Major Central Banks Issue Joint Statement Backing Fed Chair Powell
Global central banks issued a joint statement backing Fed Chair Jerome Powell and reaffirming support for monetary policy independence.
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Global central banks issued a joint statement backing Fed Chair Jerome Powell and reaffirming support for monetary policy independence.
Gold surged past $4,600 an ounce for the first time as investors rushed into safe-haven assets amid mounting political pressure on the Federal Reserve and escalating geopolitical tensions.
U.S. prosecutors have launched a criminal investigation into Federal Reserve Chair Jerome Powell over disclosures tied to a headquarters renovation, escalating political pressure on the central bank amid rate policy tensions.
The Federal Reserve is expected to issue a third straight rate cut while warning that further easing may be limited, as officials remain split over slowing job growth and stubborn inflation.
The Federal Reserve lowered its benchmark rate by 0.25% to 4.00%–4.25%, its first step in a projected series of cuts as job growth slows and inflation stays high.