Federal Reserve Bank of New York President John Williams said Thursday that he sees lower risks to inflation as tariffs have driven up price pressures less than expected. "I see on the margin...a reduction of some of the upside risks to inflation" from tariffs, Williams told reporters after speaking at the Economic Club of New York. He noted this reduction comes alongside greater clarity about future economic policy. Williams acknowledged that President Donald Trump's import tax increases are "definitely" affecting price pressures, but added that in terms of tariff pass-throughs to higher...
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...
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 White House ally. "I'll fire her if she doesn't resign," Trump told reporters on Friday. The comments intensify Trump's pressure campaign against the US central bank, which he has bashed for months over its decision to hold interest rates steady. He's attacked Fed Chair Jerome Powell over monetary policy decisions as well as cost overruns for a major renovation of the...
Fed Chairman Jerome Powell assessed that the US economy remains resilient: the job market is near its maximum, inflation has fallen well from its peak, but the balance of risks is shifting. In his speech on "Monetary Policy and the Fed's Framework Review" in Jackson Hole, he stated that current policy remains restrictive and that changes in the outlook could require policy adjustments. Powell outlined new challenges this year: higher tariffs in many trading partners, a slowdown in immigration that is depressing labor force growth, and changes in fiscal and regulatory policies. He emphasized...
US Federal Reserve (Fed) Chairman Jerome Powell is scheduled to deliver a speech titled "Economic Outlook and Framework Review" at the annual Jackson Hole Economic Symposium on Friday at 14:00 GMT. Market participants will be closely watching Powell's speech for new clues on the direction of monetary policy, particularly regarding the timing of the Fed's first interest rate cut this year and the potential scope and timing of subsequent rate cuts. Powell's remarks are expected to roil markets, triggering intense volatility around the US dollar (USD), as the world's most influential central...
Fed Chair Powell's looming speech at the annual Jackson Hole symposium will be the next catalyst for the U.S. dollar moves, says Joe Capurso, an economist at Commonwealth Bank of Australia. Still, don't expect Powell to give a clear signal in either direction. He is likely to keep his options open and wait for more data, Capurso says. But if Powell signals openness to an interest rate cut, expect the market to more fully price a September cut and the USD to fall modestly. A September cut is currently priced at about 70% which sets a high bar for Powell to 'out‑dove' the market, he...
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...