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.
Kyriakos Mitsotakis is due in Türkiye on Wednesday for talks with Recep Tayyip Erdoğan, as the two NATO allies seek to sustain a fragile thaw after ...
Polish prosecutors have requested a European arrest warrant for former Justice Minister Zbigniew Ziobro, who was granted political asylum in Hungary l...
Turkish Foreign Minister Hakan Fidan held a phone conversation with United Nations Secretary-General Antonio Guterres on Tuesday, diplomatic sources s...
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French President Emmanuel Macron has warned that Europe should prepare for fresh friction with the U.S. and treat what he called the ‘Greenland mome...
Kyriakos Mitsotakis is due in Türkiye on Wednesday for talks with Recep Tayyip Erdoğan, as the two NATO allies seek to sustain a fragile thaw after decades of strained relations.
Polish prosecutors have requested a European arrest warrant for former Justice Minister Zbigniew Ziobro, who was granted political asylum in Hungary last month, amid allegations of large-scale misuse of public funds and abuse of power.
Turkish Foreign Minister Hakan Fidan held a phone conversation with United Nations Secretary-General Antonio Guterres on Tuesday, diplomatic sources said.
French President Emmanuel Macron has warned that Europe should prepare for fresh friction with the U.S. and treat what he called the ‘Greenland moment’ as a signal to strengthen the European Union’s economic and political power.
U.S. President Donald Trump has criticised American freestyle skier Hunter Hess after the athlete said he felt conflicted about representing the United States at the Winter Olympics in Italy, sparking a public clash that highlights growing political tensions surrounding the Games.
U.S. skiing great Lindsey Vonn underwent surgery in an Italian hospital on Sunday after her attempt to win Olympic downhill gold ended in a violent crash just seconds into the race at the Milano Cortina Winter Games.
JD Vance arrived in Armenia on Monday (9 February), becoming the first sitting U.S. Vice President to visit the country, as Yerevan and Washington agreed to cooperate in the civil nuclear sector in a bid to deepen engagement in the South Caucasus.
António José Seguro’s decisive victory over far-right challenger André Ventura marks an historic moment in Portuguese politics, but analysts caution that the result does not amount to a rejection of populism.
J.D. Vance met Azerbaijan's president Ilham Aliyev in Baku on a rare visit by a sitting U.S. vice president, signalling a renewed push to deepen cooperation with Azerbaijan on energy, security and regional stability.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
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