-
Gold pares gains after Trump shoots down talk of firing Powell
Gold prices jumped on Wednesday following news reports that U.S. President Donald Trump planned to fire Federal Reserve Chair Jerome Powell, but trimmed gains after Trump denied the claim. Trump said he was not planning to fire Powell, but declined to rule anything out, citing an investigation into cost overruns on a $2.5-billion Fed renovation project. [USD/] [US/] Spot gold rose 0.9% to $3,352.49 per ounce, as of 1233 p.m. EDT (1633 GMT) after rising as much as 1.5% earlier. U.S. gold futures were up 0.7% at $3,360.80. "Headlines suggesting Trump was considering firing Powell drove gold prices higher ... He later ... (full story)
- Comments / Top
- Subscribe
-
- Older Stories
From cato.org|Jul 16, 2025Last week, President Trump announced the United States was imposing a 50 percent “national security” tariff on copper imports. Details are sparse, but Bloomberg reported that it ...
From cnbc.com|Jul 16, 2025The leading arm of the United Nations’ organization focused on trade and development, UNCTAD, said President Trump’s tariff policies are already creating new costs and disruptions ...
From @financialjuice|Jul 16, 2025|2 commentsFed's Bostic: I try not to focus on news reports about the Fed, but on things that actually matter - Fox Business. FED'S BOSTIC: SAYS THE U.S. MAY BE AT AN INFLECTION POINT ON INFLATION, NOTING THE MOST RECENT CPI DATA SUGGESTS INFLATION PRESSURES ARE BUILDING. FED'S BOSTIC: WOULD WAIT ON CUTTING INTEREST RATES FOR NOW || NOTES BUSINESSES SAY THIS IS NOT A TEXTBOOK TARIFF SITUATION; MANY ARE USING VARIED STRATEGIES TO ADJUST PRICES Fed's Bostic: Everything is on the table, we want the data to guide us. Fed's Bostic: We may be into 2026 before the full impact of tariffs on inflation is clear.
-
- Newer Stories
From @financialjuice|Jul 16, 2025|6 commentsTrump: tariffs have not begun compared to what they will be Trump: Tariffs on August 1 will be very substantial Trump promotes tariffs on cars, steel, lumber Trump: possible agreement w/ European Union TRUMP SAYS VERY CLOSE TO INDIA TARIFF DEAL -REAL AMERICA'S VOICE INTERVIEW
From @DeItaone|Jul 16, 2025|20 commentsTRUMP SAYS WOULD LOVE IF POWELL RESIGNS -REAL AMERICA'S VOICE INTERVIEW TRUMP SAYS THEY SAY IT WOULD DISRUPT MARKET IF I REMOVED POWELL
From newyorkfed.org|Jul 16, 2025|1 commentGood evening. I’m pleased to see my fellow economists and colleagues enjoying a long summer evening in the city in the best way possible—indoors and prepared for a robust discussion on the economic outlook. I’ve been looking forward to this conversation for some time. But before we turn to the discussion and Q&A, I’d like to take a few minutes at the start of the program to share my assessment of recent economic data and how it’s informing my outlook for the economy. Particularly, I’ll explain what the data are telling us in light of economic uncertainty, and how I expect the effects of tariffs to take shape. Now is when I must give the standard Fed disclaimer that the views I express today are mine alone and do not necessarily reflect those of the Federal Open Market Committee (FOMC) or others in the Federal Reserve System. FED’S WILLIAMS: CURRENT ‘MODESTLY RESTRICTIVE’ MONETARY POLICY IS APPROPRIATE CURRENT STATE OF INTEREST RATE POLICY ALLOWS FED TIME TO ANALYZE DATA TARIFF IMPACT MODEST SO FAR BUT WILL INCREASE OVER TIME TARIFFS SHOULD BOOST INFLATION ONE PERCENTAGE POINT REST OF 2025 INTO…
- Story Stats
- Jul 16, 2025 4:44pm Posted byFundamental Analysis248
