President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he had “talked about the concept of firing” the head of the Federal Reserve. Such a move could help Wall Street get the lower interest rates it loves but would also risk a weakened Fed unable to make the unpopular…
Asian equity-index futures struggled for direction Thursday after the dollar weakened and US stocks rose in volatile trading after President Donald Trump played down the prospect he may soon fire Jerome Powell. Trump said he is “not planning on doing anything” to remove Powell, after a White House official said the president was likely to…
President Donald Trump’s feud with Federal Reserve Chair Jerome Powell continues to escalate, as the president openly discussed firing Powell in meetings with Republican lawmakers and in public remarks. The episode has sent tremors through financial markets and drawn pointed warnings from JPMorgan Chase CEO Jamie Dimon, a leading voice on Wall Street, about the…
President Trump on Wednesday tempered reports from earlier in the day that suggested he planned to fire Federal Reserve Chair Jerome Powell imminently, the latest twist in the ongoing saga regarding Trump’s displeasure with the central bank head. Speaking to reporters in the Oval Office late Wednesday morning, Trump said he is “not planning” to…
US stock futures struggled on Wednesday as Wall Street braced for another inflation checkup after the latest consumer price reading spurred traders to pare bets on Federal Reserve interest-rate cuts. Dow Jones Industrial Average futures (YM=F) traded flat after the blue-chip index lost over 400 points in the prior session, while S&P 500 futures (ES=F)…
June’s Consumer Price Index (CPI) report likely gives the Federal Reserve room to continue its wait-and-see approach to cutting rates amid uncertainty over how President Trump’s tariffs will impact inflation. On a “core” basis, which excludes volatile food and energy costs, CPI increased 0.2% from the previous month, slightly lower than economists’ expectations but ahead…
Stocks are back near record highs, but a flurry of trade announcements, deals, and extensions kept investors on their toes last week. In the week ahead, a busier economic and earnings calendar will offer them more to chew on. Inflation data out Tuesday morning will set the economic agenda for the week. The Consumer Price…
A top Trump administration official accused Federal Reserve Chair Jerome Powell of leading an “ostentatious” office renovation project that may be “violating the law” on Thursday, a new broadside against the central bank chief as President Trump tangles with him over interest rates. “The President is extremely troubled by your management of the Federal Reserve…
President Trump again said Jerome Powell should resign immediately, repeating a call he made last week, and noted that “it’s OK with me” if Congress investigates the Federal Reserve chairman. The comments came as the president took questions during a cabinet meeting in Washington on Tuesday, One reporter asked Trump about accusations made by some…
Stocks ended a holiday-shortened trading week at record highs as a better-than-expected June jobs report cooled fears of a broader slowdown brewing in the US economy. The S&P 500 (^GSPC) rose 1.7% to end the week at a record close of 6,279.35. The Nasdaq Composite (^IXIC) also popped about 1.6% and ended the week at…