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.
Iran on 4 August approved the creation of a National Defence Council, following June’s brief air conflict with Israel, the country’s most serious ...
Hamas on 4 August said it is ready to coordinate with the Red Cross to deliver humanitarian aid to hostages held in Gaza, if Israel meets certain cond...
All five workers trapped underground in a collapse at Chile’s El Teniente copper mine have been found dead, regional prosecutors confirmed on 4 Augu...
At least 54 migrants have drowned and dozens remain missing after a boat carrying around 150 people sank in bad weather off southern Yemen on Sunday, ...
The bodies of a pilot and his 13-year-old son have been recovered after their biplane crashed into the sea off the coast of Mallorca, Spanish authorit...
Iran on 4 August approved the creation of a National Defence Council, following June’s brief air conflict with Israel, the country’s most serious military confrontation since the 1980s war with Iraq.
Hamas on 4 August said it is ready to coordinate with the Red Cross to deliver humanitarian aid to hostages held in Gaza, if Israel meets certain conditions, as outrage mounts over the deteriorating condition of captives and a rising death toll from hunger.
All five workers trapped underground in a collapse at Chile’s El Teniente copper mine have been found dead, regional prosecutors confirmed on 4 August, bringing the death toll to six.
At least 54 migrants have drowned and dozens remain missing after a boat carrying around 150 people sank in bad weather off southern Yemen on Sunday, according to health officials.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
McDonald's plans to significantly expand its investments in artificial intelligence by 2027, with India expected to play a central role in data governance, engineering, and platform development, a senior executive said on Friday.
U.S. President Donald Trump has sharply criticised Federal Reserve Chair Jerome Powell following the central bank’s decision to keep interest rates unchanged.
Microsoft’s market capitalization surpassed $4 trillion in after-hours trading on Wednesday following a stronger-than-expected earnings report for its fiscal fourth quarter, driven by robust growth in its cloud business.
The European Commission has said it does not view imposing network fees on major technology firms as a practical solution to the ongoing debate over funding the expansion of 5G and broadband infrastructure across the bloc.
Germany’s cabinet has approved a draft 2026 budget on Wednesday featuring record investments and a borrowing level nearly three times higher than last year’s, aiming to strengthen infrastructure and defence while efforts to revive growth.
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