Fed’s Powell has had no contact with Trump after president said he’ll demand rates drop

Key Points

Powell’s comments came after Federal Reserve members announced they were keeping the benchmark interest rate steady.
“I’ll demand that interest rates drop immediately,” Trump said during a virtual appearance before the World Economic Forum in Davos, Switzerland last week.
“The public should be confident that we will continue to do our work as we always have, focusing on using our tools to achieve our goals and really keeping our heads down and doing our work,” Powell said Wednesday.

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Finance

China-U.S. agree on framework to implement Geneva trade consensus after second day of London talks

June 11, 2025

Key Points The U.S. and China have reached consensus on trade, representatives from both sides said after high-level talks in London, according to an NBC transcript. The negotiators will now seek approval on the framework from the U.S. and Chinese presidents, before implementing it. The talks follow a breakthrough trade agreement reached in mid-May that […]

Finance

DoubleLine’s Gundlach says to buy international stocks on the dollar’s ‘secular decline’

June 10, 2025

Jeffrey Gundlach speaking at the 2019 Sohn Conference in New York on May 6, 2019. Adam Jeffery | CNBC DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that international stocks will continue to outshine U.S. equities on the back of what he believes to be the dollar’s secular downtrend. “I think the trade is to not own U.S. […]

Finance

Why BlackRock’s smallest deal of 2024 may end up being its most consequential

June 10, 2025

BlackRock CEO Larry Fink has sent a clear message to investors: The world’s largest asset manager’s smallest acquisition last year could end up its most consequential. During an industry conference in March, the long-time executive said BlackRock’s $3.2 billion purchase of alternatives asset data provider Preqin — its smallest of the four deals announced in […]