Former Federal Reserve chair Jerome Powell says the U.S. central bank would lose the credibility it needs to steady the economy if officials could be removed over policy disagreements. The warning landed as the Supreme Court weighs President Donald Trump’s effort to fire Governor Lisa Cook. A Direct Defense of Central Bank Independence Powell delivered […]
The post Jerome Powell Warns Fed Credibility Is Under Threat appeared on BitcoinEthereumNews.com.
Jerome Powell warned against removing Fed officials over policy disagreements. In his speech, Powell described the Federal Reserve as undergoing a “stress test.” Powell remains on the Fed Board of Governors until January 2028 after resigning as chair. Former Federal Reserve Chair Jerome Powell used his first public speech since leaving the top job to deliver a warning about political pressure on the US central bank. Speaking while accepting the John F. Kennedy Profile in Courage Award in Boston, Powell said the Federal Reserve is facing a “stress test” and argued that its ability to operate independently is critical to maintaining public trust. The remarks came just weeks after Powell’s term as chair ended on May 15, and Kevin Warsh took over leadership of the central bank. Powell Pushes Back Against Political Interference Powell did not mention President Donald Trump directly, but his com
The post Fed: Later cuts as inflation persists – Rabobank appeared on BitcoinEthereumNews.com.
Rabobank’s Senior US Strategist Philip Marey updates his United States (US) and Federal Reserve (Fed) outlook, highlighting a shift by the FOMC away from an easing bias ahead of Warsh’s first meeting. Marey notes that developments in the Middle East are likely to keep energy prices elevated. As a result, Rabobank now expects the first Fed rate cut in October 2026 and a second in January 2027, later than previously forecast. FOMC shifts and delayed rate cuts “In recent weeks, the FOMC seems to have moved further toward dropping its easing bias, with several Committee participants staking out their position before Warsh’s first meeting.” “Meanwhile, the developments in the Middle East suggest that energy prices will remain elevated for longer.” “With our outlook for inflation higher and more persistent and the FOMC taking defensive positions against the new Chair, we now change our Fed view.” “
The post Germany HCOB Manufacturing PMI above forecasts (49.9) in May: Actual (50.1) appeared on BitcoinEthereumNews.com.
GBP/USD struggles to capitalize on its goodish recovery from a one-and-a-half-week low, touched last Thursday, and trades cautiously above mid-1.3400s at the start of a new week. The US Dollar regains some positive traction amid the uncertainty over a potential US-Iran peace deal and hawkish US Federal Reserve bets. This, in turn, is seen as a key factor acting as a headwind for the pair ahead of the US ISM PMI data. Source: https://www.fxstreet.com/news/germany-hcob-manufacturing-pmi-above-forecasts-499-in-may-actual-501-202606010755
The post Austria Unemployment Rate declined to 7.1% in May from previous 7.5% appeared on BitcoinEthereumNews.com.
GBP/USD struggles to capitalize on its goodish recovery from a one-and-a-half-week low, touched last Thursday, and trades cautiously above mid-1.3400s at the start of a new week. The US Dollar regains some positive traction amid the uncertainty over a potential US-Iran peace deal and hawkish US Federal Reserve bets. This, in turn, is seen as a key factor acting as a headwind for the pair ahead of the US ISM PMI data. Source: https://www.fxstreet.com/news/austria-unemployment-rate-declined-to-71-in-may-from-previous-75-202606010750
The post France HCOB Manufacturing PMI registered at 49.7 above expectations (48.9) in May appeared on BitcoinEthereumNews.com.
GBP/USD struggles to capitalize on its goodish recovery from a one-and-a-half-week low, touched last Thursday, and trades cautiously above mid-1.3400s at the start of a new week. The US Dollar regains some positive traction amid the uncertainty over a potential US-Iran peace deal and hawkish US Federal Reserve bets. This, in turn, is seen as a key factor acting as a headwind for the pair ahead of the US ISM PMI data. Source: https://www.fxstreet.com/news/france-hcob-manufacturing-pmi-registered-at-497-above-expectations-489-in-may-202606010750
The post Italy HCOB Manufacturing PMI came in at 52.9, above expectations (52) in May appeared on BitcoinEthereumNews.com.
GBP/USD struggles to capitalize on its goodish recovery from a one-and-a-half-week low, touched last Thursday, and trades cautiously above mid-1.3400s at the start of a new week. The US Dollar regains some positive traction amid the uncertainty over a potential US-Iran peace deal and hawkish US Federal Reserve bets. This, in turn, is seen as a key factor acting as a headwind for the pair ahead of the US ISM PMI data. Source: https://www.fxstreet.com/news/italy-hcob-manufacturing-pmi-came-in-at-529-above-expectations-52-in-may-202606010745
The post Switzerland SVME – Purchasing Managers’ Index came in at 57.3, above expectations (54) in May appeared on BitcoinEthereumNews.com.
GBP/USD struggles to capitalize on its goodish recovery from a one-and-a-half-week low, touched last Thursday, and trades cautiously above mid-1.3400s at the start of a new week. The US Dollar regains some positive traction amid the uncertainty over a potential US-Iran peace deal and hawkish US Federal Reserve bets. This, in turn, is seen as a key factor acting as a headwind for the pair ahead of the US ISM PMI data. Source: https://www.fxstreet.com/news/switzerland-svme-purchasing-managers-index-came-in-at-573-above-expectations-54-in-may-202606010730
The post Switzerland Gross Domestic Product (YoY) fell from previous 0.7% to 0.5% in 1Q appeared on BitcoinEthereumNews.com.
GBP/USD struggles to capitalize on its goodish recovery from a one-and-a-half-week low, touched last Thursday, and trades cautiously above mid-1.3400s at the start of a new week. The US Dollar regains some positive traction amid the uncertainty over a potential US-Iran peace deal and hawkish US Federal Reserve bets. This, in turn, is seen as a key factor acting as a headwind for the pair ahead of the US ISM PMI data. Source: https://www.fxstreet.com/news/switzerland-gross-domestic-product-yoy-fell-from-previous-07-to-05-in-1q-202606010700
