The Latest Breaking News from US Federal Reserve

The Fed is special. Why the Supreme Court may let Trump fire other agency heads—but not Jerome Powell.

Expectations of inflation, and recent waves of price rises, could be self-fulfilling and fuel ‘greedflation’ – and it may not only apply to US consumers

The President has backed off on firing Powell. Instead, he recently announced he fired Fed Gov Lisa Cook.

Donald Trump's simmering discontent with the US Federal Reserve boiled over this week, with the president threatening to take the unprecedented step of ousting the head of the fiercely independent central bank.

President Donald Trump is studying whether he can fire Fed Chair Jerome Powell, said National Economic Council Director Kevin Hassett

Nearly every country in the world has a central bank – a public institution that manages a country’s currency and its monetary policy. And these banks have an extraordinary amount of power. By controlling the flow of money and credit in a country, they can affect economic growth, inflation, employment…

Investors are also eyeing developments at the Federal Reserve as Trump hit out at boss Jerome Powell, who warned the sweeping tariffs were "highly likely to generate at least a temporary rise in inflation".

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“If I want him out, he’ll be out of there real fast, believe me," Trump said in the Oval Office to reporters on Thursday.

Asian shares are mostly higher after a bumpy ride on Wall Street

Asian markets were mixed in holiday-thinned trade Friday as investors keep tabs on countries' tariff talks with the White House, while Donald Trump's remarks that he was reluctant to hike levies on Beijing even more provided a little support.