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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.
People drive past an anti-US and Trump billboard in Tehran on Monday.Trump said on Friday he had not decided whether to return to an all-out operation. Photo: EPA
US, Israel war on Iran

Iran halts strikes as Trump gives space to talks

The calmer situation eased worries about a resurgence in inflation and a fresh round of interest rate hikes.

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Banking & finance

US 30-year Treasury streak: what do 5% yields mean for global investors?

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Hong Kong property

Hong Kong homebuyers snap up 138 Garden Regency flats in New Territories

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Interest rates

Macroscope | Silence isn’t golden for a world looking to Kevin Warsh’s Fed

While forward guidance often proved counterproductive, it is the US central bank’s job to inform markets about the outlook for monetary policy, not the other way round.

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A television displays Kevin Warsh, chairman of the US Federal Reserve, speaking at a press conference as traders work on the floor of the New York Stock Exchange on June 17. Warsh spoke about the Federal Reserve decision to keep interest rates unchanged for the fourth time this year. Photo: AFP
US-China relations

Ex-US Fed adviser gets 3 years in prison in China secrets case

John Harold Rogers was convicted of lying to investigators looking into whether he shared confidential data with Chinese operatives.

Banking & finance

China increases holdings of US Treasuries despite diversification trend

Overall foreign holdings climb to US$9.371 trillion in May, with China’s rising to US$659.3 billion after hitting an 18-year low in April.

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United States

US inflation cools on brief ceasefire but Fed keeps rate hike option

New Fed Chair Kevin Warsh tells lawmakers the US central bank has ‘no tolerance for persistently elevated inflation’.

Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Tuesday. Photo: AFP
Global monetary policy

Amid rising dollar risks, Plaza Accord-style unity not feasible: ex-IMF adviser

Economic historian Barry Eichengreen says if current policy paths persist, modern rifts could bring about a confidence crisis in the US currency.

Hong Kong property

‘Good time to enter market’: rebates rise as Hong Kong property demand recovers

Mortgage battle intensifies as lenders raise cash rebates to lure buyers amid Fed rate uncertainty.

Hong Kong stock market

China’s appeal as portfolio diversifier grows: BlackRock strategist

‘China can provide exposure to different economic drivers,’ says Li Wei, the asset manager’s global chief investment strategist.

People walk on a street beneath a screen showing stock market and economic data in Shanghai on June 15. Photo: EPA
China deflation

China’s central bank vows flexibility amid uneven economic picture

PBOC pledges ‘moderately loose’ monetary policy given a ‘more complex and volatile’ environment and domestic ‘structural divergence’.

A readout from the People’s Bank of China's monetary policy committee meeting made no explicit reference to cutting reserve requirement ratios or policy interest rates. Photo: Reuters
Japan

As Japanese yen sinks to a 40-year low, focus turns to the carry trade

Analysts ponder what will happen if the conditions which currently support the currency’s carry trade begin to reverse.

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Hong Kong property

When will Hong Kong’s retail leasing market see a turnaround?

Analysts say that geopolitical tensions, Beijing’s measures against capital flight and potential rate hikes are adding to uncertainties.

Banking & finance

China extends gold-buying binge to 20th month in Beijing’s de-dollarisation push

PBOC’s bullion holdings keep rising as forex reserves dip in June to US$3.42 trillion and the central bank seeks security from sanctions and US market volatility.

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The People’s Bank of China said gold holdings rose to 75.44 million troy ounces (2,346 tonnes) at the end of June. Photo: dpa
International Property

Berkshire Hathaway’s multibillion-dollar Taylor Morrison buy to boost confidence

While Chinese investors are turning away from America, the conglomerate’s US$6.8 billion cash acquisition could encourage more home sales.

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American gated community houses in rural US suburbs. View from above of large residential homes in small town in southwest Florida. Photo: Shutterstock
United States

US Supreme Court boosts Trump’s power to fire officials, but Fed’s Cook keeps job

Justices let Trump fire agency heads, a dramatic expansion of his presidential power.

United States

Editorial | Alan Greenspan’s passing marks the end of an era

Tragically, the long-serving Fed chair’s stance against stricter supervision of the US financial and banking systems came back to haunt him.

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Hong Kong property

Hong Kong property sales more measured as interest rate increase looms

Hong Kong Monetary Authority warns public to beware of interest rate uncertainties.

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An artist’s impression of One Victoria Cove in Hung Hom. Photo: Handout
Banking & finance

China trims US Treasury holdings to 18-year low

Overall foreign holdings of US Treasuries climbed to US$9.353 trillion in April.

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US-China relations

‘A new chapter’: how Warsh’s US Fed debut is being viewed in China

A clearer focus on inflation and institutional changes could mark a watershed moment for the central bank, analysts say.

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United States

US Fed begins Warsh era with hold on interest rates, may hike later this year

The Trump appointee is taking over amid repeated demands by the US president for rate cuts even as inflation becomes a growing concern.

US Federal Reserve Board Chairman Kevin Warsh speaks during a news conference in Washington on Wednesday. Photo: EPA
United States

Macroscope | Investors expecting a US interest rate rise could be in for a surprise

Rising bond yields are doing some of the Fed’s work, as are investor fears over the US central bank’s independence under Kevin Warsh.

US President Donald Trump (right) enjoys a light moment during the swearing-in ceremony for US Federal Reserve chair Kevin Warsh, in the East Room of the White House in Washington, on May 22. Photo: Reuters
Hong Kong stock market

Alibaba and WuXi AppTec decline in Hong Kong after addition to US blacklist

Designation of Chinese firms fuels investor unease, with markets bracing for a potential Fed tightening and an unwinding of the AI trade.

China consumption

Gold slump: China’s sales plunge as precious metal’s price dips

While China’s interest in gold is unlikely to fade, investment-grade product sales have dwindled after 15 months of retail growth.

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Banking & finance

China among top buyers as gold overtakes US Treasuries in global reserves: ECB

Higher prices and global shocks have fuelled demand for gold, as central banks hedge against uncertainty.

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Gold buying reached historic highs in 2025, driven by geopolitical risks and higher valuations. Photo: dpa
United States

Powell uses JFK award speech to defend Fed from political pressure

Former Fed chair urges protection of America’s democratic institutions, warns they face a ‘stress test’.

Caroline Kennedy and her son, Jack Schlossberg, present the 2026 John F. Kennedy Profile in Courage Award to Jerome Powell. Photo: Reuters
Hong Kong economy

Open Questions | Hong Kong must embrace ‘bipolar’ role to thrive in its ‘Stage 3.0’: Charles Li

Veteran deal maker urges an IPO link to lure global resource giants and turn Chinese buyers into owners as city solidifies role as East-West bridge and global capital hub.

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Gold in Hong Kong

World Gold Council says diversification driving China’s growing reserves

China’s gold reserves have grown for 18 straight months, country’s central bank says.

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