U.S. Federal Reserve Chair, Jerome Powell and U.S. President Donald Trump. Annabelle Gordon | Kevin Lamarque | Reuters If President Donald Trump tries to fire Federal Reserve Chair Jerome Powell, it would almost certainly set off a courtroom battle that legal and policy experts say is bound to get messy, with uncertain impacts on the…
Trump frustrations with Fed Chair Powell coming to a head – CBS News Watch CBS News President Trump has relentlessly criticized Fed Chair Jerome Powell for not cutting interest rates. Tuesday night, he privately floated firing Powell. Nancy Cordes reports. Be the first to know Get browser notifications for breaking news, live events, and exclusive…
BANGKOK – Shares were mixed Wednesday in Europe and Asia after an update on U.S. inflation pulled most Wall Street stocks lower, though gains for Nvidia pushed the Nasdaq to another record. The report showed inflation in the United States accelerated to 2.7% last month from 2.4% in May. Economists said higher prices for clothes,…
U.S. Federal Reserve Chair Jerome Powell, left, and U.S. President Donald Trump. Nathan Howard | Jonathan Ernst | Reuters A new research note gaming out possible scenarios if President Donald Trump decides to fire Federal Reserve Chairman Jerome Powell warns that, regardless of what exactly happens next, “this would be a mess.” “We expect, as…
Britain’s annual rate of consumer price inflation unexpectedly rose to its highest in over a year at 3.6% in June, up from 3.4% in May, above economists’ expectations in a Reuters poll for the rate to remain unchanged, official figures showed on Wednesday. British inflation has risen steadily since touching a three-year low of 1.7%…
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…
The Shanghai Composite index was barely changed, holding at 3,510.18. (Reuters pic) HONG KONG: China stocks gave up most of their gains and closed flat today, weighed down by a drop in bank shares, while Hong Kong shares held on to gains after a Goldman upgrade. At market close, the Shanghai Composite index was barely…
By Elena Fabrichnaya ST PETERSBURG, Russia (Reuters) -Every 1% cut in central bank interest rates gives Russia’s VTB Bank an extra 20 billion roubles ($250 million) in net profit, CFO Dmitry Pyanov told Reuters, which benefits the government as the state-owned lender plans to distribute 50% of its profits via dividends – half of it…
A Bank of England policymaker has urged for three additional interest rate cuts in 2025, warning that the inflation outlook faces heightened risks from global trade difficulties. Alan Taylor, an external member of the Bank’s Monetary Policy Committee, cautioned that rates must fall more rapidly given the “deteriorating outlook” for the economy. Speaking at the…
The June jobs report is expected to show hiring slowed while the unemployment rate moved higher. The data’s release will come as investors closely watch for any further signs of slowing in the US labor market amid growing debate over when the Federal Reserve will cut interest rates next. Read more: How the Fed rate…