5 h. ago Federal Reserve cuts rates by quarter point and signals more to come

US central bank’s first reduction in borrowing costs this year comes amid growing worries about labour market weakness

Politics

5 h. ago Federal Reserve cuts US interest rates for first time since December

Central bank moves to set rates at range between 4 and 4.25% but decision unlikely to satisfy Donald TrumpThe US Federal Reserve cut interest rates on Wednesday, its first rate cut since December, as the central bank moved to stabilize a wobbling labor market even as Donald Trump’s tariffs continue to push up prices.Rates are now at a range of 4% to 4.25% – the lowest since November 2022. But the decision is unlikely to satisfy Trump, who has lambasted the Fed for acting “too late” and called for a far bigger cut. Continue reading...

Politics

6 h. ago Federal Reserve cuts interest rates for first time in nearly a year, from 4.25% to 4% – live updates

Quarter point reduction comes amid concern of political pressure on the independent central bank from the Trump administrationIn economic projections released after the Fed’s rate-cute decision, members of the Fed’s board submitted their economic predictions for the economy over the next few years.A slight majority of board members seem to expect another rate cut by the end of the year, while a majority see more rate cuts in 2026. Board members are predicting a slight increase in unemployment, though they seem to think that inflation will largely cool in 2026 and 2027. Continue reading...

Politics

6 h. ago Jerome Powell finally does it: Federal Reserve cuts interest rates a quarter of a percent

The rate cut comes as Trump stages an unprecedented assault on independence of the Federal Reserve

Politics

15 h. ago The Federal Reserve wrestles with how many interest rate cuts to make and how fast

With the Federal Reserve widely expected to reduce its key interest rate by a quarter-point to about 4.1%, economists and Wall Street investors will be looking Wednesday for signs of how deeply the Fed might cut rates in the next few months

Politics

17 h. ago UK overall inflation remains at 3.8% in August, but food price growth climbs for fifth month in a row

Food prices rise at fastest rate since January 2024 with vegetables, milk, cheese and fish going up; Bank of England expected to keep interest rates on hold on ThursdayAt 3.8%, the latest UK inflation data certainly isn’t welcome news for the Bank of England ahead of its decision on Thursday, where it’s widely expected to leave rates on hold, said James Smith, developed markets UK economist at ING.Yet the latest data doesn’t dramatically move the needle one way or another on the prospect of a further rate cut later this year.Inflation is more or less at a peak, though it’s likely to stay in the 3.5-4% area for the rest of this year.However, we think there is still scope for services inflation to undershoot the Bank’s forecasts further in the next release for September. And more broadly, we are seeing a significant easing in rental growth, which is set to be a significant source of service sector disinflation over the coming months.If we’re right about that, it would tip the balance ...

Economics

21 h. ago Asian benchmarks are mixed after Wall Street edges down from record highs

Asian shares are trading mixed after U.S. stocks edged down from record highs and as market focus turned to expectations for the Federal Reserve’s first interest rate cut of the year

Politics

47 h. ago Court stops Trump’s attempt to fire Fed Board Governor Lisa Cook

Ruling allows Federal Reserve official to participate in key rate-setting meeting this week

Events

47 h. ago Trump official confirmed to Fed board but court rejects Lisa Cook removal bid

Senate votes 48-27 to confirm Stephen Miran as Fed governor but court rules Cook may remain in placeSenate Republicans voted on Monday to confirm a senior Trump official to the Federal Reserve’s board of governors as the White House raced to strengthen the US president’s control over the central bank ahead of its latest meeting.Hours before Fed policymakers convene for their September decision on interest rates, the Senate voted 48 to 27 to confirm Stephen Miran – already chair of Donald Trump’s council of economic advisers – as a governor. Continue reading...

Politics

4 d. ago Federal Reserve Governor Lisa Cook confirms second home status amid Trump fraud claims

Cook sued the Trump administration to block her firing following a row with the US President

Politics

5 d. ago Fed Governor Lisa Cook claimed 2nd residence as 'vacation home,' undercutting Trump fraud claims

Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a “vacation home” in a loan estimate

Politics

6 d. ago Trump administration requests emergency ruling to remove Cook from Fed board

The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday, before the central bank’s next vote on interest rates

Politics

7 d. ago Trump suffers blow in bid to fire Federal Reserve governor as judge rules Lisa Cook can stay during fight

Board member’s legal challenge to president’s attempted ouster supported by district court justice

Events

7 d. ago Asian shares mostly rise, cheered by Wall Street rally to more records

Asian shares are mostly higher, echoing the record rally on Wall Street after the latest update on the job market bolstered hopes the U.S. Federal Reserve will cut interest rates

Politics

7 d. ago Lisa Cook to remain at Federal Reserve while fighting Trump’s attempt to fire her, judge rules

Agency governor is legally challenging Trump after he sought to remove her, citing unconfirmed mortgage fraud allegationsA federal judge has ruled that Federal Reserve board member Lisa Cook can stay in her post while suing Donald Trump over his unprecedented bid to fire her.Cook is legally challenging the US president after he sought to remove her, citing unconfirmed allegations of mortgage fraud, amid an extraordinary campaign by his administration to strengthen its control over the US central bank. Continue reading...

Events

1 week ago The ‘bizarre’ referral of the US housing finance agency chief to oust Lisa Cook

Former officials and experts say Bill Pulte’s request for inquiry into Fed governor’s alleged fraud is ‘unusual’The head of the Federal Housing Finance Agency embraced a highly unusual process to accuse Lisa Cook, a Federal Reserve governor, of committing mortgage fraud, former officials and experts have said. One former high-ranking official called the director’s involvement in a criminal referral “bizarre”.William Pulte, a businessman and major GOP donor whom Donald Trump appointed to head the powerful housing agency earlier this year, has accused Cook of committing mortgage fraud by misrepresenting her homes as a primary residence, potentially securing more favorable mortgage rates. The justice department formally opened a criminal investigation into whether Cook committed fraud and has issued subpoenas related to the transaction. Cook’s lawyers have called the discrepancies a “clerical error” and she has denied any wrongdoing. Continue reading...

Politics

1 week ago US adds just 22,000 jobs in August as labour market sputters

Lower than expected figure opens door to aggressive Federal Reserve rate cuts

Politics

1 week ago The Latest: US employers added just 22,000 jobs last month amid uncertainty over Trump’s policies

U.S. employers added just 22,000 jobs last month as the labor market continued to cool under uncertainty over President Donald Trump’s economic policies

Politics

1 week ago 'Lightning fast' Android phone gets £200 cut as it drops to its 'lowest price'

'I think it's as good as the Samsung S25 and in some areas better.'

Economics

1 week ago US justice department opens criminal inquiry into Fed governor Lisa Cook

Officials to investigate claims of mortgage fraud against Cook, who has refused to accept firing by Donald TrumpThe US justice department has initiated a criminal investigation into mortgage fraud claims against Federal Reserve governor Lisa Cook as a lawsuit she filed against Donald Trump over her firing makes its way through court.Lawyers with the justice department have issued subpoenas for the investigation, according to the Wall Street Journal, who first reported the investigation, which has since been confirmed by multiple news publications. Continue reading...

Society