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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 25

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 25

US Federal Reserve policymakers voted to keep interest rates unchanged at a range between 4.25-4.5% at their last meeting

US Fed more concerned with inflation risk than jobs

A majority of Federal Reserve officials found that risks surrounding US inflation outweighed those to employment, minutes of a recent policy meeting showed - underscoring a central bank divide over the effects of President Donald Trump's tariffs.

Business • 21 Aug 25

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 25

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 25

US consumer prices increase moderately in July

US consumer prices increased moderately in July, though rising costs for goods because of import tariffs led to a measure of underlying inflation posting its largest gain in six months.

Business • 12 Aug 25

Picture of Stephen Miran who has been nominated by US President Donald Trump to the board of the US Federal Reserve

Trump's nominee for the Fed wants to overhaul it

Having railed against the "revolving door" between the executive branch and the US Federal Reserve, Council of Economic Advisers Chair Stephen Miran may now be walking through it after President Donald Trump nominated him to the Board of Governors of an institution Miran would like to radically over

Business • 08 Aug 25

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 25

US job growth slows sharply in July, unemployment rises

US job growth slowed more than expected in July while the previous month's data was revised sharply lower, pointing to a sharp moderation in the labour market.

Business • 01 Aug 25

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 25

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 25

US economy returns to growth in Q2 on tariff turbulence

The US economy returned to growth in the second quarter, government data showed today, as analysts warned of distortions due to shifting trade flows over President Donald Trump's tariffs.

Business • 30 Jul 25

Photo shows Donald Trump pointing at a piece of paper held by Jerome Powell during a disagreement over Federal Reserve renovation costs

Watch: Trump and Powell spar over Fed renovation costs

US President Donald Trump and Federal Reserve Chairman Jerome Powell sparred face to face over the cost of renovations of the central bank's Washington headquarters, with the Fed leader saying the president was wrong about the cost of the overhaul.

US • 25 Jul 25

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 25

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 25

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 25

US consumer prices increase as expected in June

US consumer prices picked up in June, likely marking the start of a long-anticipated tariff-induced increase in inflation that has kept the Federal Reserve cautious about resuming its interest rate cuts.

Business • 15 Jul 25

The US Federal Reserve last month voted unanimously to leave rates unchanged

Fed minutes show little support for interest rate cut

Only "a couple" of officials at the US Federal Reserve's June 17-18 meeting said they felt interest rates could be reduced as soon as this month, with most policymakers remaining worried about the inflationary pressure they expect to come from President Donald Trump's tariffs.

Business • 10 Jul 25

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 25

US consumer spending slows in April, inflation edges up

US consumer spending increased marginally in April as a rush to beat higher prices from import duties slowed.

Business • 30 May 25

The US Federal Reserve has a dual mandate to act independently to tackle both inflation and unemployment

US firms plan to pass tariff costs to consumers - Fed

US firms have warned the Federal Reserve that the cost of President Donald Trump's tariffs will likely be borne by consumers, according to minutes of the bank's most recent rate decision.

Business • 29 May 25

The consumer price index increased 0.2% last month after dipping 0.1% in March - the first decline since May 2020

US consumer prices rise moderately in April

US consumer prices rebounded moderately in April, but inflation is likely to pick up in the coming months as tariffs boost the cost of imported goods.

Business • 13 May 25

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 25

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 25

The continued attacks on Jerome Powell increased worries about the Federal Reserve's independence

US stocks fall amid continuing Trump attacks on Fed chair

US stocks have suffered steep losses as US President Donald Trump ramped up his attacks on Federal Reserve Chair Jerome Powell, prompting investors to worry about the central bank's independence even as they grapple with the effects of Mr Trump's ongoing, erratic trade war.

Business • 22 Apr 25