The Latest Breaking News from Jerome Powell

ANALYSIS: New trade agreement is more of a way for him to save face than an all-encompassing deal, writes Eric Garcia

Trump previously said he could remove Powell “real fast,” but has since backed down.

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Jerome Powell has fought hard to keep the Fed out of political narratives, and said he would never request a meeting with President Trump.

The Federal Reserve kept its key interest rate unchanged on Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of both higher unemployment and higher inflation have risen, an unusual combination that puts the central bank in a difficult spot.

Asian shares are rising moderately after a lackluster finish on Wall Street, with most shares ticking higher after the Federal Reserve left its main interest rate unchanged, as was widely expected

Asian stocks extended their rally Thursday on hopes for an easing of trade war tensions as China and the United States prepare for weekend talks and after Donald Trump flagged a "major trade deal" later in the day.

Hopes of a potential trade deal between the US and UK have helped Australian shares rebound from an early dip, but investors remain cautious.

The Fed chair noted that Trump's upcoming tariffs could lead to inflation and increased unemployment