When he was confirmed, Democratic lawmakers had said Warsh would be Trump’s “sock puppet” and many Fed watchers expected him to carry out Trump’s persistent demands to slash rates. Trump had been heavily critical of Warsh’s predecessor Jerome Powell for not cutting them. Asked on Wednesday about the message the rate hike sent to Trump,…
DEVELOPING STORYDEVELOPING STORY, The 25 basis-point hike is the first raise in three years and comes ahead of critical midterm elections in the United States. The United States Federal Reserve has said it will raise interest rates by a quarter of a percentage point as inflation, driven by soaring fuel prices amid the US-Iran war,…
A television station broadcasts Kevin Warsh, chairman of the US Federal Reserve, speaking after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, July 29, 2026. Michael Nagle | Bloomberg | Getty Images Hello, this is Hui Jie writing to you…
President Donald Trump delivers remarks during a meeting with cryptocurrency executives in the Roosevelt Room of the White House in Washington, Aug. 19, 2026. Jim Watson | AFP | Getty Images President Donald Trump on Wednesday expressed frustration that the Federal Reserve isn’t cutting interest rates, insisting that solid economic data shouldn’t stop the central…
Germany is deepening its footprint across Africa, as Foreign Minister Johann Wadephul embarks on his third trip to the continent in 2026. His top-level talks will focus on security, skills development and investment. Wadephul is currently visiting Nigeria as part of a multi-country trip across Africa, after a major stopover in Mauritania, and before making…
“Even if the situation remains unclear, should it be judged that upside risks to prices outweigh downside risks to economic activity, it will be necessary to thoroughly discuss the pros and cons of raising the policy interest rate,” Ueda earlier this month.
When interest rates rise, most people feel the financial pinch as repayments for home loans, car purchases or personal loans increase. This leads to less money for everyday spending and tightens the household budget. Middle- and upper-income households tend to hold secured debt such as property, which builds wealth. Lower-income households are pushed into debt…
Imagine it’s 2036. Unemployment has been halved, business confidence is robust, and millions of small and medium-sized enterprises are powering sustainable growth. South Africa finally looks like a country realising its potential. At the heart of this shift is a simple but transformative change: the widespread adoption of PayShap, a low-cost instant payment system that…
JPMorgan Chase CEO Jamie Dimon pushed back on calls by the administration of United States President Donald Trump to cap credit card interest rates, claiming that if Congress follows through, it would result in an “economic disaster”. Dimon made his comments on Wednesday at the World Economic Forum in Davos, Switzerland. Recommended Stories list of…
Reuters A person of interest has been detained in connection with a US shooting at Brown University that left two people dead, police said. Nine others were injured when a gunman opened fire at the university in Providence on Saturday. Police confirmed on Sunday a person had been detained, and an earlier order for people…
