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...
Republicans who control the U.S. House of Representatives kicked off public debate on major pillars of President Donald Trump's budget legislation on Tuesday, weighing choices about tax policies and spending on popular social safety-net programs that may strain their narrow majority. The plan, which would extend tax cuts passed during Trump's first term, could add to the nation's $36.2 trillion in debt over the next decade. Congress' bipartisan Joint Tax Committee estimates the tax cuts would cost $3.72 trillion. "Together with a one big, beautiful bill, we can ignite a second Trump...
European Central Bank (ECB) policymaker Francois Villeroy de Galhau indicated in a recent interview that there may be room for another rate cut by the ECB by the summer. The discussion took place with the EBRA newspaper group on Tuesday. Villeroy, who also holds the position of head of the Bank of France, shared his insights on potential inflation trends in the United States and Europe. He suggested that the U.S. might experience a surge in inflation due to the tariffs imposed by President Donald Trump's administration. However, he expressed confidence that Europe would remain unaffected by...
President Donald Trump cited a softer-than-expected inflation report to again pressure Federal Reserve Chair Jerome Powell to lower interest rates. "No Inflation, and Prices of Gasoline, Energy, Groceries, and practically everything else, are DOWN!!!" Trump wrote in a social media post. "THE FED must lower the RATE, like Europe and China have done. What is wrong with Too Late Powell?" Trump added that the Fed's strategy was "not fair to America, which is ready to blossom." "Just let it all happen, it will be a beautiful thing!" he continued. The consumer price index...
President Donald Trump said he'll lift US sanctions against Syria following the toppling of former President Bashar al-Assad, a boost to the war-ravaged country's ambitions of rejoining the international community. "I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness," Trump said in an address to a Saudi-US investment summit in Riyadh on Tuesday. "It's their time to shine." The US leader will go on to briefly meet Syria's new president, Ahmed al-Sharaa, in the Saudi capital on Wednesday, a White House...
United States (US) President Donald Trump hit the airwaves with a fresh round of commentary on a wide range of subjects on Tuesday. President Trump reiterated his intentions to treat trade balance as an imbalance that needs to be rectified in order for a country to reach maximum profitability, and also repeated his intentions to obtain questionably steep 'investment agreements' with individual companies. How these corporations are meant to invest directly in the US, outside of expanding regular operations that market share may not generate profitability from, remains unclear. Donald Trump...
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...