The Federal Reserve is expected to deliver its first interest-rate cut this year at its September 16-17 meeting, as it moves to counter a cooling labor market even as inflation remains above target. The anticipated quarter-point reduction may not satisfy President Donald Trump, who wants a bigger cut and has named his White House economic advisor, Stephen Miran, in time to be on the Fed Board at the September meeting, pending Senate confirmation. Here is a look at Fed officials' comments since their last policy meeting, sorting them under the labels "dove" and "hawk" as shorthand for their...
Gold prices rose more than 2% on Friday and posted their best week in six, as investors sought safe-haven assets amid new tariff threats from U.S. President Donald Trump and a weaker dollar. Spot gold rose 2.1% to $3,362.70 an ounce by 1:56 p.m. ET (1756 GMT). Bullion has gained 5.1% this week to hit its highest in more than two weeks. U.S. gold futures settled 2.1% higher at $3,365.8. "Trump has been on a rampage in the past 24 hours. Threatening 50% tariffs on the EU from June 1, attacking Apple and bashing Harvard have put stocks in a sour mood, which is good for gold," said Tai Wong,...
Oil prices rose on Friday as U.S. buyers stocked up ahead of the three-day Memorial Day weekend amid concerns over the latest round of nuclear talks between U.S. and Iranian negotiators. Brent crude futures rose 54 cents, or 0.84%, to settle at $64.98 a barrel by 1600 GMT. U.S. West Texas Intermediate crude was up 39 cents, or 0.64%, at $61.59. In earlier trading, oil futures had fallen 1% as they headed for their first weekly decline in three weeks after U.S. President Donald Trump on Friday recommended a 50% tariff on the European Union and expectations grew that OPEC+ would increase...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, fell further on Friday (5/23) and erased the previous day's recovery, trading near 99.20 at the time of writing. The fresh decline came after the House of Representatives passed US President Donald Trump's spending bill, which is now on its way to the Senate. The nonpartisan Congressional Budget Office said that the "big, beautiful bill" comes at a high price: an additional $3.8 trillion in debt to the federal government's $36.2 trillion debt over the next decade, according to Reuters. The...
Gold prices and gold stocks jumped on Friday as investors returned to the precious metal for the same reasons stocks fell on fears of new tariffs. Several gold miners flashed buy signals. Gold rose 1.4% to $3,340.80 an ounce, according to FactSet. It is up nearly 5% from a low of $3,187.20 on May 16 but is still about 2.5% below a high of $3,422.80 on May 6. Gold has pulled back from record highs this month as the tariff war eased. But investors have started turning to bullion as Treasury yields rose this week. On Friday, President Donald Trump's new tariff threats added to demand for...
Oil prices dropped by nearly 2% on Friday and were set for their first weekly decline in three weeks after U.S. President Donald Trump recommended a 50% tariff on the European Union. Brent crude futures fell $1.03, or 1.6%, to $63.41 a barrel by 1211 GMT. U.S. West Texas Intermediate crude futures were down $1.07, or 1.8%, at $60.13. Prices were already down for a fourth consecutive session, pressured by expectations of higher output from producer group OPEC+ in the coming months. President Trump said on Friday that he is recommending a straight 50% tariff on goods from the EU starting on...
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...