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 UK's (UK) annual Consumer Price Index (CPI) rose by 3.4% in May after rising 3.5% in April, data released by the Office for National Statistics (ONS) showed on Wednesday. Markets had expected a 3.4% growth in the reported period. The reading was still short of the Bank of England's (BoE) target of 2%. Core CPI (excluding volatile food and energy) rose 3.5% year-on-year (YoY) in the same period, compared with a 3.8% acceleration in April, but missed the anticipated 3.6%.(alg) Source: FXstreet
US President Donald Trump claimed the US now has total and complete control of the skies over Iran via his social media platform, Truth Social. We now have total and complete control of the skies over Iran. Iran has great sky trackers and other defense equipment, and many, but nothing compares to the American-made, designed, and manufactured "stuff." Nobody does it better than the good ol' USA. We know exactly where the so-called "Supreme Leader" is hiding. He's an easy target, but safe there – We're not going to take him out (kill him!), at least not right now. But we don't want missiles...
Federal Reserve officials get to voice their outlook this week on the future path of interest rates along with the impact that tariffs and Middle East turmoil will have on the economy. While any immediate movement on interest rates seems improbable, the policy meeting, which concludes Wednesday, will feature important signals that still could move markets. Among the biggest things to watch will be whether Federal Open Market Committee members stick with their previous forecast of two rate cuts this year, how they see inflation trending, and any reaction from Chair Jerome Powell to what has...
President Donald Trump on Tuesday warned Iran's leader, Ayatollah Ali Khamenei, that he is an "easy target" and "our patience is wearing thin" before demanding Tehran surrender in its escalating conflict with Israel. "We know exactly where the so-called ‘Supreme Leader' is hiding," Trump wrote on Truth Social. "He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now," he wrote after declaring "total control" over Iran's airspace. "But we don't want missiles shot at civilians, or American soldiers. Our patience is wearing thin." Trump in a...
U.S. President Donald Trump said on Tuesday he would likely extend a deadline for China-based ByteDance to divest the U.S. assets of short video app TikTok.The president said in May he would extend the June 19 deadline after the app helped him with young voters in the 2024 election. His comments to reporters on Air Force One on Tuesday reiterated that sentiment. "Probably, yeah," Trump said when asked about extending the deadline. "Probably have to get China approval but I think we'll get it. I think President Xi will ultimately approve it." Source: Investing.com
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...