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...
US President Donald Trump began a call with Russian leader Vladimir Putin on Thursday, the latest step in his efforts to broker an end to the war in Ukraine. The call was underway, according to Russia's state-run Tass news service, which said the Kremlin would brief reporters after it was completed. Trump had announced the call earlier on social media, writing: "Will speak with President Putin of Russia at 10:00 a.m. Thank you!" The president is also likely to call his Ukrainian counterpart Volodymyr Zelenskiy on Friday, according to a person familiar with the matter. The call follows the...
The ISM Services PMI rose to 50.8 in June 2025 from 49.9 in May, slightly above forecasts of 50.5. The reading showed economic activity in the services sector increased in June after just one month of contraction, although slow growth and economic uncertainty were frequently referenced by firms. A rebound was seen in business activity/production (54.2 vs 50), new orders (51.3 vs 46.4), inventories (52.7 vs 49.7) and new export orders (51.1 vs 48.5). Meanwhile, price pressure eased a bit (67.5 vs 68.7) although price increases impacting costs of operations were mentioned more frequently this...
Initial jobless claims in the US eased by 4,000 from the previous week to 233,000 on the period ending June 28th, less than market expectations of 240,000. While the figure reflected the softest increase in unemployment in six weeks, it remained firmly above averages from earlier in the year to reflect the gradual softening of the US labor market, albeit still robust in a historical standard. In turn, outstanding unemployment claims were unchanged at 1,964,000, the highest since late 2021, and above expectations of 1,960,000 to maintain the view that the unemployed are undergoing more...
Euro zone policymakers cut rates last month to prevent an unwarrented tightening of monetary conditions and in the face of elevated uncertainty around trade, the accounts of their June 3-5 meeting showed on Thursday. The ECB cut interest rates for the eighth time in a year last month but signalled a pause in any further easing as inflation is already back at target and erratic U.S. trade policy creates too much uncertainty. "Members underlined that the outlook for the global economy remained highly uncertain," ," the ECB said. "Elevated trade uncertainty was likely to prevail for some time...
Bill Pulte, who heads the Federal Housing Finance Agency, is asking Congress to investigate Federal Reserve Chairman Jerome Powell, alleging that his recent testimony to the Senate about the central bank's plans to renovate its headquarters was "deceptive." "I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive testimony in the Senate, which was enough to be removed 'for some reason,'" Pulte said Wednesday in a post on the social media platform X, alleging that Powell made inaccurate statements without providing evidence. Pulte has stepped up his...
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.
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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...