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The Latest Breaking News from Jerome Powell

Trump's Tariffs, Tax Cuts, And Tensions With Brazil Stir The Pot: This Week In Economy

The past week has been a whirlwind of economic and political events. From record-breaking customs duty collections to billionaire investors casting doubt on tariff outcomes, the week was filled with intriguing stories. Here’s a quick recap of the top five stories that made headlines.

Benzinga

Why is the number of first-time US homebuyers at a generational low?

Young Americans are holding off on buying a home, with the average age in 2024 being a record high of 38

The Guardian - US

Gold's Bull Run: Seasonal Strength Meets Conflicting COT Report—Are You In?

Gold's all-time high $3,509.9! Central banks bought big, but the COT report waves a red flag. Seasonal gains await—Market players, read or regret!

Barchart

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Trump is ‘extremely troubled’ by Fed’s approach, according to new letter, but bank official stands firm on independence

In a response to Fortune, Federal Reserve Bank of St. Louis president Alberto Musalem defended the Fed’s autonomy, citing global evidence that independent central banks deliver stronger inflation and employment outcomes.

Fortune

Jerome Powell Has 'Grossly Mismanaged,' Says Russ Vought As Fed HQ Renovation Costs Soar To $2.5 Billion: 'The Palace Of Versailles Would Have Cost $3 Billion'

Office of Management and Budget Director Russ Vought launched a scathing attack on Federal Reserve Chair Jerome Powell on Thursday, accusing him of gross fiscal mismanagement over cost overruns on the Fed’s headquarters renovation project.

Benzinga

Warren Buffett Indicator Soars To 208%, Surpassing Dot-Com, 2008 Levels

The renowned Warren Buffett Indicator, a crucial valuation metric comparing total stock market capitalization to the Gross Domestic Product (GDP), has reached 208.42%.

Benzinga

‘Masterful inactivity’ reigned at Fed’s latest meeting—but notes reveal more officials are coming around to Donald Trump’s way of thinking

Fed officials are increasingly split on rate cuts, though UBS’s Paul Donovan says their indecision currently amounts to little more than “masterful inactivity.”

Fortune

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Bill Ackman Cheers Money Market Funds Hitting Record $7.4 Trillion As Jerome Powell Snubs Trump's Rate Cut Demands

Billionaire Bill Ackman said that he was “bullish” as the money market funds hit a record, hinting that any rate cuts could direct these monies into the equity markets.

Benzinga

As Trump Calls For 3-Percentage Point Rate Cut, 'Too Late' Jerome Powell To Resign, June Fed Minutes Show 'Uncertainty' Reigns Supreme

As the minutes of the Federal Reserve’s June meeting were released on Wednesday, the word “uncertainty” reigned supreme amid the ongoing tariff turmoil and President Donald Trump‘s call to cut rates by 3 percentage points.

Benzinga

Trump's 'I Like You Better' Sparks Talk Of Bessent As Next Fed Chief

A seemingly offhand remark from President Donald Trump has set off a wave of speculation in Washington and on Wall Street about the future leadership of the Federal Reserve.

Benzinga

The problem with Trump’s plan to tax copper is that the U.S. isn’t self-sufficient in copper

This morning, investors seem to be betting that he’ll eventually climb down.

Fortune

Polymarket Bettors See 50% Chance Of Fed September Rate Cuts As Trump Turns Up Heat On Powell

Cryptocurrency bettors now estimate a 50% possibility that the Federal Reserve will cut interest rates for the first time in 2025 during its September meeting.

Benzinga

US copper prices soar after Trump threatens 50% tariff on imports

The 50% duty would match the rate placed on steel and aluminium imports. The president also said he plans to impose a tariff of up to 200% on pharmaceutical drugs.

Euronews

Trump doubles down on Aug. 1 tariff deadline as stocks continue to dip

After the S&P 500 roared to all-time highs in June, investors are taking a cautious approach with the threat of tariffs looming.

Fortune

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Fortune

Trump keeps getting in the way of the rate cut he desperately wants from Jerome Powell

Deutsche Bank argues the Fed's path to cutting is only getting more "difficult" because of Trump's changing tariff policies.

Fortune

Forget a ‘shadow’ Fed chair, here’s how the central bank could have two different leaders at once

Jerome Powell actually wears two hats: He is chair of the Fed’s Board of Governors and chair of the Federal Open Market Committee.

The Guardian - US

Trump takes on the Fed – but he has little power over central bank, economists say

President has savaged Federal Reserve chair Jerome Powell for not lowering interest rates, but he can’t easily fire him

Benzinga

Craig Shapiro Slams Jerome Powell's Legacy Of 'Quiet Surrender' To Wall Street And The US Treasury: 'No Longer Serves The Public'

Macro strategist Craig Shapiro delivered a scathing critique of Fed Chair Jerome Powell’s performance over the years, pushing back against the growing narrative that casts his tenure in a positive light.

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Benzinga

Labor Market Woes, Gold's Rise, Trump's Fed Attack, Middle-Class Struggles And A Surprising Jobs Report: This Week In Economy

The past week has been a rollercoaster ride for the U.S. economy. From a rare warning sign in the labor market to a surprising jobs report, the week was filled with unexpected turns. The gold market saw a potential rise, while the Federal Reserve faced criticism from President Donald Trump.…

Benzinga

Trump's Sweeping Tax Bill, Tariff Hikes, Gavin Newsom's Tour And More: This Week In Politics

The past week has been a whirlwind of political activity, with President Donald Trump making headlines on multiple fronts. From signing a controversial tax and spending bill to announcing tariff hikes, the President has been at the center of several major stories. Here’s a quick round-up of the top five…

The Guardian - US

Here we go again: latest Trump tariff deadline looms amid inflation concerns

US is on the brink of launching a trade assault on dozens of countries as 90-day pause on tariffs is set to end on 9 July

Barchart

‘Jerome Powell Has Set the Middle Class Back a Decade’: Grant Cardone Slams Fed Chair as Home Buyers Hit ‘Historic Low’

Grant Cardone’s critique of Federal Reserve policy reflects his real estate background and highlights concerns over rising mortgage costs and declining homeownership.

Fortune

Why Wall Street got the jobs number so wrong

“Seasonal noise” around government hiring skewed the numbers upward, analysts say, and payrolls are in fact pretty weak.

International Business Times

As US Stocks Hit Records, Experts See The Dollar Falling Further

While the US stock market has fully recovered from a spring rout, the relentless drop in the dollar is prompting currency experts to warn of greater financial market turmoil ahead.

Barchart

Stocks Rally as US Payroll Report Encourages Economic Optimism

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +0.83%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.77%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.99%. September E-mini S&P futures (ESU25 ) rose +0.77%, and September E-mini Nasdaq futures...

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