The Latest Breaking News from Jerome Powell

Asian stocks rallied with Wall Street on Wednesday after Donald Trump said he had "no intention" of firing the head of the Federal Reserve and that eye-watering tariffs on China would be slashed drastically.

Donald Trump said Tuesday he had no intention of firing the chair of the US Federal Reserve and signalled a "substantial" lowering of tariffs on China -- moves that brought relief to global markets spooked by his aggressive policies.

According to the president, the U.S. economy will begin to slow down unless the Fed “lowers interest rates, NOW.”

THE INDEPENDENT VIEW: Editorial: The IMF’s downgrade of global growth forecasts, a direct result of US tariffs, will only add to the pressure on chancellor Rachel Reeves to make the case during her visit to Washington for a fabled US-UK free trade agreement

Economists recently echoed concerns of global financial uncertainty and say a recession is more likely.

Bitcoin ETFs pulled in $381 million on Monday as the U.S. dollar weakened.

Markets are soaring after Bloomberg reported on Tuesday that Treasury Secretary Scott Bessent said the tariff standoff with China is unsustainable

The FTSE 100 finished up by 0.64%, or 52.94 points, to close at 8,328.6.

Jerome Powell is a soft target for the president amid economic instability. But getting rid of him would only invite more chaos