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The Latest Breaking News from US Federal Reserve

Jerome Powell Defends $2.5 Billion Fed HQ Overhaul, Says 'No VIP Dining Rooms,' No Private Elevators As Trump Allies Slam Project Over Versailles-Style Excess

Federal Reserve Chair Jerome Powell responded to scrutiny over the central bank's multi-billion-dollar, multi-year renovation of its Washington, D.C. headquarters, emphasizing that the project is being managed responsibly, with no extravagant features or misuse of public funds.

Benzinga

What To Know About Trump's Effort To Oust Fed Chair Powell

US President Donald Trump this week escalated attacks on central bank chair Jerome Powell, suggesting he could be dismissed for "fraud" over his handling of a renovation project at the Federal Reserve's headquarters.

International Business Times

Federal Reserve's Waller says central bank should cut rates at next meeting

A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts

The Independent UK

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Federal Reserve says building renovation complies with law, defends costs

Federal Reserve Chair Jerome Powell on Thursday said the agency’s renovation of its office complex in Washington complies with plans approved by a local commission, disputing a White House suggestion that they had violated the law by deviating from those plans

The Independent UK

Businesses are already passing the cost of tariffs onto consumers, Federal Reserve survey finds

Prices are expected to rise even more by late summer, the Federal Reserve said

The Independent UK

S&P 500 and Nasdaq 100 Rally to Record Highs on a Resilient US Economy

The S&P 500 Index ($SPX ) (SPY ) Thursday closed up +0.54%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.52%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.74%. September E-mini S&P futures (ESU25 ) rose +0.59%, and September E-mini Nasdaq futures (NQU25...

Barchart

Solid US Economic News Lifts the Dollar

The dollar index (DXY00 ) on Thursday rose by +0.29% and posted a 3.5-week high. Signs of strength in the US economy may keep the Fed from cutting interest rates and are supportive of the dollar. Weekly initial unemployment claims unexpectedly fell to a 3-month low, June retail sales rose...

Barchart

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White House seeks inspection of Fed building as Trump piles pressure on Powell

US president has suggested the central bank mismanaged funds for renovations at the Federal Reserve headquarters

The Guardian - US

FTSE 100 closes up despite ‘harsh’ UK jobs data

The FTSE closed up 46.09 points, 0.5%, at 8,972.64.

Evening Standard

Stocks Supported by Signs of US Economic Strength

The S&P 500 Index ($SPX ) (SPY ) today is up +0.25%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.19%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.47%. September E-mini S&P futures (ESU25 ) are up +0.25%, and September E-mini Nasdaq futures...

Barchart

Dollar Climbs on Signs the US Economy Is Holding Up

The dollar index (DXY00 ) today is up +0.35% at a 3.5-week high. Signs of strength in the US economy may keep the Fed from cutting interest rates and are supportive of the dollar. Weekly initial unemployment claims unexpectedly fell to a 3-month low, June retail sales rose more than...

Barchart

Signs of Economic Strength Boost Stocks

The S&P 500 Index ($SPX ) (SPY ) today is up +0.30%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.35%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.40%. September E-mini S&P futures (ESU25 ) are up +0.08%, and September E-mini Nasdaq futures...

Barchart

‘The independence of the Fed is absolutely critical’: Jamie Dimon warns Trump against firing Jerome Powell

Markets drop, Trump walks back, repeat.

We Got This Covered

US Shoppers Keep Spending, Sending A Loud Message To Powell And Trump

June retail sales smashed expectations, rising 0.6% month-over-month after two straight declines, signaling that U.S. consumers remain resilient despite elevated borrowing costs and tariff policy uncertainty.

Benzinga

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International Business Times

Beige Book Flags Growing Pessimism As Tariffs And Labor Shortages Squeeze US Economy

The Federal Reserve's latest Beige Book shows modest growth but rising concerns over tariffs and immigrant labor shortages, clouding the economic outlook.

International Business Times UK

Who Appointed Jerome Powell and Can President Trump Fire Him? What You Need to Know

Jerome Powell, appointed by Trump, faces firing threats. Legal limits and market risks loom. Legal hurdles and recent backtrack suggest it's unlikely, but tensions remain.

We Got This Covered

Season 576 of ‘Trump forgot again’ as the president publicly rewrites his decision and dumps the script on Biden

Someone needs to start writing these things on his hands now.

Fortune

The changing nature of startup employment, OpenAI’s e-commerce ambitions, and Powell’s future

It has been, to say the least, a wild week in the private markets. I’m taking you briefly inside my reporter’s notebook.

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MarketBeat

Citigroup Earnings Could Signal What’s Next for Markets

Citigroup's quarterly earnings show investors a resilient future for the stock market, backed by potentially lower interest rates from the Fed.

Fortune

For one hour, investors got a taste of a new world where the Fed is run by a ‘stooge’—and they hated every minute of it

A noncredible chair would face resistance from inside the Fed, former Fed Vice Chair Richard Clarida says.

Barchart

Stocks Muted Before the Open as Investors Await U.S. Retail Sales Data, Netflix Earnings on Tap

September S&P 500 E-Mini futures (ESU25) are up +0.05%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.13% this morning, pointing to a muted open on Wall Street after yesterday’s volatile session, with attention now turning to U.S. retail sales data and an earnings report from streaming giant Netflix.

Benzinga

US Stocks Likely To Open On A Mixed Note: Netflix, PepsiCo, TSM Earnings In Focus

U.S. stock futures were swinging between gains and losses on Thursday after ending higher on Wednesday. Futures of major benchmark indices were mixed.

The Independent UK

Asian shares are mostly higher after Trump says he discussed firing Fed Chair Powell

World shares are mostly higher while U.S. futures are mixed after President Donald Trump rocked Wall Street by saying he had “talked about the concept of firing” the head of the Federal Reserve

Benzinga

Federal Reserve's Beige Book Reveals Tariff-Driven Profit Squeeze As Businesses Avoid Price Hikes — What It Means for Consumers

The latest Federal Reserve study of economic conditions reveals that businesses that did not raise prices or pass on the impact of tariffs to their customers are likely to take a hit on their profit margins.

Euronews

Trump considered firing Fed Chair but said he is 'highly unlikely' to do so

President Donald Trump rocked Wall Street temporarily by saying he had “talked about the concept of firing” the head of the Federal Reserve, but was unlikely to do so, ”unless he has to leave for fraud”.

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