The euro steadied near its lowest in a month on Wednesday, nursing steep losses this week as investors counted the cost of the U.S.-EU trade pact. Olena Malik | Moment | Getty Images The European Central Bank unveiled plans on Saturday to widen access to its euro liquidity backstop, making it globally available and permanent … Read more
Sen. Thom Tillis said Friday that he will oppose President Donald Trump’s nomination of Kevin Warsh as Federal Reserve chair until the criminal probe of the current chair, Jerome Powell, is “fully” resolved. “Protecting the independence of the Federal Reserve from political interference or legal intimidation is non-negotiable,” the North Carolina Republican said in a … Read more
President Donald Trump on Friday named Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, ending a prolonged odyssey that has seen unprecedented turmoil around the central bank. The decision culminates a process that officially began last summer but started much earlier than that, with Trump launching a fusillade of criticism against the Powell-led … Read more
Lisa Cook, governor of the US Federal Reserve, and U.S. President Donald Trump. Ting Shen | Bloomberg | Getty Images | Jonathan Ernst | Reuters The Supreme Court is set to hear oral arguments on Wednesday morning in a case over whether President Donald Trump has the power to fire Federal Reserve Gov. Lisa Cook … Read more
The skyline of Tokyo city, Japan. Tomohiro Ohsumi | Bloomberg | Getty Images Asia-Pacific markets began the first full trading week of 2026 on a stronger note after the U.S. said it had attacked Venezuela and captured President Nicolas Maduro over the weekend. Oil prices edged lower as markets weighed the potential impact of geopolitical … Read more
WASHINGTON – The Federal Reserve on Tuesday released minutes from its highly divisive meeting earlier this month, which concluded with a vote to lower interest rates again that appeared to be an even closer call than the final vote indicated. Officials expressed a variety of opinions during the Dec. 9-10 meeting, according to the summary … Read more
The U.S. 10-year Treasury yield was slightly lower on Monday as investors returned from the Christmas holiday. The yield on the 10-year Treasury slipped 2 basis points to 4.112% at 3:33 a.m. ET, while the yield on the 2-year Treasury was last seen little changed at 3.477%. Yields and prices move in opposite directions. One … Read more
TOKYO, JAPAN – JULY 27: Pedestrians and shoppers walk through the Akihabara area on July 27, 2023 in Tokyo, Japan. Japan’s core consumer price index climbed by 3.3% in June, outpacing the US figure for the first time in eight years as the Bank of Japan holds its monetary policy meeting on July 27 and … Read more
Members of the Federal Reserve rate-setting committee say they are factoring increased labor productivity into their economic forecasts as artificial intelligence technology becomes more widely adopted. Fed Chair Jerome Powell addressed this topic in his December news conference, saying that in past technology waves “there’s always been more work and higher productivity and incomes have … Read more
Chicago Federal Reserve President Austan Goolsbee on Friday explained why he voted against this week’s interest rate cut, telling CNBC that policymakers should have waited until they had more information before easing further. “I’m pretty optimistic that for 2026 rates will will be able to be a fair bit lower than they are today,” the … Read more