OECD Sees Bank of Japan Raising Interest Rates to 2% by 2027 
RBA Raises Interest Rates to 4.35% Amid Rising Inflation Risks and Middle East Tensions 
South Korea Central Bank Signals Inflation Concerns as Oil Prices Surge 
Rubio Discusses Iran Crisis and Strait of Hormuz Disruptions With UK and Australia 
ECB Signals Possible Interest Rate Move if Inflation Outlook Fails to Improve 
Trump Says China to Boost U.S. Oil Imports After Xi Talks 
Japan Considers Extra Budget Aid Amid Rising Fuel and Utility Costs 
Nvidia’s China AI Chip Sales Remain Frozen Despite U.S. Approval 
Trump Pushes China Market Access During High-Stakes Xi Summit 
Kevin Warsh Advances Toward Fed Chair Role Amid Political Tensions 
Bank of England Set to Hold Interest Rates as Inflation Risks and Iran War Impact Loom 
US-China Trade Talks Begin in South Korea Ahead of Trump-Xi Beijing Summit 
Wall Street Futures Rise Ahead of Trump-Xi Summit as Tech Stocks Lead Market Rally 
Taiwan Independence Debate: China, U.S., and Taipei Tensions Explained 
Pentagon Halts Planned U.S. Troop Deployment to Poland Amid Europe Force Review 
US Stock Futures Slip as Iran Tensions and Hot Inflation Data Pressure Wall Street 
U.S. President Donald Trump said he is not planning to fire Federal Reserve Chair Jerome Powell but refused to rule it out, intensifying criticism over Powell’s reluctance to cut interest rates. Speaking Wednesday, Trump labeled Powell a “terrible” chair and blamed him for keeping rates in the 4.25%-4.50% range amid rising inflation from Trump’s tariff policies.
Earlier, a Bloomberg report suggesting Powell’s imminent dismissal triggered market volatility—stocks fell, the dollar dipped, and Treasury yields jumped. Trump denied the report but confirmed he discussed Powell’s removal with GOP lawmakers. While reaffirming the Fed's independence, Trump hinted Powell could be removed for cause, referencing unproven allegations tied to a $2.5 billion renovation of the Fed’s headquarters.
Powell, first appointed by Trump in 2017 and reappointed by President Biden, has stated he will serve his term through May 2026. Legal precedent prevents firing a Fed chair over policy disagreements, requiring clear misconduct or cause. The Supreme Court recently upheld this interpretation.
Trump’s repeated attacks have alarmed economists and lawmakers. Republican Senator Thom Tillis warned that firing Powell would undermine the Fed’s independence and global market confidence. Senate Majority Leader John Thune and House Financial Services Chair French Hill dismissed the likelihood of Powell’s dismissal.
Amid the controversy, Powell asked the Fed’s inspector general to review the renovation project after Trump’s budget chief accused him of wasteful spending. The Fed publicly disputed these claims.
Economists like JPMorgan’s Michael Feroli warned that weakening the Fed’s autonomy could stoke inflation fears and increase borrowing costs. Meanwhile, speculation about Powell’s successor grows, with Treasury Secretary Scott Bessent and Fed Governor Christopher Waller among the rumored candidates.
Trump’s pressure campaign risks destabilizing the Fed at a critical economic juncture.
