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.
Azerbaijan has dispatched a new rail shipment of petroleum products to Armenia, marking a continued resumption of trade following the lifting of long ...
Venezuela has released Former opposition candidate Enrique Marquez and prominent Venezuelan-Spanish rights activist Rocío San Miguel and four other S...
French President Emmanuel Macron has warned that the U.S. is “gradually turning away” from some of its allies and “breaking free from internatio...
Tens of thousands of Iranians have taken to the streets in Tehran and across at least 28 cities in a wave of anti-government demonstrations, now enter...
Russian drone and missile attacks on Kyiv early on Friday (9 January) killed at least 4 people, injured at least 19, and caused significant damage to ...
Azerbaijan has dispatched a new rail shipment of petroleum products to Armenia, marking a continued resumption of trade following the lifting of long standing transit restrictions.
Venezuela has released Former opposition candidate Enrique Marquez and prominent Venezuelan-Spanish rights activist Rocío San Miguel and four other Spanish citizens, local rights group Foro Penal confirmed on Thursday (9 January).
Tens of thousands of Iranians have taken to the streets in Tehran and across at least 28 cities in a wave of anti-government demonstrations, now entering their twelfth day.
Russian drone and missile attacks on Kyiv early on Friday (9 January) killed at least 4 people, injured at least 19, and caused significant damage to residential buildings and critical infrastructure, Ukrainian officials said.
Snow and ice stalled travellers in northwest Europe on Wednesday, forcing around a thousand to spend the night in Amsterdam's Schiphol airport but delighting others who set out to explore a snow-blanketed Paris on sledges and skis.
U.S. President Donald Trump has warned that Iran could face a strong response from the United States if its authorities kill protesters amid ongoing unrest.
Snow and ice caused travel chaos in northwest Europe on Wednesday, while others were delighted by the snow-covered streets of Paris, venturing out on sledges and skis.
Iran is now facing a near‑total internet blackout as anti-government protests sweep the country. Major cities including Tehran have seen connectivity drop sharply, leaving millions of residents isolated from online communication.
Hungary’s foreign minister on Wednesday criticised European plans to establish military hubs in Ukraine, saying the move risks pushing Europe closer to a direct confrontation with Russia.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
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