US Fed chair won’t resign if Trump demands

US Fed chair won’t resign if Trump demands

US Federal Reserve Chairman Jerome Powell has said he will not resign if asked to by incoming President Donald Trump. He was speaking after the Fed dropped interest rates by another quarter of a percentage point. As Nick Harper reports from Washington.

November 8, 2024 15

Business / Economics

Local economist provides his perspective on the U.S Fed’s move to cut interest rates

The U.S. Federal Reserve has implemented a significant half-percentage-point interest rate cut, exceeding typical reductions. According to Reuters, Federal Reserve Chair Jerome Powell stated the decision underscores policymakers' commitment to maintaining low unemployment as inflation continues to ease. Local economist Gabriel Erastus also provided his perspective on the move.

September 23, 2024 12

World

Asian markets drop as traders temper rate cut bets

Stocks fell Tuesday, extending the sell-off seen on Wall Street, with analysts warning November's rally fuelled by bets on interest rate cuts may have gone too far, forcing traders to take a step back. Markets surged last month as data pointing to slowing inflation and softer job markets combined with a dovish turn by Federal Reserve officials to stoke expectations they will next year begin loosening monetary policy. Those hopes […]

December 5, 2023 3