Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Federal Reserve Chairman Jerome Powell, in a letter on Thursday, rebutted criticism leveled at the central bank by a top White House official regarding the $2.5 billion renovation project. "We take seriously our responsibility to be good stewards of public resources as we fulfill the duties assigned by Congress on behalf of the American people," Powell wrote in the letter addressed to Russ Vought, director of the White House Office of Management and Budget. Powell's letter, which largely repeats information available on the Fed's new "Frequently Asked Questions" page about the construction...
Federal Reserve Chair Jerome Powell on Thursday responded to a Trump administration official's demands for information about cost overruns for a renovation project at the central bank's Washington headquarters campus, saying the project was large in scope and involved a number of safety upgrades and hazardous materials removals. "As explained on the Board's public website, we take seriously the responsibility to be good stewards of public resources as we fulfill the duties given to us by Congress on behalf of the American people," Powell wrote in his letter to Office of Management and...
The United States Commerce Department is set to impose preliminary anti-dumping duties of 93.5% on graphite imported from China after concluding the materials, which are a key component for batteries, had been unfairly subsidized. According to early reporting, the United States (US) could be poised to introduce a new steep import tariff on Chinese goods, this time centered around battery technology, specifically battery-grade graphite. Source: Investing.com
U.S. President Donald Trump's decision to ramp up arms shipments to Ukraine is a signal to Kyiv to abandon peace efforts, Russia said on Thursday, vowing it would not accept the "blackmail" of Washington's new sanctions ultimatum. Trump announced a toughened stance on Russia's war in Ukraine on Monday, setting a 50-day deadline for Moscow to reach a ceasefire or face sanctions. The U.S. also promised more missiles and other weaponry for Kyiv. Maria Zakharova, a spokeswoman for the Russian Foreign Ministry, condemned the move. "It is obvious that the Kyiv regime consistently perceives such...
Federal Reserve Governor Adriana Kugler said the US central bank should keep interest rates steady "for some time," citing accelerating inflation as tariffs begin to push up prices. "Given the stability on the employment side of our mandate, with the unemployment rate remaining at historic lows, near-term inflation expectations high, and goods inflation rising due to rising tariff pressures, I feel it is appropriate to keep our benchmark interest rate at its current level for some time," Kugler said Thursday in prepared remarks for an event in Washington hosted by the Housing Partnership...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...