Today
NAB boss’s admission; Why Ray Dalio’s right; Aussie city set to shine
Read everything that’s happened in the news so far today.
Ray Dalio’s right. Wall Street’s big message doesn’t make sense
Can US financial markets continue to ignore what’s happening in Washington with Federal Reserve chairman Jerome Powell and trade policy – and on Main Street?
Yesterday
Bessent says entire Fed needs to be examined as an institution
The US Treasury secretary said the country’s central bank should be reviewed, citing what he called “fearmongering over tariffs”.
Why under-fire Trump is now trolling Obama
Trump is fond of the art of distraction, including on the Epstein files. But fake videos are not a solid strategy for what is still 3½ years of a presidency to go.
Pimco’s man from inside the Fed says Jerome Powell not for turning
As the central bank’s former vice chairman, Richard Clarida has first-hand insights into the politics and communication challenges it faces in an age of Donald Trump.
This Month
Waller says he’s willing to lead Federal Reserve if Trump asks
Federal Reserve governor Chris Waller, keen to cut rates this month, said he would accept if the president asked him to be chairman of the central bank.
Why ‘VIP dining rooms’ could sink Trump’s foe Powell
An over-budget renovation may finally provide the excuse the president needs to oust the Federal Reserve chairman.
Plenty of reasons why rates will remain higher in the long run
Politicians around the world have a habit of running big budget deficits to spend money on voters today by borrowing money from voters in the future.
‘Investors wake up!’: Bond king’s dire warning on Trump v Powell
Donald Trump has wrecked the Federal Reserve’s independence and shareholders are becoming aware. Turmoil in the debt market could create a shock for stocks.
A politically captive Fed would be a weak Fed
Undermining trust in the Federal Reserve for short-term political gain is a recipe for higher costs and lower living standards for all Americans over time.
Trump says he won’t fire Powell, ‘unless he has to leave for fraud’
The president said almost all Republican House members he polled over whether he should axe the Fed chair said he should.
Tariffs hit ASX; Labor should ignore Trump; Fundies snub ‘sell’ signal
Read everything that’s happened in the news so far today.
Dimon backs Powell over Trump in Fed independence fight
The JPMorgan chief warned the Federal Reserve’s independence was critical as Scott Bessent said a “formal process” to replace the central bank chair was under way.
US bankers shrug off Trump’s tariff blitz despite inflation alarm
Data reveals the first signs of the president’s levies pushing up prices, but JPMorgan and Citi executives say CEOs are getting comfortable in the uncertainty.
Three reasons the Fed will stand pat on interest rates
Policy is rightly locked on hold over the near-term in part because the uncertainty surrounding the Trump administration’s tariffs remains unusually high.
Why the Fed’s independence is worth fighting for
We should be both alert to and alarmed by political attacks on central banks and their implementation of monetary policy.
Trump says Powell should ‘resign immediately’ if he misled Congress
The US president has repeatedly assailed the Fed chairman over decisions to hold rates steady this year, threatening to choose a successor who will cut rates.
US jobs report takes pressure off Fed’s Powell
US employers added 147,000 jobs last month, and the jobless rate edged down to 4.1 per cent, leading traders to dial back rate cut bets.
Traders temper rate cut bets ahead of RBA meeting
Robust US jobs data prompted bond traders to extinguish bets of a Fed rate cut this month, while the chance of a Reserve Bank cut in August also lowered.
Trump has dropped a big, beautiful bomb on America’s economy
The bill is the latest in a series of Luddite measures that let China run away with the electro-tech revolution, marking a retreat from a modern economy.