Elon Musk backs call to ‘#EndTheFed’ after Jerome Powell says he won’t resign early
On Thursday, Powell was asked if he would resign if President-elect Donald Trump demanded it, and Powell simply replied “no.”
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Commentary: One of the biggest election factors is also one of the most misunderstood — inflation
About half of Donald Trump's voters cited high prices as the biggest issue affecting their vote. But they may have been blaming the wrong culprit.
Inflation data poses test for stocks rally after Trump win
NEW YORK (Reuters) -Investors will focus in the coming week on whether inflation trends can help sustain the record-breaking stock rally that has received a boost from Donald Trump's victory in the U.S. presidential race. The benchmark S&P 500 surged to an all-time high and hit the 6,000 level for the first time on Friday, as expectations of tax cuts and looser regulations under Trump helped lift the appetite for equities. A reassuring economic outlook from the Federal Reserve, which delivered a widely expected 25 basis point rate cut on Thursday, also helped boost sentiment.
Egyptian Inflation Slightly Quickens for a Third Straight Month
(Bloomberg) -- Egyptian inflation slightly quickened for a third month, driven by a sharp rise in fuel prices.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, ImmigrationAnnual consumer prices in urban areas rose 26.5% in October versus 26.4% the month before, state statistics agency CAPMAS
Fed’s Kashkari Says Stronger Economy Could Mean Fewer Rate Cuts
(Bloomberg) -- Federal Reserve Bank of Minneapolis President Neel Kashkari said a strong economy and higher productivity growth may drive the US central bank to cut interest rates less than previously expected.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, ImmigrationKashkari, in his firs
Fed's Kashkari: Both political parties want inflation lower
WASHINGTON (Reuters) -Minneapolis Federal Reserve President Neel Kashkari said he was not concerned about a potential clash between the Fed and President-elect Donald Trump because both major U.S. political parties want inflation lower. "I am not concerned about the dynamics in Washington," following Tuesday's election of Trump, Kashkari said in an interview on Fox News. "Both sides of the aisle want us to keep the economy strong and get inflation down."
Frustrated Americans await the economic changes they voted for with Trump
Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president. President-elect Donald Trump has vowed to topple many of the Biden administration's economic policies. Trump campaigned on promises to impose huge tariffs on foreign goods, slash taxes on individuals and businesses and deport millions of undocumented immigrants working in the United States.