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.
Leaders of Türkiye, Italy and Libya met in Istanbul on Friday, pledging deeper cooperation on energy, migration and regional stability....
U.S. Secretary of State Marco Rubio has dismissed recent Western recognition of Palestine, saying a Palestinian state cannot exist without Israel’s ...
Cambodia will nominate U.S. President Donald Trump for the Nobel Peace Prize following his role in ending a deadly five-day armed conflict with Thaila...
The deadline to secure a new U.S. trade deal arrives today, potentially marking a turning point in the country’s economic strategy amid faltering mo...
Iran’s President Masoud Pezeshkian is due to start his two-day state visit to Pakistan on Saturday while the relations of the two neighboring countr...
The deadline to secure a new U.S. trade deal arrives today, potentially marking a turning point in the country’s economic strategy amid faltering momentum on global agreements and rising international tensions.
Iran’s President Masoud Pezeshkian is due to start his two-day state visit to Pakistan on Saturday while the relations of the two neighboring countries have gained new significance in terms of regional and international developments.
McDonald's plans to significantly expand its investments in artificial intelligence by 2027, with India expected to play a central role in data governance, engineering, and platform development, a senior executive said on Friday.
President Donald Trump’s decision this morning to impose a new wave of U.S. import tariffs set off a flurry of statements from capitals around the world. While some governments secured last-minute concessions, others blasted the move as a destabilizing shock to the global trading system.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
McDonald's plans to significantly expand its investments in artificial intelligence by 2027, with India expected to play a central role in data governance, engineering, and platform development, a senior executive said on Friday.
Microsoft’s market capitalization surpassed $4 trillion in after-hours trading on Wednesday following a stronger-than-expected earnings report for its fiscal fourth quarter, driven by robust growth in its cloud business.
The European Commission has said it does not view imposing network fees on major technology firms as a practical solution to the ongoing debate over funding the expansion of 5G and broadband infrastructure across the bloc.
Germany’s cabinet has approved a draft 2026 budget on Wednesday featuring record investments and a borrowing level nearly three times higher than last year’s, aiming to strengthen infrastructure and defence while efforts to revive growth.
The World Bank has announced that Tajikistan's medium-term outlook remains favourable, with growth projected to moderate to 7% in 2025 and converge toward a growth rate of 4.5% in 2026 and 5% in 2027.
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