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Trading Ideas

Fed chief Powell defends policy of gradual rate hikes

Federal Reserve Chairman Jerome Powell on Friday defended the U.S. central bank’s push to raise interest rates as healthy for the economy and signaled more hikes were coming despite President Donald Trump’s criticism of higher borrowing costs. The Fed, which began to tighten monetary policy in 2015, has raised rates twice this year and is expected to do so again next month and perhaps once more before the end of the year. Powell’s comments were not a direct response to Trump’s criticism that he is “not thrilled” with the Fed for raising rates as the Trump administration tries …read more […]

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Business News

Exclusive: U.S. Commerce’s Ross picks ZTE monitor after rejecting ‘Never Trump’ lawyer

U.S. Commerce Secretary Wilbur Ross has appointed a former federal prosecutor to monitor China’s ZTE Corp after people familiar with the matter said he rescinded an offer to a former U.S. official for signing a “Never Trump” letter before the 2016 presidential election,

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