Page 6 - Us Federal Reserve

Wall St hits record high after Fed indicates more rate cuts; Intel soars

Intel jumped 29% and was set for its biggest one-day gain since October 1987 after Nvidia said it would invest $5 billion in the struggling US chipmaker. Peer Advanced Micro Devices slipped 3.1%

Benchmark indices hit 10-weeks highs after US Fed's 25 bps rate cut

Sensex and Nifty rose to 10-month highs after the Fed's 25 bps cut, with IT and pharma leading gains amid optimism over India-US trade talks and stronger FPI inflows

Trump seeks Supreme Court order to remove Lisa Cook from US Fed board

The Trump administration on Thursday asked the Supreme Court for an emergency order to remove Lisa Cook from the Federal Reserve's board of governors. The Republican administration turned to the high court after an appeals court refused to go along with ousting Cook, part of President Donald Trump's effort to reshape the Fed's seven-member governing board and strike a blow at its independence. The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed board, which was designed to be largely independent from day-to-day politics. No president has fired a sitting Fed governor in the agency's 112-year history. Cook, who was appointed to the Fed's board by President Joe Biden, a Democrat, has said she won't leave her post and won't be bullied by Trump. One of her lawyers, Abbe Lowell, has said she will continue to carry out her sworn duties as a Senate-confirmed Board Governor.

Powell delivers 25-bps cut but keeps markets guessing on rate path

Federal Reserve Chair Jerome Powell cut rates by 25 bps but left investors uncertain on future easing, citing inflation risks as markets priced in deeper reductions

Asian shares rise as US stocks stay near record highs after Fed rate cut

Asian shares, led by tech stocks, were mostly higher Thursday after Wall Street indexes churned between gains and losses but ultimately remained near their record levels following the Federal Reserve's decision to cut its main interest rate. Japan's Nikkei 225 rose 1.3 per cent to 45,365.98, with tech-related stocks including Disco, Tokyo Electron and SoftBank among the gainers. The Bank of Japan started its two-day policy meeting, with rates expected to be left unchanged. South Korea's Kospi added nearly 1.3 per cent to 3,455.98, with chipmakers SK Hynix and Samsung Electronics among advancers. The Chinese markets were mixed. Hong Kong's Hang Seng slipped 0.2 per cent to 26,856.02, while the Shanghai Composite index added nearly 0.5 per cent to 3,893.95 on optimism over trade negotiations with the US and a potential TikTok agreement. Australia's S&P/ASX 200 dipped 0.5 per cent to 8,778.60 with data released Thursday showing the jobless rate was unchanged at 4.2 per cent in ...

China leaves key interest rate unchanged after Fed rate reduction

Resilient exports and a sharp stock market rally have allowed policymakers to withhold fresh stimulus, market watchers said, even with a broader economic slowdown

Rupee gains to over 2-week high ahead of US Federal Reserve meet outcome

The US rate setting panel is scheduled to announce its policy decision after Indian markets hours. The foreign exchange market has priced in a 25-basis-point rate cut

US Fed wrestles with how many interest rate cuts to make, how fast

With the Federal Reserve widely expected Wednesday to reduce its key interest rate by a quarter-point to about 4.1 per cent, economists and Wall Street investors will be looking for signals about next steps: How deeply might the Fed cut in the next few months? There are typically two different approaches the central bank takes to lowering borrowing costs: Either a measured pace that reflects a modest adjustment to its key rate, or a much more rapid set of cuts as the economy deteriorates in an often-doomed effort to stave off recession. For now, most economists expect it will take the first approach: What many analysts call a recalibration of rates to keep the economy growing and businesses hiring. Under this view, the Fed would reduce rates as many as five times by the middle of next year, bringing its rate closer to a level that neither stimulates or slows the economy. Wall Street traders expect three reductions this year and then two more by next June, according to futures pricin

US court blocks Trump bid to fire Federal Reserve Governor Lisa Cook

A US appeals court has ruled Lisa Cook can remain on the Federal Reserve board while her lawsuit proceeds, after Trump tried to dismiss her over alleged mortgage fraud

