Investors cheered Federal Reserve Chair Jerome Powell's Jackson Hole address, which gave a green light to buy risky assets on the hope the central bank is ready to cut rates, but took his dovish message with a note of caution as they see a risk of stagflation ahead and worry markets are over-optimistic. In his final address as Fed chair at the Jackson Hole, Wyoming, economic symposium, Powell hinted at a September interest rate cut but stopped short of committing, striking a careful balance between mounting job-market risks and lingering inflation worries. The speech on Friday came amid...
U.S. President Donald Trump told President Volodymyr Zelenskiy on Monday that the United States would help guarantee Ukraine's security in any deal to end Russia's war there, though the extent of any promised assistance was not immediately clear. Trump made the pledge during an extraordinary summit at the White House, where he hosted Zelenskiy and a group of European allies two days after Trump met with Russian President Vladimir Putin in Alaska and months after a disastrous Oval office meeting where Trump and Vice President JD Vance publicly criticized the Ukrainian leader. A peace deal...
United States (US) President Donald Trump announced an ongoing desire to resolve the ongoing Russia-Ukraine war during a joint press conference with Ukrainian President Volodymyr Zelenskyy on Monday. This marks the second joint press conference between Trump and another head of state involved in the Ukrainian invasion, following Friday's joint presser with Trump and Russian President Vladimir Putin. Donald Trump's soft rhetoric on hopefully, maybe finding some semblance of a peace deal marks a sharp about-face from the language Trump used just before he met with Putin late last week....
U.S. President Donald Trump claimed on Monday that he "knows exactly" what he's doing regarding the Russia-Ukraine conflict, while criticizing those who question his approach. In a post on Truth Social, Trump asserted he had "settled 6 Wars in 6 months, one of them a possible Nuclear disaster," and said that the the ongoing war as "Sleepy Joe Biden's war, not mine," adding that he was "only here to stop it, not to prosecute it any further." He again insisted the conflict "would have NEVER happened" during his administration. The president dismissed critics, particularly mentioning the Wall...
US President Donald Trump urged Ukraine to give up on hopes of regaining annexed Crimea or joining NATO, as he prepared to host President Volodymyr Zelenskiy and European leaders in Washington on Monday to urge Kyiv to accept a peace deal with Russia. After rolling out the red carpet for Russian President Vladimir Putin in Alaska on Friday, Trump urged Ukraine to accept a deal to end Europe's deadliest war in 80 years, which has killed tens of thousands of people and displaced millions. Trump will meet first with Zelenskiy and then with the leaders of Britain, Germany, France, Italy,...
The Trump administration has expanded its 50% tariffs on steel and aluminum imports to cover hundreds of additional products. In a Federal Register notice on Friday, the Commerce Department's Bureau of Industry and Security said 407 new product codes were being added to the U.S. Harmonized Tariff Schedule, making them subject to duties on their steel and aluminum content. The notice clarified that non-steel and non-aluminum components will still face tariff rates already imposed on goods from certain countries. The expanded levies will take effect today, August 18. President Trump told...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...