Jerome Powell

Trump, who frequently criticized Powell and the Fed during his first term, again is testing those limits, saying last week that he'll "demand" immediate interest-rate cuts

The price of 22-carat gold also rose Rs 10, with ten grams of the yellow metal selling at Rs 75,960

Trump's comments came hours after he delivered a video address to the world's elite at the World Economic Forum in Davos, Switzerland, where he called for an immediate drop in interest rates

Mr Trump's antagonism towards Mr Powell is baffling, given that Mr Powell has been doing an excellent job

Dow Jones: The Dow Jones Industrial Average slid 1,123.03 points, or 2.58 per cent, to 42,326.87 on Wednesday - declining for a 10th day and clocking its longest losing streak since 1974

The Fed cut rates as expected on Wednesday amid a busy year-end run of central bank meetings from Ottawa and Frankfurt to Tokyo and London

Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards. The Fed is set to announce a quarter-point cut to its benchmark rate, from about 4.6% to roughly 4.3%. The latest move would follow a larger-than-usual half-point rate cut in September and a quarter-point reduction in November. Wednesday's meeting, though, could mark a shift to a new phase in the Fed's policies: Instead of a rate cut at each meeting, the Fed is more likely to cut at every other meeting at most. The central bank's policymakers may signal that they expect to reduce their key rate just two or three times in 2025, rather than the four rate cuts they had envisioned three months ago. So far, the Fed has explained its moves by describing them as a recalibration of the ultra-high rates that were ...

South Korean lawmakers urged President Yoon Suk Yeol to resign or face impeachment after he briefly declared and then reversed martial law, sparking a political crisis

A rally in the dollar and the rise in US bond yields following Donald Trump's victory in the US election has weighed on Asian currencies over the last two weeks, including the rupee

A key pillar of support for the dollar has been the expectation that higher inflation under Trump will mean the Federal Reserve has less room to cut interest rates

US central bankers began lowering borrowing costs in September with an aggressive half-percentage-point cut, and then lowered the policy rate again by a quarter point last week

Powell's term as chair expires in May 2026, and Trump will have an opportunity to install a new Fed chief then

The comments, just two days after Trump's re-election, portend the power struggle that may lie ahead between the central bank and a president who insists he should have a say on interest-rate policy

The price of 22-carat gold also fell Rs 10, with ten grams of the yellow metal selling at Rs 71,990

Federal Reserve Chair Jerome Powell signalled on Monday that more interest rate cuts are in the pipeline but suggested they would occur at a measured pace intended to support a still-healthy economy. His comments, at a conference of the National Association for Business Economics in Nashville, Tennessee, disappointed the hopes of many investors that the Fed would implement another steep half-point reduction in its key rate before the end of the year. The Fed cut its rate by a larger-than-usual half point earlier this month as it has moved past its inflation fight and pivoted toward supporting the job market. The broad S&P 500 stock index initially fell 0.6 per cent after his remarks, but recovered afterwards to close about 0.4 per cent higher. "We're looking at it as a process that will play out over some time," Powell said during a question and answer session, referring to the Fed's interest rate reductions, "not something that we need to go fast on. It'll depend on the data, the

Powell is scheduled to address the association at 12:55 p.m

In each the last three sessions, the rupee has been unsuccessful in climbing past 83.50, a level which market participants say is important for the currency to take out to sustain its upward momentum

The US Federal Open Market Committee on Wednesday reduced the lending rate to 4.75-5.00 per cent from 5.25-5.50 per cent, a larger than expected cut

The surge in IT stocks was fuelled by the US Federal Reserve's decision to cut interest rates by 50 basis points, lowering the target range to 4.75 per cent to 5 per cent.

Policymakers see the Fed's benchmark rate falling by another half of a percentage point by the end of this year, and another full percentage point in 2025