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.
British police are facing a national backlash over their handling of the fatal stabbing of 18-year-old student Henry Nowak, who was handcuffed while d...
China’s Special Envoy for Afghanistan, Yue Xiaoyong, has met Pakistan’s Special Representative for Afghanistan, Mohammad Sadiq, in Islamabad to di...
International organisations, investors, environmental experts and business representatives gathered in Samarkand for the opening of Eco Expo Central A...
China is sending doctors, medical teams and emergency supplies to help combat a growing Ebola outbreak in Central Africa, joining an international eff...
Armenian Prime Minister Nikol Pashinyan has said Yerevan remains committed to normalising relations with Azerbaijan and Türkiye, expressing confidenc...
British police are facing a national backlash over their handling of the fatal stabbing of 18-year-old student Henry Nowak, who was handcuffed while dying from stab wounds after his attacker falsely claimed to be the victim of a racist assault.
China’s Special Envoy for Afghanistan, Yue Xiaoyong, has met Pakistan’s Special Representative for Afghanistan, Mohammad Sadiq, in Islamabad to discuss the China-facilitated Urumqi Process and regional security concerns.
International organisations, investors, environmental experts and business representatives gathered in Samarkand for the opening of Eco Expo Central Asia 2026, one of the region's largest environmental events focused on green growth, climate resilience and sustainable development.
China is sending doctors, medical teams and emergency supplies to help combat a growing Ebola outbreak in Central Africa, joining an international effort to contain the disease before it spreads further.
Okinawa lost transport links and suffered widespread power outages on Monday (1 June) as Severe Tropical Storm Jangmi brought destructive winds and heavy rain to Japan's south-western islands.
Competing narratives continue to shape perceptions of the war in Ukraine, with Russian leadership suggesting a possible end phase while Ukrainian officials warn of renewed large-scale attacks and ongoing escalation risks.
U.S. Secretary of State Marco Rubio has held talks with Lebanese President and Israeli Prime Minister on efforts to ease tensions between Israel and Lebanon. According to a U.S. official, Washington has proposed a plan aimed at achieving a gradual de-escalation of hostilities.
When Armenians vote on 7 June, they will be voting in an election shaped by months of political change and a rapidly deepening relationship with the European Union. The result may not only determine who governs Armenia but also the future direction of the country's geopolitical alignment.
Unsealed records from the U.S. Department of Justice have renewed scrutiny of lawyer Robert Amsterdam after documents revealed communications between his law firm and Jeffrey Epstein's office. The disclosures have drawn attention because of Amsterdam's prominent role in Armenia.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
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