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US Federal Reserve

US Federal Reserve
Founded in 1913, the Federal Reserve is the central banking system for the United States.
Kevin Warsh testifies during a Senate Banking Committee hearing on his nomination on Capitol Hill in April. Photo: AFP
United States

Warsh confirmed as Fed chair, as US central bank faces Trump assault

He is taking over as the world’s largest economy reels from repeated shocks, including inflation fuelled in part by the Iran war.

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United States

US Senate confirms Trump pick Kevin Warsh to Federal Reserve Board

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United States

US consumer inflation jumps as Iran war sends energy prices higher

Banking & finance

Trump’s pick for Fed chair says he’ll stay independent. Does he mean it?

Kevin Warsh said at a confirmation hearing he would not become the US president’s ‘human sock puppet’, but concerns over interference persist.

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Illustration: Henry Wong
Banking & finance

Macroscope | Australia’s interest rate rise signals growing hawkish stance in Asia

Reserve Bank of Australia is less an outlier than a harbinger of global monetary trends in the wake of war-induced supply shocks.

Yuan

China sets yuan at strongest level in 3 years as US dollar jitters simmer

Beijing is pushing for a stronger yuan to help globalise the currency, but the upswing could create issues for the country’s export giants.

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Central banks

Gold loses its shimmer in Asia over rising oil prices, hawkish Fed stance

Demand for the metal is likely to remain weak, with central banks not expected to cut interest rates for some time due to high energy prices.

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Gold prices fell by 12 per cent from US$5,247.90 per troy ounce on February 27 to US$4,620 on Friday morning. Photo: Shutterstock
United States

US economy grows 2% in January–March; Iran war clouds outlook

The economy also recovered from last autumn’s 43-day federal shutdown.

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Interest rates

HKMA warns of interest-rate uncertainty as Fed’s trajectory remains unclear

HSBC, Standard Chartered and Bank of China (Hong Kong) keep their prime and savings rates unchanged.

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United States

Powell says he’ll stay at Fed as governor, defying Trump

Outgoing chair triggers fresh clash with the White House by exercising his right to remain on the Fed board.

US Federal Reserve Chair Jerome Powell following his final press conference. Photo: Reuters
United States

US drops criminal probe of Fed chair Powell, likely clearing way for Warsh

Judge James Boasberg, said prosecutors had produced ‘essentially zero evidence’ to suspect Powell of a crime.

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US Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Market Committee meeting at the Federal Reserve Board Building in Washington, DC, on March 18. Photo: AFP
Banking & finance

America First Fed? Trump pick Warsh signals ‘monetary sovereignty’: analysts

Potential successor to Jerome Powell may pursue policies that pressure US dollar-driven assets and curb global liquidity, analysts say.

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United States

Trump’s pick for Fed chief, calls for ‘regime change’ at US central bank

The remarks were made at a contentious confirmation hearing, which took place amid a criminal probe of current chair Jerome Powell.

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Hong Kong property

Hong Kong homebuyers extend sell-out streak amid renewed confidence in market

Sentiment is likely to stay firm, agents say, citing steady demand across new launches and a rebound that lifted prices to a 22-month high.

Prospective buyers queue at the sales office for Pavilia Farm III flats. Photo: Jelly Tse
United States

Trump threatens to fire Fed chair Powell if he doesn’t step down ‘in time’

Powell’s stint as the leader of the central bank expires in May, but his term on Board of Governors does not end until 2028.

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A combination of pictures shows US Federal Reserve Board Chairman Jerome Powell (left) and President Donald Trump. Photo: AFP
Artificial intelligence

China banks buffer against AI contagions as US sweats over Anthropic’s Mythos

With Beijing prioritising financial stability, analysts say state lenders take a measured approach to generative models amid growing global cybersecurity risks.

Banking & finance

As France pulls gold from the US, how can China become the next global gold hub?

Federal Reserve is no longer seen as a ‘safe’ place for nations to store gold as Trump’s unpredictability spooks the world’s central banks.

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Hong Kong property

Hong Kong developers test homebuyers with price increases after sell-outs

‘This is a classic recovery-phase strategy: testing price elasticity without undermining the building momentum,’ an analyst says.

The Chester has 241 flats with layouts from one to four bedrooms. Photo: Handout
Commodities

Gold may reverse course once Iran war ends, Fed adopts policy easing

Gold has been on a wild ride this year, surging as much as 25 per cent before the war in Iran wiped out almost all the gains.

Central banks

Macroscope | Asian central banks largely powerless in face of Iran war energy shock

Central banks cannot pump oil into the global economy in the same way they can flood the financial system with liquidity.

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Hong Kong property

La Mirabelle sells in hours as developers ramp up sales, buyers fret over rates

All 254 Tseung Kwan O flats snapped up as developers step up supply and demand stays firm.

La Mirabelle in Harbour Bay is to be developed in two phases, each comprising about 1,200 units, for a total of 2,550 units. Photo: Handouit
Hong Kong property

Hong Kong developers test market with 222 units released amid rate uncertainty

So far this year, 5,500 new residential units have been sold in Hong Kong, a 25 per cent increase compared to the same period last year.

An aerial view of the Kowloon district of Hong Kong. Photo: Sam Tsang
Hong Kong property

Hong Kong home prices surge to 22-month high, but Iran war clouds outlook

Price gains accelerated in February, according to official government index, but interest-rate risk looms, analysts say.

Hong Kong property

Will a longer pause in rate cuts threaten Hong Kong’s property upturn?

A wait-and-see approach by Hong Kong homebuyers amid rising geopolitical uncertainties could dampen recovery in the sector.

Commodities

Gold slides as hawkish Fed and strong US dollar override geopolitical fears

Market watchers point to fading hopes of interest rate cuts and oil-driven inflation concerns as key drivers of the decline.

A modest rebound driven by technical buying on Friday did little to alter the broader downtrend, with gold prices hovering around the US$4,500 level. Photo: DPA
Hong Kong Monetary Authority (HKMA)

HKMA warns of interest rate uncertainty amid Middle East conflict

HKMA leaves city’s base rate untouched at 4 per cent, as HSBC, Standard Chartered and BOCHK keep prime lending and saving rates unchanged.

The Hong Kong Monetary Authority maintained the city’s base rate at 4 per cent on Thursday. Photo: Jonathan Wong
United States

US Fed defies Trump to keep interest rates unchanged amid Iran war concerns

Spiking oil prices could fuel inflation and curb growth, even as the US president repeatedly calls for rate cuts.

United States

Trump administration urges judge to revisit ruling blocking Powell subpoenas

A federal judge had ruled on Friday that a DOJ investigation into Powell was intended to pressure the Fed chairman to lower interest ‌rates.

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