President Donald Trump has launched an unprecedented and escalating attack on the Federal Reserve, which could backfire and lead to higher long-term borrowing costs in financial markets and the economy. For weeks, he has been harshly criticizing Federal Reserve Chair Jerome Powell for not slashing interest rates significantly to stimulate the economy. In Trump’s view, […]
Nvidia Corp., the world’s most valuable company by market capitalization, has made a lackluster forecast for its revenue this quarter, suggesting that growth is slowing after two years of astonishing boom in artificial intelligence spending. The company said in a statement on Wednesday that sales for the third fiscal quarter ending in October are expected […]
Ukrainian President Volodymyr Zelensky and his European allies arrived in Washington on Monday, eager to know what commitments Donald Trump made at his summit with Vladimir Putin and worried that he might force Kyiv to make unacceptable concessions. Trump will host Zelensky and several European leaders to discuss the potential peace agreement terms he discussed […]
Bond traders have been heavily betting that the Federal Reserve will cut interest rates, but this week their bet faces a crucial moment as Fed Chair Jerome Powell will have the opportunity to offer his views on the economy. Powell’s speech at the Federal Reserve’s annual meeting in Jackson Hole, Wyoming on Friday kicked off […]
US President Donald Trump will impose a 25% tariff on Indian exports starting from August 1. This move is expected to hit a range of industries, from electronics and generic drug manufacturers to jewelry and auto parts companies. Trump posted on Truth Social on Wednesday that India’s tariffs “rank among the highest in the world” […]
Microsoft’s quarterly earnings exceeded Wall Street expectations, sending its share price soaring in after-hours trading on Wednesday and putting it on track to become the second company in the world to reach a market value of $4 trillion. The shares of this tech giant rose as much as 9% in late trading in New York […]
Federal Reserve Governor Lisa Cook said she intends to remain at the central bank, disregarding President Donald Trump’s call for her to resign over mortgage fraud allegations. In a statement sent by email through a Fed spokesperson, Cook said: “I have no intention of being forced to resign over some of the issues raised in […]
Traders are making big bets on a specific option that hinges on the dovish Federal Reserve cutting interest rates by more than a quarter of a percentage point next month. Federal Reserve Chair Jerome Powell will deliver an important speech in Jackson Hole, Wyoming. These remarks may confirm or deny investors’ expectations for monetary easing […]
US President Donald Trump called Vladimir Putin on Monday after meeting with the Ukrainian president and European leaders at the White House and urged the Russian leader to start planning a summit with Volodymyr Zelensky. The proposal put forward by Trump is for a one-on-one summit between the leaders of Ukraine and Russia, followed by […]
US President Donald Trump said he would announce new Federal Reserve governors and new employment data statisticians in the coming days. Against the backdrop of a worrying global economic growth trajectory, these two appointments could affect his economic agenda. Trump made the remarks to reporters on Sunday as he was returning to the White House […]