News | Latest Breaking News Stories & Headlines

US Federal Reserve signals pause on rate cuts

After three consecutive interest rate cuts, investors now confront an uncertain US monetary policy outlook for the year ahead, clouded by persistent inflation, data gaps, and an impending leadership change at the Federal Reserve.

Business • 11 Dec

US Federal Reserve chief Jerome Powell's term ends in May

Trump may name new Fed chair before Christmas - Bessent

US Treasury Secretary Scott Bessent said today there was a very good chance President Donald Trump would announce a new chairman of the Federal Reserve before Christmas.

Business • 25 Nov

European Central Bank (ECB) President Christine Lagarde speaks during a press conference on Eurozone monetary policy in Florence

ECB's Lagarde replaces Fed's Powell on 2 BIS committees

European Central Bank President Christine Lagarde is to take over from Federal Reserve chief Jerome Powell as head of two of the Bank for International Settlements' key economic groups, the central bank umbrella body said today.

Business • 12 Nov

Bessent will present 3 or 4 Fed chief candidates to Trump

US Treasury Secretary Scott Bessent said today he plans to present three or four candidates to lead the Federal Reserve to President Donald Trump for him to interview sometime after Thanksgiving.

Business • 15 Oct

Fed's Powell says US economy may be on firmer footing

The US labour market remained mired in its low-hiring, low-firing doldrums in September, though the economy "may be on a somewhat firmer trajectory than expected," Federal Reserve Chair Jerome Powell said last night.

Business • 15 Oct

A woman in a light grey specked suit raises her hand at a meeting

US appeals court rejects Trump bid to oust Fed's Cook

A US appeals court has declined to allow Donald Trump to fire Federal Reserve Governor Lisa Cook - the first time a president has pursued such action since the Fed's founding in 1913 - in the latest step in a legal battle that threatens the Fed's longstanding independence.

Business • 16 Sep

US judge temporarily blocks Trump from removing Cook

A federal judge has temporarily blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, an early setback for the White House in an unprecedented legal battle that could upend the Fed's long-held independence.

Business • 10 Sep

Erosion of Fed independence would lead to inflation: Rehn

President Donald Trump's escalating attacks on the US Federal Reserve could have substantial and global knock-on effects on the financial markets and the real economy, ECB policymaker Olli Rehn said in a speech today.

Business • 28 Aug

A woman in a black suit sits at a board table

Trump moves to fire Fed governor on mortgage fraud claims

US President Donald Trump continued to increase pressure on the Federal Reserve yesterday by moving to fire Governor Lisa Cook "effective immediately", a step the independent central bank official said he had "no authority" to take.

Business • 26 Aug

Federal Reserve Chair Jerome Powell speech displayed on a tv as traders work on the floor of the New York Stock Exchange

US Fed chair leaves door open to interest rate cut

US Federal Reserve Chair Jerome Powell today pointed to a possible rate cut at the Fed's September meeting but stopped short of committing to cutting interest rates.

Business • 22 Aug

Trump again attacks Fed chair Powell

US President Donald Trump said yesterday that Federal Reserve Chair Jerome Powell is "hurting" the housing industry "very badly" and repeated his call for a big cut to US interest rates.

Business • 20 Aug

US President Donald Trump and Federal Reserve Chair Jerome Powell spar over the bank's renovation costs

Trump says may allow lawsuit against Fed chair

US President Donald Trump said today that he is "considering allowing a major lawsuit against" the US Federal Reserve chief to proceed, as he renewed pressure on Fed Chair Jerome Powell to lower interest rates.

Business • 12 Aug

Fed board should assume control if Powell won't cut:Trump

US President Donald Trump has today urged the Federal Reserve board to assume control if Fed Chair Jerome Powell continues to refuse to lower interest rates.

Business • 01 Aug

Trump renews attack on Fed chair after rates held again

The US President has attacked the head of the country's central bank again, a day after the Federal Reserve voted to keep its key lending rate steady for the fifth month in a row.

US • 31 Jul

Federal Reserve Chair Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill

US Fed keeps rates steady despite Trump's pressure

The US Federal Reserve has held interest rates steady in a split decision that gave little indication of when borrowing costs might be lowered and drew dissents from two of the US central bank's governors, both appointees of Donald Trump who agree with him that monetary policy is too tight.

Business • 31 Jul

Trump administration not in rush to replace Powell

US Treasury Secretary Scott Bessent told Bloomberg TV in an interview today that the Trump administration was not in a rush to nominate a new Federal Reserve Chair to replace Jerome Powell.

Business • 23 Jul

Bessent says Fed needs to be examined as an institution

US Treasury Secretary Scott Bessent today said the entire Federal Reserve needed to be examined as an institution and whether it had been successful.

Business • 21 Jul

The G20 is made up of 19 nations and two regional organisations and its members account for more than 80% of the world's economic output

G20 nations agree central bank independence 'crucial'

The G20 nations stressed today that central banks must remain independent, after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell.

Business • 18 Jul

Trump blames Federal Reserve board on Powell, rates

US President Donald Trump today blamed US Federal Reserve officials as he reiterated his criticisms of Fed Chair Jerome Powell and again called for lower interest rates.

Business • 18 Jul

Fed keeps rates steady but pencils in 2 cuts by 2025 end

The US Federal Reserve held interest rates steady last night and policymakers signaled borrowing costs are still likely to fall in 2025.

Business • 19 Jun

Trump again calls for Fed to cut US interest rates

US President Donald Trump has redoubled his calls for Federal Reserve Chair Jerome Powell to lower interest rates, noting that payroll processing firm ADP reported that job creation slowed in May.

Business • 04 Jun

Fed holds rates steady on risks of higher inflation

The US Federal Reserve held interest rates steady this evening but said the risks of both higher inflation and unemployment had risen, further clouding the economic outlook as it grapples with the impact of Trump administration tariff policies.

Business • 07 May

Investors know that as long as the Fed remains independent there will at least be an attempt to maintain price stability, according to Associate Professor of Economics at Trinity College Dublin Davide Romelli

Does Trump have the authority to fire Powell?

US President Donald Trump has said he has no intention of firing Federal Reserve Chair Jerome Powell - a stark change which comes just days after President Trump intensified his criticism of Mr Powell.

Business • 23 Apr

Trump says he has no plans to fire Fed's Powell

US President Donald Trump has backed off from threats to fire Federal Reserve Chair Jerome Powell after days of intensifying criticisms of the central bank chief for not cutting interest rates.

Business • 23 Apr

Gold prices soared to a record high today, hitting the crucial $3,500 mark

Gold hits $3,500 per ounce as investors flock to safety

Gold extended its record run today, breaching $3,500 per ounce, as weakness in the dollar, US President Donald Trump's attacks on the Federal Reserve and trade war fears boosted demand for the safe-haven asset.

Business • 22 Apr