The Latest Breaking News from Jerome Powell

Trump tariffs could prove to be the pin that pops the bubble on Fed cuts next year.

Donald Trump will nominate Scott Bessent to replace Janet Yellen as Treasury secretary, with markets buoyed by comments on tariffs.

A warning from US central bank boss Jerome Powell that reductions in borrowing costs were not preset dented optimism last week, while traders were also keeping tabs on the president-elect's cabinet choices, with several China hawks lined up.

Shares are mixed in Asia after U.S. stocks fell to their worst loss since Election Day

Asian markets were mixed Monday following a sell-off on Wall Street as investors scale back their bets on Federal Reserve interest rate cuts owing to worries Donald Trump could reignite inflation.

The Trump trade waned somewhat with the key indexes retreating for the week. Shopify was a big earnings winner, while bitcoin kept surging.

October retail sales were solid after in-line inflation data and Jerome Powell's comments casting doubt on Fed rate cuts. The S&P 500 fell.

The uncertain performance came at the end of a painful week fuelled by worries about another disruptive China-US trade war.

December S&P 500 E-Mini futures (ESZ24) are down -0.58%, and December Nasdaq 100 E-Mini futures (NQZ24) are down -0.90% this morning after Federal Reserve Chair Jerome Powell indicated the central bank was in no rush to lower interest rates, while investors geared up for a flurry of U.S. economic data,…