The Latest Breaking News from Jerome Powell

Trump’s own former statistics chief denounces move as ‘groundless’ and ‘dangerous’. Key US politics stories from Friday 1 August at a glance

US Federal Reserve governor Adriana Kugler is resigning from her position, the central bank said Friday, opening a vacancy that President Donald Trump can fill as he presses his campaign to drop interest rates.

“The July jobs report goes a long way toward providing the evidence of a weaker labor market that the Fed needs to justify cutting interest rates in the face of above-target inflation,” said Brian Rose at UBS Global Wealth Management.

The U.S. job market created only 73,000 jobs in July, according to the Bureau of Labor Statistics. Additionally, downward revisions to May and June resulted in the elimination of a whopping 258,000 jobs. That means the U.S. saw the weakest tri-monthly employment print since the pandemic, according to Bloomberg. That’s…

The US president has hurled insults at Jerome Powell, renewing calls for the Federal Reserve to slash interest rates.

The odds of a Federal Reserve interest rate cut in September surged following a surprisingly weak U.S. jobs report, reigniting bullish sentiment across crypto markets heading into a traditionally volatile trading season.

Just two days after Fed Chair Jerome Powell refused to pre-commit to a September rate cut, the U.S. labor market did it for him.

US president called on top Fed officials to seize control from chair Jerome Powell if he fails to cut interest rates

“September is a lock for a rate cut, and it might even be a 50-basis-point move to make up the lost time.”

Trump, meanwhile, continues to beat the drum against Fed chair Jerome Powell.

The beginning of August marks the latest deadline for US president Donald Trump’s “liberation day” tariff policy. This era of chaos and uncertainty began on April 2 and the situation remaims fluid. With the deadline for partners to secure a deal with Washington now passed, it’s a good time to…