Trump expects 'big cut' from Federal Reserve ahead of key policy meeting

The Fed is widely expected to cut interest rates on Sept. 17 as it grapples with a slowing labour market, stubborn inflation and an unprecedented push by Trump for lower borrowing costs

Trump makes final push for court approval to fire Fed's Lisa Cook

Trump last week asked the Washington-based appeals court to temporarily pause a lower court's Sept. 9 injunction blocking him from firing Cook

Foreign portfolio investors pull the ripcord, trade winds to blame

Rising indices push foreign investors into a controlled landing

Fed chair Powell should make big rate cut now, says Donald Trump

"Just out: No Inflation!!! Too Late must lower the RATE, BIG, right now. Powell is a total disaster, who doesn't have a clue!!!," Trump said in a post on Truth Social

US court rules Lisa Cook can stay Fed Guv while fighting Trump's firing bid

A federal court ruled Tuesday that embattled Federal Reserve Governor Lisa Cook can remain in her position while she fights President Donald Trump's efforts to fire her. The ruling, which will almost certainly be appealed, is a blow to the Trump administration's efforts to assert more control over the traditionally independent Fed, which sets short-term interest rates to achieve its congressionally mandated goals of stable prices and maximum employment. Congress has also sought to insulate the Fed from day-to-day politics. Trump said he was firing Cook on August 25 over allegations raised by one of his appointees that she committed mortgage fraud related to two properties she purchased in 2021, before she joined the Fed. Cook is accused of saying two properties were primary residences, which could have resulted in lower down payments and mortgage rates than if either was designated a second home or investment property. Cook's lawyers argued that firing her was unlawful because ...

Asian shares rise as Fed rate cut hopes boost sentiment across markets

Asian shares mostly rose Tuesday as hopes grew, also on Wall Street, that US data reports set for release later in the week would lead the Federal Reserve tocut interest rates at its next meeting. Japan's benchmark Nikkei 225 edged up nearly 0.3% in morning trading to 43,763.96. Australia's S&P/ASX 200 declined 0.5% to 8,806.60. South Korea's Kospi climbed 0.6% to 3,238.07. Hong Kong's Hang Seng surged 1.2% to 25,949.48, while the Shanghai Composite rose 0.1% to 3,831.45. Asian markets opened Tuesday with momentum, riding Wall Street's conviction that Fed cuts are no longer a question of if but how many. Nearly three reductions are now being priced before year-end. That expectation is washing through global markets like a spring tide, said Stephen Innes, managing partner at SPI Asset Management. On Wall Street, the S&P 500 added 0.2% and finished just below its record set last week. The Dow Jones Industrial Average rose 114 points, or 0.3%, and the Nasdaq composite climbed ...

Trump names Hassett, Warsh and Waller as top three finalists for Fed chair

Earlier, Trump indicated that while he had some idea of who he wanted to pick for the position, he was committed to an interview process

Fed is independent, but could markets be right about Trump's push for cuts?

Trump's push for democratic control of the Fed and its independence are not mutually exclusive

US trade deficit widens 32.5% in July as imports surge to record levels

The trade gap ballooned 32.5per cent to $78.3 billion, the Commerce Department's Bureau of Economic Analysis said on Thursday

Gold's record rally faces test as focus shifts to US data, Fed rate cuts

Gold prices, which scaled record highs in the domestic market last week, are likely to face a crucial test in the coming days with investors watching US macroeconomic data and geopolitical tensions for cues on the trajectory of the precious metal, analysts said. Upcoming US employment data, purchasing managers' index (PMI) readings from major economies, and speeches of several Federal Reserve officials will also be watched, they said. "In the week ahead, focus will be on the manufacturing/services PMI data from across regions and the US employment data. Festive demand in India and uncertainty over the Russia-Ukraine peace deal as well as straining India-US relations, will also drive market sentiment," Pranav Mer, Vice President, EBG -- Commodity & Currency Research, JM Financial Services, said. On Friday, the most-traded gold futures for October contract soared to an all-time high of Rs 1,04,090 per 10 grams on the Multi Commodity Exchange (MCX) before settling near record ...

US consumer spending rises solidly in July as core inflation edges higher

Consumer spending, which accounts for more than two-thirds of economic activity, rose 0.5 per cent last month after an upwardly revised 0.4 per cent gain in June