The Latest Breaking News from US Federal Reserve

Kansas City Federal Reserve President Jeff Schmid said on Tuesday that the central bank has sufficient time to analyze rising import tariff impacts on inflation and economic growth before implementing further interest rate cuts.What Happened: “The current posture of monetary policy, which has been characterized as ‘wait-and-see,’ is appropriate,” Schmid…

Most equities extended a global rally Wednesday after Iran and Israel agreed to a ceasefire that ended more than a week of hostilities, while the dollar struggled to recover from a sharp drop stoked by bets on a US interest rate cut.

Hackers connected to the Iranian government have a history of trying to attack U.S. government agencies and the financial sector.

The FTSE 100 index closed up just 0.95 points at 8,758.99.

Federal Reserve Chair Jerome Powell told Congress Tuesday that while inflation has cooled from its 2022 peak, it remains “somewhat elevated,” and the central bank is not ready to adjust interest rates, yet.

Jerome Powell says central bank is waiting to see tariffs’ impact on US prices as president claims ‘incompetence’

The dollar index (DXY00 ) today is down by -0.41% at a 1-week low. The dollar retreated after President Trump announced a tentative ceasefire between Israel and Iran, which curbed safe-haven demand for the dollar. Also, today's rally in stocks has reduced liquidity demand for the dollar. The dollar weakened...

The S&P 500 Index ($SPX ) (SPY ) today is up +0.85%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.89%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.10%. September E-mini S&P futures (ESU25 ) are up +0.80%, and September E-mini Nasdaq futures...

Markets expect one or two rate cuts later this year, possibly starting in September, but Powell gave no firm commitment.