USD/HKD

Gregory Daco, chief economist at EY-Parthenon, says he thinks the Federal Reserve won't move on interests rates for the rest of this year. Daco talks about what he wants to see from the new Chairman Kevin Warsh. Daco speaks on "Bloomberg Surveillance."

We’re back to reading tea leaves! Hooray! Next week the Federal Reserve will have its second meeting since Kevin Warsh officially took the helm. And, at this point, the outcome is far from certain, which is unusual given that ever since Ben Bernanke instituted “forward guidance” the market usually knew what to expect. Warsh does not think “forward guidance” ...

President Trump announced a 10% "global tariff" just hours after the Supreme Court struck down his blanket tariffs in February. But that stopgap maneuver under Section 122 of the Trade Act of 1974 came with the authority to levy duties for 150 days. That clock is set to run out. Absent a move by Congress to extend the tariffs — which is highly unlikely — ...

Thank you to our Great Speaker, Mike Johnson, the House Budget Chairman, Jodey Arrington, and the members of the House Budget Committee, including Lloyd Smucker, Ron Estes, Andrew Clyde, Josh Brecheen, Erin Houchin, Mike Carey, Blake Moore, Jay Obernolte, Tom McClintock, and many others, for launching an effort to get AS MUCH of THE SAVE AMERICA ACT as possible in a Budget Bill, along with aid to our incredible Farmers, and funding for our Military. We need Voter Photo ID (Identification!), Proof of Citizenship and, hopefully, No Corrupt Mail In Ballots (except for illness, disability, Military, or travel). I am asking all House Republicans to VOTE YES this week on the Budget Resolution, which is an important first step towards getting a Budget Bill. House Republicans must UNIFY, and fight for THE SAVE AMERICA ACT! President DONALD J. TRUMP

The Conference Board Leading Economic Index® (LEI) for the US declined by 0.2% in June 2026 to 99.1 (2016=100), following a 0.1% increase in May. However, the LEI is down by only 0.3% over the first half of 2026, a much smaller rate of decline than its 1.1% contraction over the second half of 2025. "In June, the Leading Economic Index (LEI) for the US ...

China kept benchmark lending rates unchanged for a 14th consecutive month on Monday (Jul 20), in line with market expectations. The unchanged loan prime rates (LPRs) suggest that policymakers remain patient, keeping interest rates on hold despite softer-than-expected second-quarter economic data that underscored the uneven growth in the world’s ...

The furnaces at Scunthorpe had been burning through £700,000 per day in losses when Jingye Group, the Chinese company that paid £70 million for British Steel in 2020, concluded in 2025 that the steelworks were no longer financially viable. What followed was not a controlled wind-down. It was a sequence of escalating government interventions that ended on ...

China’s Ministry of Foreign Affairs has said it will closely monitor the United Kingdom’s nationalisation of British Steel, previously owned by a Chinese steelmaker. The UK government nationalised British Steel on Thursday, fully taking over the loss-making company, then under the ownership of Jingye, on national security grounds. “The issue has drawn ...

F/m Investments’ Washington, D.C., office is just a short drive from the Federal Reserve’s headquarters. But under the central bank’s new leadership, CEO Alexander Morris has found the distance feeling far greater. Fed Chairman Kevin Warsh embarked on an overhaul of the central bank’s forward-looking communication since taking the post in May. That move ...

China’s imports of unwrought aluminium and aluminium products declined 17.4% in June from a year earlier, customs data showed on Saturday, as an unfavourable import arbitrage curbed inflows. Volume dropped to 250,000 metric tons, according to data from the General Administration of Customs. Imports during the first half of 2026 totalled 1.88 million tons, ...