U.S. President Donald Trump expressed frustration with Federal Reserve Chair Jerome Powell, stating on Thursday that Powell's termination "cannot come fast enough."
Trump took to his social media platform, Truth Social, to reiterate his demand for the U.S. central bank to reduce interest rates, emphasizing that Powell had missed opportunities to cut rates sooner.
Trump's post criticized Powell for not lowering interest rates in line with the European Central Bank, suggesting that the Fed should have taken more aggressive action earlier but urging immediate cuts now. The Fed's benchmark interest rate currently stands at 4.25%-4.50%, unchanged since December after several reductions late last year.
Trump's comments came a day after Powell addressed an event at the Economic Club of Chicago, where he reaffirmed the Federal Reserve's independence and explained its cautious approach to market volatility. Powell stated that the recent market fluctuations were a natural response to the Trump administration's shifting trade policies, rather than a crisis requiring immediate intervention.
Trump, however, dismissed Powell's remarks, calling them "another, and typical, complete mess!" and continued to criticize the Fed for being "too late and wrong" in its decisions. Despite these ongoing tensions, Powell's position at the Fed remains secure for now, though Trump’s comments underline his ongoing displeasure with the central bank’s policies.
Türkiye’s parliament has ratified a defence agreement with Saudi Arabia and Pakistan, strengthening military cooperation between the thr...
Millions displaced by Sudan's civil war risk losing access to emergency shelter as funding shortages leave aid warehouses empty, the UN refugee...
While the economies of several major Gulf countries have contracted in 2026 amid the fallout from the Iran war, Oman is on course to grow by 4.1 pe...
Romanian authorities said late on Thursday that two additional planes had received bomb threats including a KLM flight to Tel Aviv that had a layover in Bucharest.
U.S. Vice President JD Vance has blamed the war with Iran for the Republicans' defeat in the 2026 midterm elections, arguing that voters who supported President Donald Trump in 2024 turned to the Democrats because of foreign policy and economic concerns.
The war between Russia and Ukraine continued to claim civilian lives this week even as diplomatic activity intensified ahead of planned peace discussions in Abu Dhabi.
Elon Musk was not on the ballot in Tuesday’s U.S. midterm elections, but he emerged as one of the biggest losers after Democrats swept to victory, threatening his political influence and exposing his business empire to greater scrutiny.
A British healthcare worker who contracted Ebola while working in the Democratic Republic of Congo is being transferred to the United Kingdom for specialist medical care, according to British authorities.
Millions displaced by Sudan's civil war risk losing access to emergency shelter as funding shortages leave aid warehouses empty, the UN refugee agency (UNHCR) and the International Organization for Migration (IOM) warned on Friday.
A Kenyan court has sentenced cult leader Paul Mackenzie to 200 years in prison over the deaths of 190 children in one of the country's worst cult-related tragedies.
Abu Dhabi’s ADIPEC 2026 has closed after four days, with a record $67 billion in deals, 240,000 attendees and its largest exhibition yet, highlighting the global energy industry’s focus on security, investment and artificial intelligence.
A fresh wave of bomb threats targeted passenger flights across Europe on Friday, 6 November, marking the third such incident in a week and raising fears of a coordinated campaign of “hybrid aggression and a form of psychological warfare.”
Two people, including a child, were killed and 16 others injured when an intercity bus crashed in eastern France on Friday morning, authorities confirmed.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment