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.
Donald Trump’s ongoing spat with the Federal Reserve boss caused the markets to panic this week, with a massive sell off and drop in the dollar. Things have settled once again, but the IMF has slashed the global growth forecast – with the US given the biggest downgrade among advanced economies.
The ongoing choas from Trump’s tariffs are back on the UK front pages as the IMF cuts global growth rates and confirms the UK is set to be amongst the hardest countries hit. The US has received the biggest downgrade amongst advanced economies as anxiety drives gold up amid Trump’s constant attacks on the Federal Reserve boss Jay Powell. There are concerns over how independent the central bank is and general worries over the state of the US economy.
Wednesday’s headlines reflect the busyness of the world with stories from Europe, the US and the Middle East flooding into the UK headlines.
A little closer to home and there’s some rumblings about the prime minister saying trans women are not real women – a u-turn after the Supreme Court ruled that legally the term “woman” means a biological woman. The right wing are suggesting the prime minister should issue an apology after only coming to this conclusion after the ruling, the left wing are disappointed the prime minister has not stood by his original belief that trans women are women.
The IMF has significantly downgraded the UK’s growth forecast for this year to just 1.1%, citing the adverse impacts of the global trade war and rising inflation.
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