Federal Reserve Chair Jerome Powell has firmly stated that he will not resign if former President Donald Trump requests it, reiterating his commitment to the Fed’s independence. Despite Trump’s past attempts to influence the Fed’s decisions, Powell maintains that the central bank’s policy decisions remain unaffected by political pressure.
Bitcoin reached a new all-time high, exceeding $76,000, while Ethereum climbed above $2,900. This surge was fueled by the Federal Reserve’s latest interest rate cut, boosting market momentum. Analysts see this as a potential sign of an upcoming “altcoin season” and predict further gains in both Bitcoin and Ethereum.
The Federal Reserve lowered interest rates for the second time in as many months, bringing the federal funds rate to a range of 4.5% to 4.75%. While the move was widely anticipated, economists are now analyzing the implications for the future of monetary policy. Some analysts see further rate cuts on the horizon, while others remain cautious about the economic outlook.
Federal Reserve Chair Jerome Powell has firmly dismissed speculation regarding his potential resignation or removal upon Donald Trump’s return to the White House. Powell clarified that the president cannot legally fire him, stressing the need for the Fed’s independence from political influence. While acknowledging a recent rate cut and the ongoing fight against inflation, Powell emphasized the Fed’s commitment to a data-driven approach and its continued focus on maintaining a healthy economy.
Bank of America shares are riding high following Donald Trump’s re-election victory, fueled by optimism for policies that could benefit the banking sector. However, the Federal Reserve’s interest rate cut has somewhat tempered the stock’s gains. This article explores the factors driving Bank of America’s performance, including potential tax cuts, deregulation, and infrastructure spending.
Donald Trump’s return to the White House is throwing a wrench in the Federal Reserve’s plans to lower interest rates. Rising Treasury yields and a strengthening dollar, driven by Trump’s fiscal plans and inflationary policies, are counteracting the Fed’s efforts to ease financial conditions. This dynamic presents a significant challenge for the Fed as it navigates the delicate balance of managing inflation and supporting economic growth.
Gold prices plummeted over 3% to $2650 per troy ounce as the US dollar surged following Donald Trump’s presidential election victory. The strong dollar, coupled with expectations of a more conservative approach from the Federal Reserve on interest rate cuts, put pressure on the precious metal. Today’s focus is on the Fed’s interest rate decision, which is expected to include a 25-basis-point cut. Technical analysis suggests further declines for gold, with the immediate downside target at $2617.40.
U.S. stock futures are pointing upwards on Thursday, signaling a continuation of the post-election rally fueled by former President Donald Trump’s return to the White House. The market is also looking towards the Federal Reserve’s interest rate decision and economic data releases.
The US Federal Reserve is widely expected to lower interest rates by a quarter point on Thursday, November 7, continuing its effort to ease borrowing costs in response to declining inflation. Despite the recent political shift, analysts anticipate a calm approach from the Fed, with a focus on economic data rather than election results. While the economy remains resilient, the December rate decision remains uncertain, with key factors including the labor market and inflation data. Market sentiment towards the new political landscape is mixed, with concerns about fiscal discipline and rising debt levels.
The CNN Money Fear & Greed Index indicated a slight improvement in market sentiment, though it remained in the ‘Fear’ zone on Tuesday. U.S. stocks rose on Monday, fueled by anticipation for the U.S. presidential election results. The Federal Reserve’s rate decision on Thursday and key economic data releases are also influencing market sentiment.
