The Latest Breaking News from Jerome Powell

The US President confirmed that he has no plans to fire the Chairman of the Federal Reserve Jerome Powell. It follows his previous statement about wishing to terminate Powell's mandate, which caused market turmoil.

Global stock markets experienced a relief rally after US Treasury Secretary Scott Bessent indicated that high tariffs were not sustainable, raising hopes for a de-escalation in the US–China trade war. President Trump confirmed the stance and signalled that tariffs on China would be cut.

Wall Street rallies after US Treasury Secretary says trade war with China ‘unsustainable’.

US president says tariffs on imported goods will come down from 145% rate but insists ‘we’re doing fine with China’

US President Donald Trump said Tuesday he had no plans to fire the Federal Reserve chief, in apparently conciliatory remarks after berating him and triggering market turmoil.

President says tariffs on China could be lowered days after lashing out over bank’s reluctance to cut interest rates

According to the president, the U.S. economy will begin to slow down unless the Fed “lowers interest rates, NOW.”

THE INDEPENDENT VIEW: Editorial: The IMF’s downgrade of global growth forecasts, a direct result of US tariffs, will only add to the pressure on chancellor Rachel Reeves to make the case during her visit to Washington for a fabled US-UK free trade agreement

Economists recently echoed concerns of global financial uncertainty and say a recession is more likely.