US news is today heavily domianted by politics, tariffs and stock markets. The US President has clarified that he has no plans to fire Fed boss Jermone Powell despite complaining about his performance via Twitter/X.
The President has also hinted he may reverse his trade tariffs on China as the IMF downgrades the global economy forecasts and warns of a US recession.
US stock prices took a hit after the Federal Reserve announced its third consecutive interest rate cut, but its economic projections indicated a slower pace of cuts in the coming year.
Asia-Pacific markets were mixed Wednesday, after major Wall Street benchmarks declined ahead of key inflation data that could influence the Federal Reserve’s interest rate decision.…
Jerome Powell, the head of the US Federal Reserve, dismissed speculation that former President Donald Trump could remove him from his position when he returns to office in January 2025. Speaking at a press conference after the Fed lowered its key interest rate to 4.5%-4.75%, Powell said he would not step down if asked, adding that the law protects his role from presidential interference.
US hints at September interest rate cut The US Federal Reserve may lower borrowing costs for the first time in over four years, as inflation…
This means the Federal Reserve’s main rate stayed at its highest level in over 20 years, between 5.25% and 5.5%, where it’s been since last July.
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