US government shutdown to delay crucial economic data Economics The United States government shutdown has caused federal statistics agencies to stop producing economic reports, sparking fears Federal Reserve officials will be deprived of crucial data in the run-up to one of the most eagerly anticipated interest rate decisions in recent history. Funding for America’s federal services and government departments was halted on Wednesday, causing [...]
Andrew Bailey slams Trump’s ‘dangerous’ threats against US Federal Reserve Economics Bank of England Governor Andrew Bailey has said he is “very concerned” about President Trump’s threats against the US Federal Reserve. In a hearing before the Treasury Select Committee, Bailey said the threat to the Fed’s independence was a “very serious situation”. The Governor said he was worried about attempts to “trade off” monetary and [...]
Pound edges up against dollar after Trump’s latest Fed attack Economics The pound gained from a turbulent US dollar trading session on Tuesday after the greenback was stung by President Donald Trump’s attacks on the Federal Reserve. The dollar index (DXY) – which tracks the dollar’s value against a basket of currencies – tumbled as much as 0.4 per cent as Trump said he had “sufficient [...]
Trump says he will fire Federal Reserve governor August 26, 2025 President Donald Trump has said that he is firing Federal Reserve governor Lisa Cook. The unprecedented move would constitute a sharp escalation in his battle to exert greater control over what has long been considered a financial institution independent from day-to-day politics. Mr Trump said in a letter posted on his Truth Social platform that [...]
Dovish Powell hints at more rate cuts in US August 22, 2025 The Federal Reserve is likely to cut US interest rates at its next decision in September, Jay Powell has said, despite the country’s softening labour market being in conflict with upward pressure in prices from Donald Trump’s tariffs. In an eagerly anticipated address at the Jackson Hole symposium, the Fed chair highlighted slower economic growth, [...]
‘Yesterday man’: How Powell’s Fed exit will open the door to Trump August 20, 2025 With Jerome Powell’s term as chair expiring in 2026, President Trump is closing in on Fed control after months of animosity, says Helen Thomas The great central banker jamboree takes place this weekend at Jackson Hole, Wyoming.This annual symposium organised by the US Federal Reserve brings together the top mindsin economic academic thought – and [...]
The 24-second news cycle has killed off silly season August 12, 2025 In a media landscape fuelled by outrage, the news cycle has no more room for fun or nuance, writes Adam Taylor
Wall Street banking giants ride tariff rebound to booming revenue July 16, 2025 Wall Street’s banking titans have rounded off second-quarter earnings seasons largely breezing past analyst expectations as revenues boomed on the back of market volatility. The lenders continued a trend from the first-quarter with strong trading and investment banking revenues driving a robust performance. JP Morgan pocketed $45.7bn in revenue, outperforming its $44bn estimate. This came [...]
Trump’s renewed Fed attacks help pound climb to three-year high June 26, 2025 The pound has stormed to its highest level against the dollar in over three years after President Donald Trump launched a new tirade of attacks on the Federal Reserve. Sterling rose over 0.6 per cent to near $1.3725 as Trump indicated he was lining up successors for the Fed’s chair Jerome Powell, despite Powell’s term [...]
Dollar weakens as ‘confidence in US assets continues to erode’ June 17, 2025 The US dollar’s traditional safe-haven status has continued to take a bruising, as investors shun the currency amid rising global tensions. The dollar index (DXY) – which tracks the dollar’s value against a basket of currencies – has tumbled to around 98, compared to nearly 110 at the beginning of the year, as the currency [...]