White House: Trump is not interfering with Fed policy decisions
The White House clarified statements made by President Donald Trump to CNBC about the Federal Reserve and its decision to raise interest rates this year. In a statement to CNBC, the White House said: “Of course the President respects the...
Trump lays into the Fed, says he’s ‘not thrilled’ about interest rate hikes
In a stinging and historically rare criticism, President Donald Trump expressed frustration with the Federal Reserve and said the central bank could disrupt the economic recovery. Presidents rarely intercede when it comes to the Fed, which sets the benchmark interest...
Tallying Up Tariffs: The Effect on Inflation
Executive Summary Trade tensions have been escalating since the spring when President Trump announced tariffs on steel and aluminum imports. Tit-for-tat responses to the initial tariffs levied by the administration earlier this year are beginning to add up. Supply chain...
Gold Slide Resumes as Jobless Claims Slide
Gold has resumed its losing ways in the Thursday session, after showing little change on Wednesday. In North American trade, the spot price for one ounce of gold is $1217.53, down 0.83% on the day. On the release front, manufacturing...
Automakers push back on EU tariff plan, saying there’s no evidence imports affect national security
Auto executives pushed back Thursday on the Trump administration’s proposal to dramatically raise tariffs on auto imports from the EU. Industry executives, testifying at the first of a two-day hearing being held by the U.S. Commerce Department, warned against the...
Copper — a metal with a history of predicting economic trouble — hits 1-year low, nears bear market
Copper prices reached their lowest levels in a year on Thursday amid concerns that a global trade war could strain global supply chains and slow down the global economy. The metal’s futures for September delivery traded as low as $2.6735...
Trump trade tactics sabotaging the economy and markets, Stephen Roach warns
Wall Street could be making a costly mistake. According to economist and Yale University senior fellow Stephen Roach, the markets are underestimating the impact from the trade war with China. “The market just thinks this is typical Donald Trump bluster,...
Fed’s banking supervisor backs new interest rate benchmark
The Federal Reserve’s banking supervisor gave his backing Thursday to a new interest rate benchmark for institutions to use when lending to each other. Fed Governor Randal Quarles, vice chairman for supervision, said banks can use the central bank’s Secured...
Leading indicators up slightly more than expected in June
The Conference Board’s Leading Economic Index increased half a percent in June, beating expectations. The index rose 0.5 percent in June, edging past expectations for a gain of 0.4 percent, according to economists polled by Reuters. This marks the eight...
Dollar Surges as Trade War Takes Back the Stage, Pushed Further by Stellar Job Data
Dollar is trading as the strongest one today as trade spat intensifies again. For whatever reasons, the greenback has been supported by intensifying trade tension between US and other countries. Further buying is seen in Dollar in early US session...