US President Trump renewed his criticism on Thursday of Federal Reserve chair Jerome Powell, complaining the Fed is refusing to lower interest rates. Trumpsaid cutting interest rates would be “like jet fuel” for the economy “but he doesn’t want to do it”. He said Powell is “not in love with me”. Fed this week kept […]
The Trump administration is expected to announce a significant reduction in tariffs on Chinese imports—possibly as early as next week—just as American and Chinese trade officials gather in Switzerland for key negotiations. Sources told The Post that current tariffs of 145% on Chinese goods could be lowered to between 50% and 54%, a rate seen […]
European Union (Photo: ANI) BRUSSELS: The European Union published on Thursday a list of US imports that it would target with retaliatory duties if no solution is found to end US President Donald Trump’s tariff war, which could include aircraft maker Boeing.At the same time, the EU’s executive branch, the European Commission, said that it […]
Bank of England (File Photo AP) LONDON: The Bank of England is widely expected to look past near-term inflationary pressures in the British economy and opt to cut interest rates on Thursday as a result of the potential shock to growth emanating from the tariff policies of the Trump administration. Most economists believe it’s a […]
File photo: US federal reserve chair Jerome Powell (Picture credit: AP) US Federal Reserve Chair Jerome Powell on Wednesday warned that US President Donald Trump’s escalating and uncertain tariff policies could force the central bank into a difficult position where its key objectives, low inflation and maximum employment, might come into conflict. “I think there’s […]
There has been a mantra spreading among weary corporate executives who are becoming resigned to President Trump’s tariffs while still hoping to avoid the worst of their effects: Ten percent is the new zero. The statement refers to the 10 percent tariff that Mr. Trump put in place on most U.S. imports one month ago. […]
A man with an umbrella passes by China’s central bank also known as People’s Bank of China, in Beijing. (Picture credit: AP) China’s central bank rolled out major monetary easing measures on Wednesday, slashing a key interest rate and lowering the reserve requirement for banks as the economy reels under the pressure of renewed US […]
The head of Airbus said on Tuesday that Europe should impose tariffs on imports of Boeing aircraft if negotiations over US President Donald Trump’s trade war fail.Trump has rolled out a “baseline” levy of 10 percent on goods from around the world but he has suspended a higher tariff of 20 percent on European Union […]
Liu Miao has sold clothing on Amazon to wholesale buyers in the United States for the past five years. That trade has come to an abrupt stop. Mr. Liu owns a small factory in Guangzhou, long the center of China’s highly competitive garment industry. He and other factory managers, already dealing with tight profit margins, […]
Donald Trump says he won’t fire Fed chair Jerome Powell (File photo) US President Donald Trump announced on Sunday that he will not remove Jerome Powell as Federal Reserve board chairman before his term ends in May 2026 while describing the central banker as “a total stiff” and repeating calls for the Fed to lower […]
