The Latest Breaking News from Jerome Powell

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.

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

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!

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.

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.

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

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

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.

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.

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.

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