me and said, 'Would you serve?' And I said yes," Waller told Bloomberg Television, referring to Trump's appointment of him to the Fed's Board of Governors. "If the president contacted me and said, 'I want you to serve,' I would do it. But he has not contacted me." Trump has launched a barrage of nearly daily criticism...
U.S. stocks edged lower Monday amid fears of an intensifying trade war after President Donald Trump slapped 30% tariffs on imports from Mexico and the European Union, continuing the volatile negotiations with his trading partners. At 09:35 ET (13:35 GMT), the Dow Jones Industrial Average dropped 80 points, or 0.2%, the S&P 500 index fell 10 points, or 0.1%, while the NASDAQ Composite slipped 12 points, or 0.1%. Trump imposes 30% tariffs on Mexico, EU Trump over the weekend released more letters outlining trade tariffs on major U.S. trading partners, this time imposing a 30% levy on...
President Donald Trump said the US would send more Patriot air defense batteries to Ukraine, apparently in a shift in stance toward Russia after its efforts to negotiate a ceasefire failed. "I haven't agreed on the numbers yet, but they'll be getting some," the president told reporters on Sunday on his way back to the White House. "We'll be sending Patriots, which they desperately need." The announcement served as the backdrop for what Trump described as his "major statement" against Russia on Monday, as Moscow escalated its airstrikes against Ukraine. The US president has grown...
US President Donald Trump has the authority to fire Federal Reserve Chairman Jerome Powell for good reason if there is evidence to support it, White House economic adviser Kevin Hassett said Sunday, and that the Fed "should be held fully accountable" for the cost overruns at its Washington headquarters. Hassett told ABC's "This Week" that Trump's decision to try to fire Powell over what the Trump administration calls a $700 million cost overrun "will depend largely on the answers we get to the questions Russ Vought has asked the Fed." Vought, the White House budget director, last week...
The European Union announced on Sunday that it will extend its suspension of countermeasures to U.S. tariffs until early August, aiming to pursue a negotiated settlement. This comes after President Trump on Saturday warned of a 30% tariff on most imports from the EU and Mexico starting August 1, pressuring countries to agree on new trade frameworks within weeks. White House economic adviser Kevin Hassett stressed, "the tariffs are real" unless better deals are made, saying Trump "sent these letters out to folks" to mark a clear stance. EU Commission President Ursula von der Leyen...
U.S. tariffs take center stage but China and the EU are quietly clashiThe U.S. tariff saga has stolen global spotlight from trade tensions between China and the European Union, which are now heating up. Accusations and investigations over each other's trade practices have long been a staple of EU-China trade relations, underpinned by concerns over how domestic economies are likely to be impacted by competing imports. In recent weeks, EU restrictions on Chinese companies taking part in public tenders for medical devices were quickly met with China imposing import curbs on such products....
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
It...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...