U.S. President Donald Trump has sharply criticised Federal Reserve Chair Jerome Powell following the central bank’s decision to keep interest rates unchanged.
Trump claimed that Powell has cost the country trillions of dollars.
In a post on his Truth Social account, Trump continued his attacks on Powell, describing him as “very late, very angry, very dumb and very political.”
The President added that Powell “is costing our country trillions and overseeing one of the most incompetent or improper building renovations in construction history.”
Yesterday, the Fed held interest rates steady at 4.25-4.50 %, in line with expectations, while noting that inflation remains elevated.
The statement also revealed that Federal Open Market Committee (FOMC) members Michelle Bowman and Christopher Waller opposed the decision to keep rates unchanged and favoured a 25 basis point cut instead.
Following the announcement, Fed Chair Jerome Powell said it was too early to say whether a rate cut would occur in September.
Türkiye’s parliament has ratified a defence agreement with Saudi Arabia and Pakistan, strengthening military cooperation between the thr...
Millions displaced by Sudan's civil war risk losing access to emergency shelter as funding shortages leave aid warehouses empty, the UN refugee...
While the economies of several major Gulf countries have contracted in 2026 amid the fallout from the Iran war, Oman is on course to grow by 4.1 pe...
Romanian authorities said late on Thursday that two additional planes had received bomb threats including a KLM flight to Tel Aviv that had a layover in Bucharest.
U.S. Vice President JD Vance has blamed the war with Iran for the Republicans' defeat in the 2026 midterm elections, arguing that voters who supported President Donald Trump in 2024 turned to the Democrats because of foreign policy and economic concerns.
The war between Russia and Ukraine continued to claim civilian lives this week even as diplomatic activity intensified ahead of planned peace discussions in Abu Dhabi.
Elon Musk was not on the ballot in Tuesday’s U.S. midterm elections, but he emerged as one of the biggest losers after Democrats swept to victory, threatening his political influence and exposing his business empire to greater scrutiny.
A British healthcare worker who contracted Ebola while working in the Democratic Republic of Congo is being transferred to the United Kingdom for specialist medical care, according to British authorities.
Australian design platform Canva has announced a major restructuring affecting 22 per cent of its workforce, with 1,271 employees facing job cuts, relocations or changes to their roles as the company grapples with slowing growth and rising AI costs.
British Petroleum (bp) spent nearly $1.5 billion with suppliers and contractors across Azerbaijan, Georgia and Türkiye in the first nine months of 2026, highlighting the economic reach of major energy projects beyond oil and gas production.
Seven OPEC+ countries agreed on Sunday, 1 November, to keep oil production targets unchanged for December, extending an earlier freeze. But with the Iran war disrupting supplies and prices fluctuating, what is really driving the global oil market?
Cryptocurrencies are volatile, and their crashes make headlines. But does a slump in digital coins ever spill over into the pounds, dollars and euros in people's bank accounts? The short answer is not directly, but indirectly it can, and regulators are increasingly worried about how.
Russian President Vladimir Putin has praised record trade with Egypt as Moscow seeks to use its economic ties with Cairo to expand its influence across Africa, with a focus on manufacturing, infrastructure and energy.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment