Washington, April 30 (IANS) US President Donald Trump blasted Federal Reserve Chairman Jerome Powell after the central bank chief said he would stay on as a governor. “Jerome ‘Too Late’ Powell wants to stay at the Fed because he can’t get a job anywhere else — Nobody wants him,” Trump wrote on his Truth Social account on Wednesday (Local time), reports XinhuaEarlier, Powell confirmed he will step down as chair on May 15 but plans to remain on the Federal Reserve Board as a governor for a period…
Latest Jerome Powell News & Updates
Washington, Aprril 30 (IANS) Surging oil prices driven by the Middle East conflict are clouding the US Federal Reserve’s economic outlook, with policymakers warning of rising inflation and uneven global impact, particularly on energy-dependent regions such as Asia. Federal Reserve Chair Jerome Powell said higher energy costs are already feeding into inflation, complicating the central bank’s policy path. “Inflation has moved up and is elevated, in part reflecting the recent increase in glo…
Washington, April 30 (IANS) US Federal Reserve Chair Jerome Powell has warned that the central bank’s independence is “at risk” amid what he called unprecedented legal challenges, raising concerns about its ability to set policy free from political pressure. “These legal actions by the administration are unprecedented in our 113-year history,” Powell said on Wednesday (local time). He added that such moves are “battering the institution” and could undermine its role in guiding the …
Washington, April 30 (IANS) The US Federal Reserve has kept interest rates unchanged as rising global energy prices linked to the Middle East conflict pushed inflation higher, while policymakers flagged growing uncertainty around the economic outlook. Federal Reserve Chair Jerome Powell on Wednesday (local time) said the central bank remains focused on its dual mandate of maximum employment and stable prices, even as inflation has “moved up and is elevated.”“The US economy has been expandi…
Seoul, March 19 (IANS) South Korean shares traded nearly 2 per cent lower on Thursday on heightened market volatility sparked by escalating tensions in the Middle East and uncertainties surrounding the United States’ monetary policy direction, despite its rate freeze decision.The benchmark Korea Composite Stock Price Index (KOSPI) dropped 112.91 points, or 1.19 percent, to 5,812.12 as of 11:20 a.m.Overnight, the Dow Jones Industrial Average dipped 1.63 percent, while the tech-heavy Nasdaq Compos…
Seoul, March 19 (IANS) Uncertainty over the path of US monetary policy has deepened amid heightened tensions in the Middle East, a senior official at South Korea’s central bank said on Thursday.On Wednesday (U.S. time), the Federal Reserve kept its benchmark interest rate unchanged at the 3.5-3.75 percent range for the second consecutive time while maintaining its projection of one rate cut this year.At a press conference following the decision, Fed Chair Jerome Powell said the surge in oil pric…
Washington, March 19 (IANS) Federal Reserve Chair Jerome Powell said the US central bank was keeping interest rates unchanged as it monitored the fallout from higher oil prices and broader uncertainty linked to the conflict in the Middle East. Powell on Wednesday (local time) said the Federal Open Market Committee decided to keep its policy rate unchanged because the current stance remained appropriate. He said the US economy was expanding at “a solid pace”, even as inflation stayed above ta…
Washington, Jan 29, (IANS) US President Donald Trump on Thursday sharply attacked Federal Reserve Chair Jerome Powell, a day after the Central Bank held interest rates steady, accusing him of hurting the US economy and national security by refusing to cut borrowing costs.In a post on his Truth Social platform, Trump said Powell “again refused to cut interest rates, even though he has absolutely no reason to keep them so high.”“He is hurting our Country, and its National Security,” Trump …
Seoul, Jan 29 (IANS) Uncertainty over the path of the United States’ monetary policy is expected to persist, though markets have remained broadly stable following the Federal Reserve’s latest interest rate decision, a senior official of the South Korean central bank said on Thursday.On Wednesday (US time), the Fed kept its benchmark interest rate unchanged at the 3.5-3.75 percent range following three successive cuts since September, a decision that will continue to put the gap between the key r…
Washington, Jan 29 (IANS) Federal Reserve Chair Jerome Powell said that higher US inflation is being driven mainly by tariffs on goods, not excess demand — an assessment that could shape expectations for global trade-linked economies. “These elevated readings largely reflect inflation in the goods sector, which has been boosted by the effects of tariffs,” Powell said on Wednesday (local time), while stressing that price pressures in services continue to ease.The Federal Open Market Committe…