Fed chair Jerome Powell struck a dovish tone at the Jackson Hole symposium Friday, signalling a shift in policy focus toward supporting a softening labour market, rather than preemptively tightening to curb inflation.While he did not explicitly commit to a rate cut, his remarks were seen as opening the door…
BlackRock’s iShares Bitcoin Trust (IBIT) has achieved a landmark milestone in the cryptocurrency sector, surpassing some of the largest corporate and exchange holdings of Bitcoin to become the world’s second-largest holder, trailing only the pseudonymous creator Satoshi Nakamoto.Rapid growth since launchLaunched in January 2024, the IBIT ETF has quickly established…
Luxury EV maker Lucid said Thursday evening it will carry out a 1-for-10 reverse stock split, effective September 2 in a move that will shrink its outstanding share count and elevate its per-share price. The reverse stock split will reduce Lucid’s outstanding shares from 3.07 billion to 307.3 million, pushing…
The FBI raided the home of John Bolton, former US national security adviser and outspoken critic of Donald Trump, on Friday morning in Washington DC. The search was carried out as part of an investigation into the handling of classified documents, according to the Associated Press, which cited an unnamed…
Argentine president Milei’s administration suffered a major legislative blow after the Senate rejected a dozen presidential decrees at once and passed spending increases for public universities, highlighting the difficulties that Milei’s austerity government will face.Since assuming office in December 2023 and vowing to drastically reduce state expenditures and rein in…
Federal Reserve Chair Jerome Powell on Friday offered a guarded signal that interest rate cuts could be considered in the coming months, but emphasised the significant uncertainty facing monetary policymakers. Speaking at the Fed’s annual economic symposium in Jackson Hole, Wyoming, Powell said that a shifting balance of risks is…
At the 2025 Jackson Hole Symposium, Fed Chair Jerome Powell addressed the effects of President Trump’s tariffs on the US economy. He noted that the tariffs are already pushing up consumer prices and expects the impact to continue over the next few months. Powell called it “reasonable” to see this…
President Donald Trump escalated his pressure campaign on the Federal Reserve Friday, vowing to fire Governor Lisa Cook if she does not resign. The threat comes amid allegations of mortgage fraud leveled against Cook by Federal Housing Finance Agency Director Bill Pulte, a close ally of Trump.Speaking to reporters during…
Canada is set to remove a number of retaliatory tariffs on US goods, a move that comes after months of rising trade tension with Washington. As per a Bloomberg report, Prime Minister Mark Carney is expected to make the announcement after a cabinet meeting. The rollbacks cover many products under…
From Wall Street’s surge on Powell’s rate-cut hints to Canada’s softer line on US tariffs and Donald Trump’s push for $2 billion to overhaul Washington, it’s been a busy day across finance and politics. Here are the biggest news stories that made headlines today.Powell signals possible rate cuts as Wall…