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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 shop for groceries at a store in Los Angeles, California in 2025. Consumer spending accounts for more than two-thirds of US economic activity. Photo: EPA
United States

US economic growth slows in second quarter but domestic demand robust

Despite the Middle East conflict, US consumer spending has ‌remained resilient, in part thanks to bigger tax refunds this year.

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US-listed Chinese stocks

Fed uncertainty, AI doubts: the twist benefiting US-listed Chinese stocks

IPO

AI stock rout fells Innolight after mega Hong Kong IPO

Banking & finance

HKMA warns of interest-rate risk as traders bet on September rate rise

HSBC, Standard Chartered, Bank of China (Hong Kong) keep their prime and savings rates unchanged, mirroring HKMA’s decision to hold steady.

The Hong Kong Monetary Authority at the International Financial Centre Building in Central, Hong Kong. Photo: Shutterstock
United States

US Fed holds interest rates steady despite Warsh’s inflation vow

The decision drew dissents from three policymakers on the 12-member panel, as Trump’s Iran war continues to push up prices.

Hong Kong stock market

Hong Kong investors hunker down for Fed decision, jumbo IPO

Both a US Fed rate policy meeting and the largest initial public offering in Hong Kong in seven years will occur on Thursday.

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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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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
Banking & finance

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

The historic run is forcing investors to ask whether high borrowing costs are a short-term headache or the new normal.

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Hong Kong property

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

Top developer clears all units in weekend launch after offering a maximum 16 per cent discount.

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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.

The US Federal Reserve building is seen in Washington in May 2020. Photo: Reuters
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’.

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.

China’s yuan is often cited as a possible alternative to the US dollar in global trade. Photo: Reuters
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.

Banks are competing more aggressively for business after the property market gained momentum this year. Photo: Karma Lo
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.

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’.

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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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Focus has turned to the yen carry trade as the Japanese yen nears a 40-year low against the US dollar. Photo: Reuters
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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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.

A person wears a MAGA (Make America Great Again) visor outside the U.S. Supreme Court, on the day justices have issued orders, in Washington, D.C., U.S., June 29, 2026. REUTERS/Cheney Orr TPX IMAGES OF THE DAY
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.

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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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 Treasury Secretary Scott Bessent at the Treasury Department in Washington on June 11. Photo: EPA
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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New US Federal Reserve Chair Kevin Warsh holds a press conference following a two-day meeting of the Federal Open Market Committee at the US Federal Reserve in Washington on Wednesday. Photo: Reuters
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.

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.

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