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.
Serbia’s President Aleksandar Vučić and Azerbaijan’s Pr...
Tensions in the Strait of Hormuz are rising as a ceasefire nears expiry with no agreement in place, amid reported attacks on vessels that have heig...
Bulgarians headed to the polls on Sunday (19 April) in their eighth election in five years, with early signs pointing...
Secretly filmed footage from two UK laboratories has reignited debate over animal testing in drug development, after a former worker alleged that m...
Cleanup efforts are underway in Lena, Illinois, after a suspected tornado tore through the village on Friday (17 April), damaging homes, schools an...
Bulgarians headed to the polls on Sunday (19 April) in their eighth election in five years, with early signs pointing to a potentially higher turnout as frontrunner Rumen Radev promised to restore stability and tackle corruption after years of political deadlock.
Secretly filmed footage from two UK laboratories has reignited debate over animal testing in drug development, after a former worker alleged that monkeys, dogs and other animals endured prolonged distress during safety trials for new medicines.
Cleanup efforts are underway in Lena, Illinois, after a suspected tornado tore through the village on Friday (17 April), damaging homes, schools and infrastructure, leaving thousands without power. Residents and emergency crews spent Saturday clearing debris, and working around downed power lines.
Iran’s top negotiator has said recent talks with the United States have shown progress, but that major differences remain over nuclear issues and the Strait of Hormuz, as diplomatic efforts continue alongside escalating regional instability.
Dozens of Chinese-made humanoid robots have demonstrated improvements in speed, balance and autonomous navigation after completing a half-marathon in Beijing on Sunday (19 April), in a showcase of the country’s fast-developing robotics sector.
The U.S. Navy has forcibly intercepted and boarded the Iranian cargo ship TOUSKA in the Gulf of Oman after it attempted to breach the ongoing naval blockade. President Trump confirmed that the vessel was neutralised and seized by Marines following a direct strike on its engine room.
Two Indian-flagged ships were shot at in the Strait of Hormuz on Saturday, India's Foreign Ministry said, as Iran closed the Strait of Hormuz again, less than 24 hours after reopening the 167km long sea passage, which is essential for global trade.
Six people have been killed after a man opened fire in a supermarket in the Ukrainian capital, Kyiv, on Saturday (18 April). Ukraine's Security Service said it was investigating the incident as a "terrorist act."
Global leaders and diplomats gathered in southern Türkiye on 17 April for the fifth Antalya Diplomacy Forum, focusing on uncertainty, conflict, and the future of global cooperation.
Netflix shares fell sharply on Friday after the streaming group issued a weaker-than-expected outlook and said chairman and co-founder Reed Hastings will step down from the board.
The Middle East crisis is reshaping transport choices worldwide, turning electric vehicles from a long-term climate goal into an immediate economic calculation.
China’s export growth slowed sharply in March, as the fallout from the Middle East conflict pushed up energy and shipping costs, weakening global demand and exposing risks in Beijing’s reliance on manufacturing to drive growth.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
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