Yesterday
Trump pressures Fed to cut rates by ‘a full point’
The US president has continued his campaign of attacks against the Federal Reserve, insisting that the latest jobs data justifies a rate cut.
Traders reel in bets on US interest rate cuts and yields surge
The sell-off lifted yields across maturities by as much as 10 basis points, led by shorter-dated tenors more sensitive to Fed rate changes.
This Month
The enduring legacy of the late Stanley Fischer, a giant of macroeconomics
Stan was at the IMF during the Asian Financial Crisis and played the leading role in formulating the IMF’s response to the crisis.
Trump renews call for Powell to cut rates as economy slows
Activity at US service providers unexpectedly contracted last month for the first time in almost a year and private companies throttled back hiring.
Why low interest rates aren’t coming back
Cheap money isn’t coming back. Bigger deficits, the energy transition and investment in AI mean the cost of borrowing will be higher in the years ahead.
Stanley Fischer, who spread the macroeconomic gospel, dies at 81
Dispatched on several occasions to extinguish emergencies around the world, the esteemed economist drew academic lessons from his experience with countries in crisis.
May
Trump tells Powell he is making a mistake by not cutting rates
The president and the US Federal Reserve chairman met at the White House to discuss the nation’s growth, employment and inflation.
Fed well positioned to wait for clarity on outlook, minutes say
Policymakers judged the risks of both higher unemployment and inflation had risen since their March meeting, primarily due to the potential impact of tariffs.
Former Goldman economist splits from market, predicts big rate cuts
Now at Yarra Capital, Tim Toohey says the RBA will slash interest rates more aggressively than expected. Other economists say there’s little chance of that.
Trump’s tax bill a ‘ticking bomb’ for Republicans and investors
The president’s “big beautiful” bill narrowly passed the House, but its sweeping tax cuts and increased debt risk alienating voters and investors.
Dimon warns of US stagflation risk, says Fed right to hold rates
“I don’t agree that we’re in a sweet spot,” the JPMorgan Chase chief executive said, adding that the US central bank was right to wait and see.
The ‘Taco’ trade, and whether to take a bite or resist
The market is applying the rule that “Trump Always Chickens Out”, particularly over his beloved tariffs, and that risky assets rise in response.
Fed to shrink staff by about 10pc over next several years
The central bank has been criticised by Elon Musk — who is running Trump’s Department of Government Efficiency — for what he claimed is overstaffing.
All the ingredients are in place for an enduring housing recovery
As central banks ease monetary policy, default interest rates should fall. In Australia, markets are pricing in at least three RBA rate cuts this year.
Looming US fiscal crisis a cautionary tale for Australia
The lesson is clear. Short-term fiscal discipline, which might seem ignorable in the moment, is vital.
Trump’s challenge: building a bridge to the future
The US president has shifted into uber-spruiker mode in a quest to build a bridge between his short-term pain trade and a more prosperous vision of the future.
Why the RBA is set to break away from the Fed and cut rates
Australia can act more swiftly than the US, which typically sets the tone for global monetary policy.
Kooyong race tightens; How Zoe Daniel lost; Fed’s game of chicken
Read everything that’s happened in the news so far today.
Fed warns of rising economic risks as it leaves rates steady
Chairman Jerome Powell said the large increases in tariffs would be “likely to generate a rise in inflation, a slowdown in economic growth” and a rise in unemployment.
Markets are playing a giant game of chicken. The Fed just joined in
Like investors, US Federal Reserve chairman Jerome Powell is refusing to alter course until he’s certain the trade war damage is real. It’s a risky strategy.