22:34 2025-04-22
Standard Chartered: Firing Powell would hurt the dollar and boost safe-haven assetsSteven Englander, strategist at Standard Chartered in New York, said that if US President Donald Trump followed through on his threat to fire Federal Reserve chairperson Jerome Powell, it would cause inflation to rise, weaken the dollar and prompt money to flock to the euro, yen and Swiss franc. "Attempting to remove (or precipitate) Powell could lead to a significant increase in real risk premiums across inflation, the Treasury yield curve and other dollar asset markets," he said on April 2.
22:28 2025-04-22
Federal Reserve official Kashkari: We must ensure that tariffs do not cause persistent inflationNeel Kashkari, president of the Minneapolis Fed, said the Fed had a responsibility to ensure that tariffs did not cause a persistent inflation problem, echoing recent comments by Fed chairperson Jerome Powell. "We're just not sure right now whether this is a one-time effect or a long-term effect on inflation," Mr. Kashkari said at a US Chamber of Commerce event in Washington on Tuesday. "Our job at the Fed is to make sure this is not a longer-term effect."
22:28 2025-04-22
Trump: The huge trade losses caused by the Biden administration will be gone foreverPresident Trump said that in the last year of Biden's term, we lost $5 billion a day, and what they did on trade was a disaster. And now, that number is much lower because we got 25% tariffs from the auto industry, 25% tariffs from the steel and aluminum industries, and the base tariff is 10%. We lost almost $2 trillion on trade. But those days are over, and we won't let them happen again. We won't allow that to happen again.
21:55 2025-04-22
Trump: No intention of firing Powell, calls on Federal Reserve to cut interest ratesUS President Donald Trump said at the swearing-in ceremony of Securities and Exchange Commission Chairperson Atkins on Tuesday that he had no intention of firing Federal Reserve Chairperson Jerome Powell, despite being disappointed that the central bank did not cut interest rates more quickly. "Never," Mr. Trump told reporters. "The press always messes things up. I'm not going to fire him. I'd like to see him be more positive about the idea of lowering interest rates....