The Latest Breaking News from Jerome Powell

‘Consumers aren’t even paying these Tariffs, it is mostly Companies and Governments,’ Trump continues to claim.

Wall Street is in full rally mode after July’s inflation data eased fears that tariff-related cost pressures were widespread. The headline Consumer Price Index (CPI) came in below expectations, holding steady at 2.7% year-over-year and fueling speculation of upcoming interest rate cuts.

US president has pressured Powell to lower interest rates and criticised him for the Federal Reserve’s renovation costs.

U.S. inflation in July offered a split verdict for policymakers, with cooling headline prices but hotter core readings, fueling market bets on a September Fed rate cut and prompting President Donald Trump to publicly pressure Jerome Powell once again.

Trump returned to his sharp critiques of the Fed chair, saying: “Jerome ‘Too Late’ Powell must NOW lower the rate” after the inflation report came in a bit cooler than expected.

July inflation data suggests the FOMC’s dual mandate may not be in as much of a pickle as economists previously feared.

Asian shares are mostly higher after President Donald Trump delayed raising tariffs on China for another 90 days

Inflation likely ticked up in July for the third straight month as tariffs lift the cost of imported goods such as furniture, appliances, and toys, which could make it harder for the Federal Reserve to cut short-term interest rates as President Donald Trump has demanded

Economic tremors ripple across financial markets as shifting global dynamics push major banks to alter their interest rate forecasts. J.P. Morgan now expects the Federal Reserve to cut interest rates by 25 basis points at its September meeting, moving up its forecast from December.

Citing sharp downward revisions to U.S. job growth, Bowman reiterated her forecast for three cuts this year while warning that declining data reliability complicates policymaking.

Goldman Sachs estimates U.S. consumers now shoulder two-thirds of President Trump’s new tariff costs, with more companies planning to pass them on in the future.