Trump, Powell and Fed Rate
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President Donald Trump’s attacks on Federal Reserve Chair Jerome Powell are so commonplace at this point that they barely register in financial markets these days. The rapidly intensifying multi-pronged efforts by Trump’s advisers to amplify and expand on Trump’s attacks are a good reason to rethink that indifference.
President Donald Trump on Friday again came to the defense of Brazil's former president Jair Bolsonaro, who is charged with trying to overturn his 2022 election loss. Trump was asked if he was going to talk with Brazil's leader after hitting the nation with import taxes of 50%.
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Powell has said politics don't play a part in Fed rate decisions. He and his colleagues have held the key overnight borrowing rate in place since December, though markets largely expect a cut is on the way not at the Fed's July meeting, but in September.
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White House budget director Russell Vought said in a social media post that Jerome Powell 'has grossly mismanaged the Fed' as he published a letter sent to the central bank chairman raising concerns about renovations of the institution's Washington offices.
Wakefield Trinity's Daryl Powell says comments made by Hull FC counterpart John Cartwright at half-time influenced the referee.
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President Trump is putting pressure on Federal Reserve Chairman Jerome Powell to lower interest rates, and has been critical of the Fed’s $2.5 billion office renovation.
Also in today’s newsletter, Reeves puts reform of UK cash ISAs on hold and Google is to agree cloud discount with US government