Treasury Secretary Scott Bessent expects a substantial drop in inflation during the first six months of 2026, according to statements made Tuesday on Fox Business. Bessent indicated that an announcement regarding President Trump's Federal Reserve chair selection would likely come in early January, with "one or two more Fed interviews" possibly taking place this week. When discussing potential candidates, Bessent noted that both Kevin Warsh and Kevin Hassett are "very very qualified" for the position. He rejected suggestions that Hassett would lack agency at the Federal Reserve, while...
The latest report on Durable Goods Orders has been released, revealing a decline of 2.8%. This metric measures the change in the total value of new orders for long-lasting manufactured goods, including transportation items. It serves as a crucial indicator of the health of the manufacturing sector and the overall economy. The actual decline of 2.8% is less severe than the forecasted drop of 3.8%. This smaller-than-expected decrease is a positive sign for the U.S. dollar (USD), as Durable Goods Orders are a key factor in the valuation of the currency. A higher than expected reading is...
Global investors were stunned on Tuesday (August 26th) after US President Donald Trump renewed his attacks on the Federal Reserve's independence, caught between concerns over the politicization of policy and market benefits. Trump's announcement that he was firing Fed Chair Lisa Cook caught markets by surprise, even though he had made it clear last week that Cook was a target and had been attacking Chairman Jerome Powell for months as part of his campaign to push the Fed to cut interest rates. "This is another rift in the fabric of the United States and its investability," said Kyle Rodda,...
President Donald Trump said the US has more leverage over China on trade than the other way around, citing airplane parts as a key item Washington has to counter Beijing's restrictions on rare earths. "We have much bigger and better cards than they do," he said Monday. "If I played those cards, that would destroy China. I'm not going to play those cards." China halted most shipments of rare-earth magnets to the US in April, weaponizing the nation's 90% grip on global production to squeeze American factories. Beijing agreed to normalize flows as part of a trade truce...
U.S. President Donald Trump said on Monday evening that Federal Reserve Governor Lisa Cook was to be removed from her post, effective immediately, alleging that she made false statements in two mortgage applications. Trump, in a letter released to social media, said that there is "sufficient cause" for Cooke's removal. "There is sufficient reason to believe (Cook) may have made false statements on one or more mortgage agreements," Trump said in a letter, alleging that Cook declared two separate properties as her primary residences in two separate mortgage agreements signed within weeks of...
U.S. President Donald Trump expressed his desire to meet with North Korean leader Kim Jong Un this year. Speaking to reporters on Monday before a meeting with South Korean President Lee Jae Myung at the White House, Trump highlighted his relationship with the North Korean leader. "I have a very good relationship. I understand them. I spent a lot of free time with them, talking about things that we probably aren't supposed to talk about. And you know, I just, I get along with him really well. I think he has a country of great potential, tremendous potential," Trump said. When asked...
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...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...