News
VIEW End of Powell probe relieves uncertainty over Fed succession plan
3+ hour, 12+ min ago (281+ words) The Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, US Attorney Jeanine Pirro said on Friday, removing an obstacle to the confirmation of Kevin Warsh, President Donald Trump's pick to lead the "central bank. The criminal…...
Record surge in gasoline receipts boosts US retail sales in March
4+ day, 19+ hour ago (703+ words) US retail sales increased more than expected in March as the war with Iran boosted gasoline prices and led to a record surge in receipts at service stations, while tax refunds underpinned spending elsewhere. Though "higher prices partly accounted for…...
Warsh says he made no rate-cut promises to Trump, plans 'robust' Fed reforms
4+ day, 7+ hour ago (662+ words) Federal Reserve chief nominee Kevin Warsh said on Tuesday he had made no promises to President Donald Trump about cutting interest rates, as he tried to assure US senators mulling his confirmation to lead the US central bank that he…...
Hong Kong banks ramp up cash rebate in mortgage war as property market rebounds
4+ day, 19+ hour ago (346+ words) In a swift tug-of-war for mortgage customers, Miss Wong's HK$10 million flat purchase has sparked a rare cash-rebate showdown among Hong Kong banks. Last week, offers languished below 1 percent. Then, this Monday, a small bank offered 1 percent. By Tuesday morning,…...
Mythos a serious threat but more will follow, Barclays CEO says
6+ day, 21+ hour ago (224+ words) Anthropic's powerful new frontier AI model, Mythos, poses a serious threat to the global banking system, and it is likely to be followed by even more advanced versions in rapid succession, Barclays Chief Executive C. S. Venkatakrishnan warned on Friday. The model's…...
Fed's Waller says rate cuts still possible this year if war ends quickly
1+ week, 1+ hour ago (540+ words) Federal Reserve Governor Christopher Waller said on Friday that while the U. S. -Israeli war with Iran is likely to push up near-term inflation, a swift end to the conflict would keep the door open for interest rate cuts later this year....
Fed nominee Warsh reports well over US$100 million in assets ahead of April 21 hearing
1+ week, 4+ day ago (784+ words) Former Federal Reserve Governor Kevin Warsh, nominated by President Donald Trump to head the U. S. central bank, reported assets worth well over US$100 million (HK$780 million) in new financial disclosures, putting him on track to be the wealthiest Fed leader if…...
BOJ policy to boost yen could be an option to curb inflation, Japanese minister says
2+ week, 3+ hour ago (252+ words) Bank of Japan monetary policy could be an option to tame rising prices by boosting the yen, Japan's trade minister said on Sunday, as the central bank weighs raising interest rates this month to counter inflation spurred by the Iran…...
US consumer prices surge in March in line with expectations
2+ week, 1+ day ago (564+ words) US consumer prices increased by the most in nearly four years in March as the war with Iran boosted oil prices and the pass-through from tariffs persisted, further diminishing chances for an interest rate cut this year. The Consumer Price…...
White House confident Warsh will lead Fed in May
2+ week, 2+ day ago (217+ words) White House economic adviser Kevin Hassett said on Thursday that he was confident Kevin Warsh would start as Federal Reserve chairman in May and that he did not expect current Fed chairman Jerome Powell to remain on the board. "I'm…...