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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.
A trader works on the floor of the New York Stock Exchange at the opening bell on Monday. Photo: AFP
United States

Trump’s Fed feud sparks market turmoil, dollar dips, gold hits record high

Gold soared as investors fled US assets amid fears of Federal Reserve interference.

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United States

French minister warns Trump: firing Powell risks destabilising US economy

United States

Trump goes to war with the US Federal Reserve: a ‘recipe for disaster’?

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Donald Trump

Trump studying whether to fire Fed chair Powell, adviser says

A bid to remove Powell would threaten the Fed’s independence and could further roil markets already battered by Trump’s tariff war.

US Federal Reserve Chair Jerome Powell speaks during a press conference, in Washington in January. Photo: Reuters
United States

S&P 500, Nasdaq gain on boost from US-Japan tariff talks

Indexes had extended losses on Wednesday after US Fed chair Jerome Powell warned Trump’s trade policies risked pushing inflation.

Banking & finance

Opinion | How Trump is chipping away at the US’ safe-haven status

Trump’s erratic policymaking is a risk typically associated with economically vulnerable autocracies in the developing world.

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Donald Trump

Trump slams US Fed chair Powell, urges ‘termination’ for slowness

It was not immediately clear if Trump was referring to the scheduled end of Powell’s term, or if Trump was seeking to remove Powell as chair.

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US Federal Reserve Chair Jerome Powell speaks at the Economic Club of Chicago on Wednesday. Photo: AFP
United States

Wall Street sinks after US Fed warning, as Nvidia leads decline in tech stocks

Chairman Jerome Powell says the US central bank will not intervene to calm markets roiled by Trump’s tariff war.

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Banking & finance

US Treasury market sees historic yield curve steepening amid Trump’s trade war

Investors demanding higher yield to own 30-year Treasuries over two-year maturities has increased for nine straight weeks.

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United States

US stocks open lower day after Trump pauses tariffs

All three major indices were firmly in the red after notching some of the biggest single-day gains in history in the prior day.

A trader works as a television screen shows news about US President Donald Trump’s trade and tariff policies, on the floor of the New York Stock Exchange on Thursday. Photo: AFP
US-China trade war

Opinion | Why China can and should go all out against Trump in his trade war

China has all the cards and the confidence; but for the US, the likely outcome is the bursting of the US financial bubble and the dollar’s demise.

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Shoppers in Shanghai on February 28. The property bubble has been lanced, people are braced and households have twice as much savings as debt. There is very little economic downside left for China, and no scenario in which it cannot go on. Photo: Reuters
United States

Stocks are making wild swings as markets assess damage from Trump’s trade war

Trump’s tariff blitz fulfilled major campaign promise as he acted without Congress to redraw rules of the international trading system.

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Digital currencies

Hong Kong remains upbeat on Web3 amid crypto market turmoil from US tariffs

Officials again touted the strength of the local Web3 industry, while Binance founder CZ avoided the event despite recent activity in the city.

Donald Trump

Trump hits golf course as stocks plummet for a second straight day over tariffs

The US president shared a TikTok video that claimed he was crashing the stock market on purpose as part of a ‘secret game’.

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Donald Trump plays during the Bedminster Invitational LIV Golf tournament in Bedminster, New Jersey, in July 2022. Photo: AP
United States

US Fed chair warns tariffs likely to push up inflation as Trump urges rate cuts

Powell’s comments suggest the Fed is in no rush to cut its benchmark lending rate from its current elevated level of between 4.25 and 4.5 per cent.

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Trump first nominated Jerome Powell to run the Fed, before turning against him during his first term. Photo: Reuters
United States

US market extends drop as strong jobs report fails to soothe tariff fears

The S&P 500 Index and Nasdaq 100 Index futures sank as China imposed a 34 per cent tariff on all American imports.

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United States

Dow drops 1,600 as US stocks lead worldwide sell-off from Trump tariffs

Wall Street plunged as Trump’s new tariffs sparked fears of a global recession, with the S&P 500 and Dow Jones suffering their worst drops since 2020.

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China's economic recovery

China’s capital outflow pressure may continue for now, top economists warn

Article on social media suggests US policy, low consumer sentiment will continue to motivate capital flight, though movement is likely to be slower.

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Economists have cautioned amid broader uncertainty, capital outflow pressure will remain on China for at least two years. Photo: EPA-EFE
Banking & finance

Macroscope | World is ready to cut US dollar down to size – but not too quickly

The US dollar is too central to the global financial system for the so-called Mar-a-Lago Accord to find traction outside the US. But the search is on for alternatives.

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Hong Kong property

Hong Kong’s home prices fall towards decade low on interest rate, tariff pain

Secondary home prices have declined by a cumulative 27 per cent since January 2022, according to government data.

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Hong Kong economy

Editorial | Uncertainty from the US will have impact on local interest rates

Three key economic factors highlighted by US Fed chairman Jay Powell should have borrowers carefully assessing the interest rate risk.

US Federal Reserve chairman Jerome Powell during a recent press conference at the Federal Reserve in Washington. Photo: EPA-EFE
Hong Kong Monetary Authority (HKMA)

Hong Kong banks keep their prime rates steady after HKMA, Fed hold fire

The Fed is seen cutting rates again by midyear, while Hong Kong banks may lower their prime rates by 0.125 percentage points.

Pedestrians at the Victoria Harbour on February 7, 2025. Photo: Nora Tam
Donald Trump

Wall Street slides, S&P 500 in correction as Trump trade war escalates

The S&P 500 closed more than 10 per cent below its February 19 record, with the Nasdaq and Dow also tumbling.

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Hong Kong property

Hong Kong rents hit 5½-year high as demand surges post-holiday season

Centa-City Rental Index, compiled by Centaline Property, rose 0.46 per cent month on month in February.

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US-China relations

Opinion | Trump a bigger threat to US dollar than China, ex-senior economics officials say

White House brings ‘budgetary chaos with extraordinary speed’, potentially triggering a fiscal crisis and run on US Treasuries market.

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China has indeed been strategically reducing its US Treasuries holdings. Photo: Reuters
Donald Trump

Trump declines to rule out a 2025 US recession

Trump’s tariff threats against China, Canada and Mexico have left US financial markets in turmoil and consumers unsure of future.

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US President Donald Trump speaks to reporters aboard Air Force One. Photo: Reuters
Hong Kong property

Hong Kong homebuyers deliver brisk weekend sales

Strong results for Sun Hung Kai Properties and Henderson Land show improving sentiment after a stamp-duty cut, agents say.

Donald Trump

Macroscope | What could force Trump to back down? Markets, if they wake up

Higher inflation, a sharp slowdown or both point to a much bleaker outlook for the US than markets anticipated when Trump won the election.

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