U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has now spoken with four of the 11 candidates on the administration's list of candidates to replace Fed chair Jerome Powell, whose term expires in May, the source said. Bloomberg first reported Bessent's meeting with Rieder, BlackRock's CIO of fixed income, and called him a rising contender for the post. The two met for two hours and discussed...
The U.S. and Russia are aiming to reach a deal to halt the war in Ukraine that would lock in Moscow's occupation of territory seized during its military invasion, Bloomberg News reported on Friday. U.S. and Russian officials are working towards an agreement on territories for a planned summit meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin as early as next week, the report said, citing unnamed people familiar with the matter. A White House official said the Bloomberg story was speculation. A Kremlin spokesperson did not respond to a request for...
Russian President Vladimir Putin spoke to the leaders of China, India and three ex-Soviet states on Friday in a flurry of calls to brief them on his contacts with the United States about the war in Ukraine. Putin met U.S. President Donald Trump's envoy Steve Witkoff in Moscow on Wednesday, after which the Kremlin said a summit between Putin and Trump could take place as early as next week. No venue, date or agenda have been announced. Trump, pressing for an end to the 3-1/2-year war, had set a deadline that expires on Friday for Russia to agree to peace or face new sanctions on Moscow and...
New Delhi has put on hold its plans to procure new U.S. weapons and aircraft, according to three Indian officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of the people said. Trump on Aug. 6 imposed an additional 25% tariff on Indian goods as punishment for Delhi's purchases...
The Federal Reserve is seen as more likely to slash interest rates at its upcoming policy meeting in September following President Donald Trump's nomination of a temporary governor of the central bank, according to analysts at JPMorgan Chase (NYSE:JPM). In a note following the announcement, the bank pulled forward its expectation for the next 25 basis point cut to September. It had previously predicted that such a reduction would come in at the Fed's gathering in December. "We continue to look for three like-sized cuts at the subsequent three meetings before pausing indefinitely," the...
US President Donald Trump said Thursday he will nominate Council of Economic Advisers Chairman Stephen Miran to fill the final months of a vacant seat on the Federal Reserve, as the White House seeks a permanent member for the central bank's board of governors and continues its search for a new Fed chairman. Miran has called for a complete overhaul of Fed governance and will take over from Fed Governor Adriana Kugler following her surprise resignation last week, as she returns to her tenured professorship at Georgetown University. The term expires January 31, 2026, and must be confirmed by...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
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...
Poland rejected on Friday a suggestion by Donald Trump that Russian drone incursions into its airspace could have been a mistake, a rare contradiction of the U.S. president from one of Washington's...