The Fed wants you to get used to higher interest rates Opinion Federal Reserve Chair Kevin Warsh is urging markets to stop relying on central bank guidance and instead independently interpret economic data, signalling a shift toward a paradigm where higher interest rates are accepted as a component of a high-growth, prosperous economy, says Helen Thomas “We should not indulge a regime in which market participants are [...]
Andrew Bailey: Populism a threat to global economy Economics The groundswell of populist politics threatens to undermine central banks’ independence and hamper their ability to protect the long-term interests of the global economy, Andrew Bailey has warned. In a speech in London, the Bank of England governor accused populist parties of trying to exert increasing levels of influence over monetary authorities the world over, [...]
As it happened: FTSE 100 jumps as oil falls back; Warsh says ‘work to do’ on inflation FTSE 100 Live Welcome back to the City AM FTSE 100 liveblog. The UK’s blue-chip index extended gains on Friday after some pressures in the oil market eased off. Oil prices reared back up on Thursday night, reversing days of losses earlier in the week. The price of Brent crude – the international benchmark for oil – jumped [...]
As it happened: FTSE 100 falls but Nasdaq soars after Nvidia sales boom August 27, 2026 Welcome back to the City AM FTSE 100 liveblog. The UK’s blue chip index suffered heavy losses on Thursday, as murky US inflation data overshadowed Nvidia’s sales triumph. While headline inflation fell back, the Fed’s preferred measure – the Personal Consumption Expenditures Price Index (PCE) – is still running hot at 3.7 per cent. Investors [...]
Fed chair Kevin Warsh faces Jackson Hole D-Day August 27, 2026 Kevin Warsh has opted for a less-is-more approach when communicating his feelings on interest rates and inflation. Ahead of his first set piece speech as Federal Reserve chair, investors want to hear more, writes Ali Lyon. When Federal Reserve chair Kevin Warsh steps up to the wood-panelled stage at this week’s Jackson Hole symposium, investors [...]
UK borrowing costs soar as Iran ceasefire collapses July 14, 2026 The UK’s borrowing costs have sailed past five per cent for only the third time since the onset of the Iran war, in a headache for Andy Burnham just days before he enters Downing Street. The yield on the UK’s 10-year government bond – the benchmark for a country’s long-term ability to borrow – climbed [...]
Interest rate cut is ‘off the table’, says Bank of England governor July 2, 2026 Andrew Bailey has said cutting interest rates is “off the table at the moment” in the clearest sign yet borrowing costs are likely to stay elevated for the rest of the year. The Bank of England governor said on a panel at the European Central Bank’s annual conference in Portugal that inflationary pressures following the [...]
Are we about to see one of the biggest shifts in monetary policy since the financial crisis? June 30, 2026 Chair Kevin Warsh believes the Federal Reserve should offer forward guidance, arguing that promises about future policy quickly become shackles around a central bank’s neck. He could be about to get his way, says Helen Thomas As the first half of the year draws to a close, the world’s leading central bankers gather this week [...]
What today’s central bankers can learn from the late Alan Greenspan June 22, 2026 Former chair of the Fed Alan Greenspan has died today, leaving a great legacy and many lessons for policy makers today, says Ben Ramanauskas Alan Greenspan, Chairman of the Federal Reserve for nearly two decades, died yesterday at the age of 100. While his passing will receive little media coverage due to the resignation of [...]
Kevin Warsh tears up forward guidance on rate moves at the Fed June 17, 2026 Kevin Warsh, the chairman of the Federal Reserve, signalled a major change to how the US central bank handles the run-up to its key interest rate decisions overnight, telling investors across global markets that “we’ve dropped forward guidance”. There was concern in the City that it could mean a decline in the level of transparency over [...]