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.
Russia launched an overnight drone attack on Ukraine’s Odesa region, damaging residential buildings and infrastructure, and injuring four people, in...
Thailand released 18 Cambodian soldiers on Wednesday, ending their 155-day detention. This comes after a ceasefire agreement between the two countries...
Germany’s military planners warn that cyberattacks, sabotage, and disinformation could signal the start of a new war, according to a confidential go...
Protests in Iran over soaring prices and a plunging rial have spread to universities in Tehran, as students join shopkeepers and bazaar merchants in d...
Organisers in New York have successfully completed a test run of the Times Square New Year’s Eve crystal ball, less than 48 hours before the annual ...
Russia launched an overnight drone attack on Ukraine’s Odesa region, damaging residential buildings and infrastructure, and injuring four people, including three children, according to regional authorities on Wednesday.
Thailand released 18 Cambodian soldiers on Wednesday, ending their 155-day detention. This comes after a ceasefire agreement between the two countries halted 20 days of fighting that killed over 100 people and displaced more than half a million. The soldiers were handed over at a border checkpoint.
Germany’s military planners warn that cyberattacks, sabotage, and disinformation could signal the start of a new war, according to a confidential government document seen by Politico. The plan outlines how Germany would defend itself in a major NATO conflict.
Organisers in New York have successfully completed a test run of the Times Square New Year’s Eve crystal ball, less than 48 hours before the annual countdown celebration.
Protests in Iran over soaring prices and a plunging rial have spread to universities in Tehran, as students join shopkeepers and bazaar merchants in demanding government action. With inflation above 42% and the rial at record lows, unrest continues to grow across the country.
Roman Abramovich, the Russian billionaire and former Chelsea Football Club owner, has assembled a “top tier” legal team, including a former White House advisor, as he prepares for a legal battle in Jersey.
The head of Yemen’s Presidential Council, Rashad al-Alimi, has ordered all forces linked to the United Arab Emirates to leave Yemen within 24 hours.
Max Verstappen has been voted Formula 1’s driver of the year for a fifth straight season by team principals, despite narrowly missing out on the championship.
Syria’s permanent representative to the United Nations, Ibrahim Olabi, said Israel has occupied the Syrian Golan Heights for almost sixty years, and that the UN General Assembly this month once again reaffirmed Syria’s sovereignty over the region.
China has given the nod for car makers to sell Level 3 self-driving vehicles from as early as next year after it approved two electric sedans from Changan Auto and BAIC Motors.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
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