Three more UK interest rate cuts this year, predicts IMF
The IMF said UK inflation will go up as bills rise, while economies will be hit by Trump tariffs.
Economic news
Read More
Even Trump must know that firing the chair of the Fed would be self-defeating
Jerome Powell is a soft target for the president amid economic instability. But getting rid of him would only invite more chaos
US stock markets, Treasury bonds and the dollar itself are sliding amid the tariff turmoil and Donald Trump needs a soft target. It was probably only a matter of time before he intensified his attacks on Jerome Powell, chair of the US Federal Reserve. It is an easy narrative to blame the dull central banker with orthodox worries about anchoring inflation expectations. Nor is Powell able to engage in tit-for-tat soundbites. Unlike Trump, he must measure the impact on markets of his every word.
The open question is how far Trump intends to push things. Monday’s reaction in financial markets was strong because it seemed for the first time that the president could be serious about removal. “Powell’s termination cannot come fast enough!” declared Trump, which was several notches beyond his usual whine about urging the Fed to hurry up with cuts in interest rates.
If Trump wants rate cuts, he would likely need to replace the Fed’s full board along with Powell
Changing out the Federal Reserve chair doesn’t guarantee rate cuts for President Donald Trump, according to Wall Street economists.
IMF slashes global growth forecast to 2.8% this year due to Trump trade war – as it happened
Growth forecasts for most advanced countries have been cut, as IMF warns that trade tensions will hurt economic activity
- IMF warns of ‘major negative shock’ from Trump’s tariffs
- Reeves to make case for free global trade at Washington IMF talks
With a week to go, April is turning into the worst month for the US stock market since the Great Depression.
The Wall Street Journal is reporting that the Dow Jones Industrial Average is headed for its worst April performance since 1932, according to Dow Jones Market Data.
Long term impacts of Trump’s tariffs will be negative, says IMF – video
The International Monetary Fund, a global financial body, said the long term impact of Trump’s tariffs would be negative for the global economy. Pierre-Olivier Gourinchas, the IMF’s chief economist also said the organisation revised down growth for the UK partly due to the impact of the tariffs but also domestic factors in the UK economy
Hedge fund Elliott turns up heat on BP with demand for deep spending cuts
US activist discloses 5% stake and warns pivot back to oil and gas does not go far enough