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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.
US President Donald Trump points towards reporters as he arrives at the White House on July 13. Photo: Zuma Press Wire/dpa
United States

Opinion | Trump’s many victories will prove pyrrhic

The US president’s arrogance and bullying have given him short-term wins but also embedded long-term resentment and opposition.

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Hong Kong property

Hang Lung earnings drop 14% as developer flags risks from tariff war, rates

Donald Trump

Trump and US Fed chief Powell bicker during tense central bank visit

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Digital currencies

Opinion | In debt-bloated US, stablecoin a new financial weapon in the making

Forget austerity, Trump has ‘big, beautiful’ spending plans and is exploring US bank-backed stablecoin to turn the spreadsheets around.

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In a landmark win for the ascendant cryptocurrency industry and US President Donald Trump, the US Senate has passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. Photo: Shutterstock
United States

Macroscope | Trump’s crusade against the Fed turning US into an emerging market

If Trump continues to challenge the independence of the US central bank, markets will have to stop giving his behaviour a free pass.

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Donald Trump

Trump says not planning to fire Fed chief, after report prompts drop in stocks

The US president confirmed discussing Powell’s ouster with Republican lawmakers, and continued his attacks on the central bank’s policies.

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United States

US inflation accelerated 2.7% in June, driven by Trump’s tariffs

Consumer prices are at their highest since February, due to Trump’s tariffs, posing challenges for him and complicating the Fed’s interest rate cut which he demands.

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A woman shops for car seats, all made in China, at a Walmart in Rosemead, California. US consumer inflation increased in June. Photo: AFP
Hong Kong stock market

Chinese firms’ H stocks trade at smallest discount to onshore shares in 5 years

The narrowing discrepancy reflects the Hong Kong market’s gains from global investors’ diversification efforts.

China's economic recovery

China’s monetary policy impact not yet seen, PBOC says with 5% GDP goal in mind

Central bank says the economy has not yet seen the full impact of its policy moves, which are evolving and being adapted as needed.

United States

Opinion | Decades of America’s ‘exorbitant privilege’ is ending, thanks to Trump

The US president is systematically destroying faith in the dollar in global financial markets and among governments and central banks.

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US President Donald Trump’s “big beautiful bill”, signed at the White House in Washington, US, on July 4, is expected to add US$3.4 trillion to the budget deficit over the next decade. Photo: Reuters
United States

Macroscope | Why investors banking on ‘peak Trump’ are dangerously wrong

A recent set of upbeat reports shows markets underestimate Trump’s capacity to inflict more damage on the US and global economy.

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A photo illustration of a 3D-printed miniature model of US President Donald Trump and representation of US dollar banknote. Just because the US could remain a relative safe haven does not mean the erosion of confidence in its policymaking should be downplayed. Photo: Reuters
Donald Trump

Trump’s budget bill is a debt bomb. Can the ‘Pennsylvania Plan’ defuse it?

New framework offers recommendations to reduce foreign holdings of US debt – a sum estimated to grow by trillions if spending bill is passed.

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United States

S&P500, Nasdaq hit record highs on renewed AI bets, rate-cut hopes

A US-brokered ceasefire between Israel and Iran that sparked higher crude prices also boosted market confidence.

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United States

US economy shrank 0.5% in first quarter, worse than earlier estimates revealed

The unexpected contraction, largely driven by trade war disruptions, reverses recent growth.

Consumers have turned jittery since Donald Trump started plastering big taxes on imports. Photo: AFP
United States

Opinion | Will markets wake up from the Taco bubble before it’s too late?

Despite a brief reprieve for the stock market, trade tensions and weaknesses in the US economy still threaten global financial stability.

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A bobble-head figurine of US President Donald Trump is seen on a desk as traders work on the floor of the New York Stock Exchange on April 14. Photo: AFP / Getty Images / TNS
Interest rates

HKMA warns carry trades, weak currency to lift borrowing costs in Hong Kong

Caution follows its decision to keep the city’s base rate unchanged in lockstep with the Fed’s overnight move amid inflation threats.

Donald Trump

Trump muses about appointing himself to lead US Fed in new attack on Powell

The US president’s remarks came just before the central bank revealed its decision to hold interest rates steady for a fourth consecutive time.

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Hong Kong property

Yet another luxury property on The Peak on sale at 30% discount

A mansion in Twelve Peaks at 12 Mount Kellett Road is on sale for HK$330 million (US$42 million), down from HK$450 million six years ago.

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Twelve Peaks at 12 Mount Kellett Road has been developed by Sun Hung Kai Properties. Photo: Xiaomei Chen
Yuan

China’s yuan fixing rate hits 2-month high as US dollar drops

With the US dollar sagging, China’s central bank has strengthened the midpoint rate for the country’s currency in recent days.

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Commodities

Crypto can’t chip away at gold’s safe-haven shield: gold researcher

Spot gold price surged to US$3,444 after Israel’s strikes on Iran.

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Hong Kong property

Hong Kong’s real estate market cooled in May, with deals slumping to 3-month low

Transactions fall 11 per cent from a month earlier to 6,442, while value eases 0.5 per cent to US$6.3 billion, according to Land Registry.

Secondary-home transactions in Hong Kong reached 3,244 units worth HK$23.77 billion in May. Photo: Eugene Lee
Donald Trump

Trump meets Fed chief Powell, steps up call for US rate cuts

The president said in the meeting that keeping rates high was putting the US at an economic disadvantage to other countries, including China.

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US President Donald Trump (left) signals the end of ceremony after announcing Jerome Powell (right) as nominee for Chairman of the Federal Reserve at the White House in November 2017. Photo: AFP
Banking & finance

The View | What Asian currency rallies mean for the region’s property markets

While currency appreciation may provide relief for property investors, economies reliant on trade and tourism should proceed with caution.

Donald Trump

Trump says China and Walmart should ‘eat the tariffs’, not raise prices

The US president lashed out at the retail giant after it warned that everything from bananas to child car seats could get more expensive.

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United States

Macroscope | No, stock markets are not a barometer of the world’s economic health

Markets have largely returned to calm after the US-China trade truce but all is not as it seems.

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Traders are seen on the floor of the New York Stock Exchange in the US on May 13. Photo: Reuters
Donald Trump

Trump calls US Fed chair a ‘fool’ after pause in rate cuts

The Fed said on Wednesday that it will hold the US central bank’s key lending rate at between 4.25 per cent and 4.5 per cent.

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US Federal Reserve Board Chairman Jerome Powell takes questions during a news conference in Washington, DC on Wednesday. Photo: AFP
US-China trade war

As tariffs hit US port arrivals, are empty shelves next as inventories sink?

Head of the Port of Los Angeles says the impact on imports is already substantial, with arrivals down by more than a third this week, year on year.

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Banking & finance

Why Hibor at 30-month low is a positive sign for Hong Kong’s economy

Hibor-linked mortgage borrowers will save about US$40 per month after the one-month interbank rate fell by almost 1 percentage point.

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