According to a statement by the Federal Reserve (Fed), Fed Chair Jerome Powell met with United States (US) President Donald Trump on Thursday, where the head of the Fed reiterated that the Fed's decisions on monetary policy are based on trackable data from the US economy. Donald Trump has been writhing on social media for months, desiring sharp rate cuts from the Fed as a low rate environment tends to make federal debt cheaper, something that the Trump administration's budget policies will add plenty of over the next ten years.
Fed highlights
Fed Chair Powell met with Trump at White House today.
Powell did not discuss expectations for monetary policy.
Powell said his policy will depend on incoming economic information.
Market reaction
Markets remain broadly nonplussed on Thursday after US federal courts knocked down President Trump's tariffs overnight. The US Dollar Index (DXY) is sharply lower, falling back below 100.00 and testing an intraday floor near 99.35.
Source : Fxstreet
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 Wh...
The Federal Reserve cut interest rates by a quarter percentage point on Wednesday and indicated it would continue lowering borrowing costs through the end of the year, as policymakers responded to signs of weakness in the labor market. The move...
US stocks closed mixed on Wednesday (September 18) as investors weighed the Federal Reserve's interest rate outlook following an anticipated 25 bps rate cut. The S&P 500 and Nasdaq 100 fell 0.1% and 0.3%, respectively, while the Dow Jones...
Oil prices weakened on Wednesday after data showing rising US diesel stockpiles fueled demand concerns and the US Federal Reserve cut interest rates as expected. Brent crude futures closed 52 cents, or 0.76%, lower at $68.22 a barrel, while US...
President Donald Trump said on Tuesday that the US and China have reached a deal on TikTok. The deal will transfer the assets of the ByteDance-owned...
The U.S. Federal Reserve holds its latest policy meeting this week with a historic challenge to its leadership pending in the courts and a rushed...
European stocks edged lower on Tuesday, with both the STOXX 50 and STOXX 600 slipping 0.2%, pausing after three straight sessions of gains. Traders...
US stocks closed higher on Monday (September 15), driven by gains in technology stocks after President Donald Trump indicated that U.S.-China trade...