Morning updates on Powell’s press conference, Big Tech earnings, U.S. dollar fluctuations, and more
Good morning! So, yesterday during his press conference, Federal Reserve Chairman Jerome Powell repeated a phrase that felt all too familiar: “I have nothing to say about that,” which he said at least five times to reporters. This morning, stock futures showed minimal changes. The major indexes wrapped up yesterday’s trading with only slight gains. […]
EUR/USD drops under 1.2000 as Fed’s decision and Powell’s comments support the Dollar
The EUR/USD pair dropped over 0.60%, falling below the 1.2000 level on Wednesday, as the US Federal Reserve decided to keep interest rates unchanged. During this time, Fed Chair Jerome Powell chose not to address political questions and maintained a neutral stance regarding monetary policy. Currently, the exchange rate sits at 1.1955. Euro declines as […]
Thune cautions that Powell’s accusations need to be valid during the current DOJ investigation.
Senate Leaders Respond to Powell Investigation Amid rising concerns in the Senate about the ongoing criminal investigations, Senate Majority Leader John Thune expressed serious apprehensions regarding the allegations against Federal Reserve Chairman Jerome Powell. He stated that these claims should be taken seriously and remain free from political influence. Thune noted, “I haven’t seen the […]
Federal Reserve overlooked questions regarding Powell’s testimony to Congress.
Federal Reserve Chairman Jerome Powell has reportedly “ignored” multiple requests from prosecutors, which led the Justice Department to employ “legal means” to gather information regarding his testimony to Congress regarding changes to the Federal Reserve system, according to U.S. Attorney Jeanine Pirro. Pirro, who is the leading federal prosecutor in Washington, D.C., downplayed alarming rumors […]
Bessent identifies four candidates for Powell’s position at the Fed.
President Donald Trump has expressed intentions to possibly sue Federal Reserve Chairman Jerome Powell over the costly renovations taking place at the central bank. This announcement comes just before the New Year’s holiday, with Trump stating he would decide by January on the Fed’s leadership. Jerome Powell’s term runs until May 2026, and he has […]
GBP/USD jumps after Fed rate cut as traders watch for Powell’s next moves.
The GBP/USD pair saw an uptick on Wednesday after the Federal Reserve opted to cut interest rates, with a vote that favored the decision 9-3. Interestingly, two members chose to maintain the rates, whereas Fed Director Stephen Milan voted for a more substantial cut of 50 basis points. As of now, the pair is trading […]
EUR/USD remains stable as markets anticipate Fed rate reduction and Powell’s insights
EUR/USD showed minimal movement on Tuesday, floating around 1.1640 as traders hesitated to make significant decisions ahead of the Federal Reserve meeting scheduled for Wednesday. The market’s expectations are strongly positioned, with nearly a 90% chance of a 25 basis point rate cut, according to the CME FedWatch tool. The US dollar (USD) is still […]
Employment is on the rise while Powell’s Federal Reserve is facing challenges
Employment Surpasses Expectations While Fed Experiences Setbacks It’s Friday! Time for the Breitbart Business Digest Weekly Wrap. Let’s recap the economic and financial happenings from the past week, which have already become a bit of a blur. This week, some intriguing details emerged. The government aimed to clarify September’s hiring figures and notable resignations. A […]
Japanese Yen remains weak close to 154.00 after Powell’s careful comments
USD/JPY Overview The USD/JPY exchange rate increased slightly to about 154.05 in early Asian trading on Monday. The Japanese yen has weakened against the US dollar following the Bank of Japan’s (BOJ) recent meeting, where traders were hoping for a more assertive approach regarding future interest rate hikes. During its October meeting last week, the […]
Bessent identifies five candidates for Powell’s position at the Fed.
U.S. Treasury Secretary Scott Bessent announced on Air Force One that he has narrowed down the list of candidates to replace Federal Reserve Chairman Jerome Powell to five, according to The Wall Street Journal. Some of these candidates are connected to central banks and the White House, while others have affiliations with major Wall Street […]