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The Latest Breaking News from Jerome Powell

Global markets rally after Trump walks back Powell attacks and Bessent looks for China 'de-escalation'

Investor optimism built off Bessent's remarks went into overdrive after President Donald Trump told reporters in the Oval Office that he had "no intention" of firing Fed Chair Jerome Powell.

Fortune

Stocks Set to Extend Rally on Fed Reprieve and Trade Optimism, U.S. PMI Data and Earnings in Focus

June S&P 500 E-Mini futures (ESM25) are up +2.01%, and June Nasdaq 100 E-Mini futures (NQM25) are up +2.51% this morning, extending yesterday’s rally as sentiment got a boost after the Trump administration’s move to alleviate some of the tensions unsettling investors.

Barchart

Donald Trump says he has 'no intention of firing' Fed chair Jerome Powell

The US President confirmed that he has no plans to fire the Chairman of the Federal Reserve Jerome Powell. It follows his previous statement about wishing to terminate Powell's mandate, which caused market turmoil.

Euronews

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Markets rebound as Trump signals cutting China tariffs 'substantially'

Global stock markets experienced a relief rally after US Treasury Secretary Scott Bessent indicated that high tariffs were not sustainable, raising hopes for a de-escalation in the US–China trade war. President Trump confirmed the stance and signalled that tariffs on China would be cut.

Euronews

Rupert Murdoch’s newspaper again flames Donald Trump for historic economic bungle

Then he tried to make it worse with threats to fire Federal Reserve chairman, which sent the market spiraling

The Independent UK

Bitcoin Skyrockets To $93K, Targets $100K Amid Expected Trump Trade War Cool-Off

Bitcoin is on its way to $100,000, resuming the cryptocurrency's uptrend movement amid rising hopes for Trump's global trade war to ease up in the coming days.

International Business Times

Asian Markets Rally As Trump Comments Ease Fed, China Trade Fears

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.

International Business Times

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Trump Says Won't Fire Fed Chief, Signals China Tariffs Will Come Down

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.

International Business Times

Trump backs off threat to fire Fed Chair Powell, as stock market surges

Wall Street rallies after US Treasury Secretary says trade war with China ‘unsustainable’.

Al Jazeera

Trump says China tariffs will drop ‘substantially – but it won’t be zero’

US president says tariffs on imported goods will come down from 145% rate but insists ‘we’re doing fine with China’

The Guardian - UK

Trump Says Has 'No Intention' Of Firing Fed Chief

US President Donald Trump said Tuesday he had no plans to fire the Federal Reserve chief, in apparently conciliatory remarks after berating him and triggering market turmoil.

International Business Times

Trump says he has no plans to fire Fed chief Jerome Powell after calling him a ‘major loser’

President says tariffs on China could be lowered days after lashing out over bank’s reluctance to cut interest rates

The Guardian - US

Trump Rages at the Fed Over Interest Rates

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

Reason

It’s official – Donald Trump is bad for the world economy

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

The Independent UK

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Al Jazeera

IMF warns Trump tariffs are fuelling uncertain global economic outlook

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

Fortune

Bitcoin ETFs clock highest inflows since January as Bitcoin reclaims $90,000

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

Latin Times

Markets Soar As Treasury Secretary Reportedly Says Tariff Standoff With China Is Unsustainable And Set To De-Escalate

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

Evening Standard

FTSE 100 makes further gains as Wall Street rebounds

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

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The Guardian - UK

Even Trump must know that firing the chair of the Fed would be self-defeating

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

Latin Times

Executives Will 'Stand Up' to Trump, Business Professor Predicts as Stock Market Takes Another Tumble

As Trump's tariff battles and attacks on the Fed agitate markets, business professor Scott Galloway predicts that high-profile executives will soon speak out.

Fortune

If Trump fires Jerome Powell and replaces him with someone more politically pliant, 'it could be something that backfires on Trump spectacularly,' researcher says

It’s also unclear how much interest rate cuts can "stem the bleeding" from tariffs, Renaissance Macro’s Neil Dutta said.

International Business Times

ECB's Lagarde Hopes Trump Won't Fire US Fed Chief Powell

European Central Bank chief Christine Lagarde said Tuesday that she hoped US President Donald Trump would not oust the country's central bank boss Jerome Powell prematurely.

The Independent UK

Gold soars to a new high as economic uncertainty deepens. Here's what to know

As economic uncertainty deepens worldwide, gold prices keep hitting record after record

Euronews

Gold price hits record high: What’s behind the precious metal’s rally?

Gold prices have surged almost 31% so far this year already, driven by rising safe haven demand and an increasingly volatile global economy.

Latin Times

Trump Could Cross An Economic Red Line For Wall Street As Markets Tank

Trump is further rattling markets by demanding Fed Chair Jerome Powell cut rates and discussing removing him despite the central bank's independence

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