Jerome Powell said subpoenas threaten criminal indictment over his June testimony on Fed’s headquarters renovations. Trump said he had no knowledge of the matter.
Central bank communication now holds as much significance as central bank action. A single clause in a press conference can move markets more than a 25-basis-point adjustment.
Central banks have been turning away from dollar, shifting to gold. Stalemate on debt ceiling in US could push countries like Japan, China to use their own currencies for foreign trade.
Fed kicks off rate hike campaign that’s set to be the most aggressive since the mid-2000s. Chair Jerome Powell assures Americans this won’t tip the US economy into recession.
Investors are pricing in a somewhat faster rise in interest rates this year, and the Fed must take its cue. Open-mindedness, patience and gradualism remain the right strategy.
Federal Open Market Committee signaled it would start a rate-hiking cycle soon, follow with gradual reduction in its balance sheet, and end its asset-purchase program by early March.
Overseas funds have sold a net $3.1 billion worth of shares in Taiwan, South Korea and India this week. That follows $4.9 billion of withdrawals last week, highest since August.
Gold is holding above $1,800 an ounce after dropping for the first time in three years in 2021 as central banks globally started dialing back on pandemic-era stimulus.
Premier David Eby, the leader of the minerals- and gas-rich province of British Columbia, spoke with executives at Tata Steel and Reliance Industries on a trade mission to India.
Overall, President Droupadi Murmu has approved Gallantry awards to 70 armed forces personnel, including six posthumous, on the eve of 77th Republic Day.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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