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.
The two-day Fintex Summit 2025 – Finance and Technologies Expo – has officially opened in Baku, bringing together key players from the financial and tech sectors to explore innovation, digitalisation, and regulatory trends.
Oil prices fell sharply for a second day after Israel confirmed a U.S.-brokered ceasefire with Iran, easing fears that the conflict would disrupt global energy supplies.
World leaders convened in the Netherlands on Tuesday for a pivotal two-day NATO summit that could see member states agree to a historic rise in defence spending—or expose sharp divisions within the 32-member alliance.
A deadly weekend attack on a hospital in Sudan claimed the lives of more than 40 people, including children and healthcare workers, drawing international condemnation.
Russia’s Foreign Minister Sergey Lavrov welcomed the Israel–Iran ceasefire on Tuesday but warned it was too early to say if the truce would hold.
A record 740 gigawatts of renewable energy capacity was added worldwide last year, but it's still not enough to meet a global goal to triple renewable capacity by 2030, according to a report by the Paris-based thinktank REN21 showed on Tuesday.
President Ilham Aliyev today inaugurated Azerbaijan's largest power plant in Mingachevir, constructed in partnership with Italian and Chinese companies.
Floods triggered by relentless monsoon rains have forced people to evacuate across China's Guizhou province, with cities urging residents to flee rising waters as infrastructure collapses and warnings of more extreme weather loom.
The two-day Fintex Summit 2025 – Finance and Technologies Expo – has officially opened in Baku, bringing together key players from the financial and tech sectors to explore innovation, digitalisation, and regulatory trends.
Oil prices fell sharply for a second day after Israel confirmed a U.S.-brokered ceasefire with Iran, easing fears that the conflict would disrupt global energy supplies.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
European markets rallied on Tuesday, with shares climbing more than 1% after U.S. President Donald Trump announced a ceasefire between Israel and Iran, easing geopolitical tensions and lifting investor confidence.
Oil prices fell sharply for a second day after Israel confirmed a U.S.-brokered ceasefire with Iran, easing fears that the conflict would disrupt global energy supplies.
Goldman Sachs economists have warned that any significant disruption to oil shipments through the Strait of Hormuz could push Brent crude prices over $100 per barrel, potentially causing a sharp rise in transport costs, inflation, and slowing global growth.
The UK government announced plans to cut green levies on thousands of businesses, aiming to reduce soaring energy costs and boost the manufacturing sector, particularly in Labour strongholds.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
A record 740 gigawatts of renewable energy capacity was added worldwide last year, but it's still not enough to meet a global goal to triple renewable capacity by 2030, according to a report by the Paris-based thinktank REN21 showed on Tuesday.
President Ilham Aliyev today inaugurated Azerbaijan's largest power plant in Mingachevir, constructed in partnership with Italian and Chinese companies.
Floods triggered by relentless monsoon rains have forced people to evacuate across China's Guizhou province, with cities urging residents to flee rising waters as infrastructure collapses and warnings of more extreme weather loom.
The two-day Fintex Summit 2025 – Finance and Technologies Expo – has officially opened in Baku, bringing together key players from the financial and tech sectors to explore innovation, digitalisation, and regulatory trends.
Oil prices fell sharply for a second day after Israel confirmed a U.S.-brokered ceasefire with Iran, easing fears that the conflict would disrupt global energy supplies.
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