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.
U.S. President Donald Trump's threats to make the Strait of Hormuz part of U.S. territory have been mocked by Iran's Deputy Foreign Ministe...
Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan all reported blackouts on Friday, which Kazakhstan’...
At least 20 people have been killed after a magnitude 7.7 earthquake struck off eastern Indonesia early on Saturday, ...
Hundreds of flights have been cancelled or rerouted at Catania Airport over the past week as ash from Mount Etna’s ongoing eruption continues to disrupt air travel in Sicily.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over the strategic waterway and insisting it will not reopen until Washington fulfils its commitments under an interim deal.
The U.S. will impose unprecedented measures on Iran in order to economically isolate the country, U.S. Treasury Secretary Scott Bessent has said.
One person has been killed and six others injured after an explosion at a petroleum storage facility at the Port of Rotterdam, prompting an investigation into the cause.
Record rainfall in Japan killed eight people and stranded thousands of travellers at Tokyo's Narita Airport on Friday, as flooding disrupted transport and cut power to 20,000 homes.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
Rising trade across the Caspian Sea is strengthening Georgia’s role as a logistics hub and could help the country develop higher-value industries, according to the Asian Development Bank (ADB).
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
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