The Federal Reserve now needs to be on Trump watch if it wants to engineer the proper dose of monetary policy, according to Bank of America chief Brian Moynihan. "They've got a new administration with a new set of fiscal policies,
President Trump has said he will "demand" lower interest rates, raising questions about his ability to influence the Federal Reserve.
That’s the prediction of Bank of America economists who think Canada’s central bank will cut 25 basis points on Jan. 29 and then hold its key rate at 3 per cent. “We expect the forward guidance to signal a pause as the BoC waits to see how both domestic activity and U.S. trade policy play out,” said the economists led by Carlos Capistran.
The president bashed Jerome Powell on inflation less than two hours after the Fed chair announced interest rates would stay put. As Bank of America CEO Brian Moynihan may attest, Trump’s timing is not coincidental.
It takes time for the Fed’s decisions to filter through the economy — and then even more time for consumers to see the difference.
You’d expect the Mafia to be debanked, but when even members of the PayPal Mafia are debanked on a whim, it’s time to sound the alarm. In 2019, Roelof Botha—Managing Partner at Sequoia Capital and an
Nonetheless, already there is a clash with President Trump, who believes interest rates are “far too high." On his Truth Social platform, Trump went on the attack: Because Jay Powell and the Fed failed to stop the problem they created with Inflation,
Many of the region’s biggest equity markets — including those in Hong Kong, mainland China and South Korea — are closed for the Lunar New Year holiday.
IBM projected constant currency revenue to grow 5% in the full year, above estimates for 4.81% growth. Meanwhile, the company forecasted free cash flow of $13.5 billion for the full year, above the $12.92 billion Wall Street had expected. IBM also said its generative AI book business now stands at more than $5 billion.
Policymakers left their benchmark rate unchanged amid signs that the economy is humming along, defying the president’s tradition-bucking pressure on the central bank.
Asian stocks were poised to track their US peers lower on Thursday after the Federal Reserve held rates unchanged as expected, with Chair Jerome Powell saying officials were not in a hurry to lower rates.