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The Latest Breaking News from Jerome Powell

Trump backs off threat to fire Fed Chair Powell, as stock market surges

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

Al Jazeera

Trump says China tariffs will drop ‘substantially – but it won’t be zero’

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

The Guardian - UK

Trump Says Has 'No Intention' Of Firing Fed Chief

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.

International Business Times

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Trump says he has no plans to fire Fed chief Jerome Powell after calling him a ‘major loser’

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

The Guardian - US

Trump Rages at the Fed Over Interest Rates

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

Reason

It’s official – Donald Trump is bad for the world economy

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

The Independent UK

IMF warns Trump tariffs are fuelling uncertain global economic outlook

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

Al Jazeera

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Bitcoin ETFs clock highest inflows since January as Bitcoin reclaims $90,000

Bitcoin ETFs pulled in $381 million on Monday as the U.S. dollar weakened.

Fortune

Markets Soar As Treasury Secretary Reportedly Says Tariff Standoff With China Is Unsustainable And Set To De-Escalate

Markets are soaring after Bloomberg reported on Tuesday that Treasury Secretary Scott Bessent said the tariff standoff with China is unsustainable

Latin Times

FTSE 100 makes further gains as Wall Street rebounds

The FTSE 100 finished up by 0.64%, or 52.94 points, to close at 8,328.6.

Evening Standard

Even Trump must know that firing the chair of the Fed would be self-defeating

Jerome Powell is a soft target for the president amid economic instability. But getting rid of him would only invite more chaos

The Guardian - UK

Executives Will 'Stand Up' to Trump, Business Professor Predicts as Stock Market Takes Another Tumble

As Trump's tariff battles and attacks on the Fed agitate markets, business professor Scott Galloway predicts that high-profile executives will soon speak out.

Latin Times

If Trump fires Jerome Powell and replaces him with someone more politically pliant, 'it could be something that backfires on Trump spectacularly,' researcher says

It’s also unclear how much interest rate cuts can "stem the bleeding" from tariffs, Renaissance Macro’s Neil Dutta said.

Fortune

ECB's Lagarde Hopes Trump Won't Fire US Fed Chief Powell

European Central Bank chief Christine Lagarde said Tuesday that she hoped US President Donald Trump would not oust the country's central bank boss Jerome Powell prematurely.

International Business Times

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The Independent UK

Gold soars to a new high as economic uncertainty deepens. Here's what to know

As economic uncertainty deepens worldwide, gold prices keep hitting record after record

Euronews

Gold price hits record high: What’s behind the precious metal’s rally?

Gold prices have surged almost 31% so far this year already, driven by rising safe haven demand and an increasingly volatile global economy.

Latin Times

Trump Could Cross An Economic Red Line For Wall Street As Markets Tank

Trump is further rattling markets by demanding Fed Chair Jerome Powell cut rates and discussing removing him despite the central bank's independence

Kiplinger

Can Trump Fire Powell?

"Can Trump fire Powell?" may not matter anymore as the White House uses its power to get what the president wants from the Fed: lower interest rates.

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Latin Times

Gold Hits Record, Stocks Mixed As Trump Fuels Fed Fears

The rush for safety saw gold hit yet another record above $3,500, and while the dollar steadied after the previous day's selloff, it remained under pressure against its major peers.

International Business Times UK

'The Dollar Would Fall Off a Cliff': Expert Predicts What Would Happen if Trump Fired Jerome Powell

Experts believe US President Donald Trump could introduce unprecedented losses to US equities and the devaluation of the greenback if he ousts US Federal Reserve Chair Jerome Powell.

The Guardian - UK

Gold climbs above $3,500 for first time as Wall Street rallies after slide

Dollar also recovers after Monday’s sell-off prompted by Donald Trump’s attack on Federal Reserve chair

Fortune

Global markets are all over the place after U.S. stocks slumped following Trump’s attacks on Fed chair Powell

Analysts expressed a high degree of nervousness at the prospect that Powell might be replaced by someone who would give Trump more direct political control over the Fed.

Barchart

Stock Index Futures Gain With Focus on Trade Talks and Tesla Earnings, Fed Speak on Tap

June S&P 500 E-Mini futures (ESM25) are up +0.98%, and June Nasdaq 100 E-Mini futures (NQM25) are up +1.05% this morning, signaling a rebound from yesterday’s sell-off on Wall Street, while investors await comments from Federal Reserve officials and a raft of corporate earnings reports, with a particular focus on…

Evening Standard

Pound hits seven-month high against dollar amid US stock market turmoil

Trump has urged the Fed lower interest rates immediately

Euronews

Is Donald Trump threatening the US Federal Reserve’s independence?

US president Donald Trump has been increasingly calling for the Federal Reserve to lower interest rates, claiming that there is "virtually no inflation", as energy and grocery prices continue to decrease considerably.

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