U.S. President Donald Trump called for a major interest rate cut before Federal Reserve Chair Jerome Powell’s testimony to Congress.
Posting on his Truth Social platform on Tuesday, Trump said: “We should be at least two to three points lower… if things later change to the negative, increase the Rate.” He added that Powell would appear before Congress to explain “why he is refusing to lower the Rate.”
Powell is scheduled to testify before lawmakers on Tuesday and Wednesday, following a week of pointed criticism from Trump, which has fuelled Wall Street speculation about the Federal Reserve’s direction when Powell’s term expires next May.
Last week, the Fed kept rates steady at 4.25%-4.50% and signaled two possible cuts by the end of 2025. However, Powell warned of continued inflation pressures as consumers face rising prices from the Trump administration’s planned import tariffs.
Trump’s renewed push for aggressive rate cuts came shortly after his announcement of a ceasefire deal between Israel and Iran, further heightening political and economic attention on this week’s congressional testimony.
Russia reported a major fire at an Ozon logistics hub in Krasnodar after a drone attack on Monday, while Ukraine’s President Volodymyr Zelens...
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Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffi...
Iran on Saturday denounced U.S. plans to announce new sanctions that could put further strain on the Islamic Republic's economy and have an impact on its most important trading partners including China.
A large-scale drone attack has hit Russia's Samara region, damaging facilities and disrupting operations at an Ozon logistics complex, according to regional authorities and the company.
Ukrainian President Volodymyr Zelenskyy has rejected calls for a wartime election, arguing that holding a vote while Russia's full-scale invasion continues would divide the country and undermine national unity.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Azerbaijan and Uzbekistan have elevated bilateral ties with a Treaty on Eternal Friendship signed by Presidents Ilham Aliyev and Shavkat Mirziyoyev in Tashkent on 23 August. The leaders also agreed to expand trade, investment, transport, and regional cooperation.
AnewZ Business Europe, a new weekday programme, takes viewers inside companies driving growth and innovation across the continent, with Brickken CEO Edwin Mata joining the programme for its first episode with host Chief Global Editor Guy Shone. The show airs every Friday.
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 2024, according to ICD–LSEG, as more countries explore Shariah-compliant finance.
Fuel restrictions have returned to parts of Moscow and the surrounding region, adding another strain to Russia’s economy as refinery outages and rising imports weigh on the rouble.
Azerbaijan exported goods worth $17.372 million to Armenia between January and July 2026, according to data from the State Customs Committee, as commercial ties between the two South Caucasus neighbours showed signs of expansion.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
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