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Jerome Powell

Jerome Powell: Known for his leadership as the current Chairman of the US Federal Reserve, a role he has held since 2018. He oversees monetary policy, aiming for maximum employment and price stability, and guided the Fed’s extensive intervention during the COVID-19 pandemic. His background includes significant experience in investment banking, notably as a partner at The Carlyle Group, and public service as an Under Secretary at the US Treasury. He previously served on the Federal Reserve Board of Governors from 2012. Powell, a lawyer by training, is recognised for his consensus-building approach and expertise in financial markets and fiscal policy.

The Hang Seng Index edges down less than 0.1 per cent on Thursday. Photo: Jelly Tse

Hong Kong stock market

Hong Kong stocks end flat as traders await policy signals from China conference

Investors look to CEWC for growth target, property sector stabilisation and measures to boost domestic demand.

11 Dec 2025 - 6:05PM

Banking & finance

Six major Hong Kong banks keep prime rates unchanged despite HKMA base rate cut

11 Dec 2025 - 5:55PM

United States

US Fed delivers quarter-point rate cut as policymakers weigh inflation outlook

11 Dec 2025 - 4:34AMvideocam

Hong Kong stock market

Hong Kong stocks end higher as China stimulus hopes spark property rally

Market sentiment buoyed by China homebuyer loan support talk and Vanke debt progress.

10 Dec 2025 - 5:09PM

Hong Kong stocks rally in the afternoon. Photo: Shutterstock

Yuan

China sets strongest yuan fix in over a year as Fed-cut bets rise

China’s currency is outperforming the euro and yen despite economic headwinds, with analysts pointing to Beijing’s geopolitical leverage as the driver.

26 Nov 2025 - 3:18PM

United States

Trump eyes Christmas deadline to name new Fed chair: Bessent

The US treasury secretary says simplifying the Fed is key, as he conducts interviews with the five candidates to succeed Chair Jerome Powell.

26 Nov 2025 - 1:52AMvideocam

United States

38-day US government shutdown far worse than expected: Hassett

White House adviser Kevin Hassett told reporters he expects an economic recovery after the government reopens, but did not declare a recession.

7 Nov 2025 - 10:50PM

Kevin Hassett, Director of the National Economic Council of the United States, speaks with the media outside the White House last month. Photo: AFP

Yuan

As China holds the line in ‘trade war 2.0’, its yuan follows suit

With minimal depreciation and more frequent use overseas, the yuan has shown greater resilience in this round of the US trade conflict.

5 Nov 2025 - 6:19AMvideocam

US-China trade war

US government shutdown hinders key data insights, impact of Trump’s tariffs

Fed Governor Lisa Cook warns lack of government data has challenged the US central bank’s ability to assess current economic climate.

5 Nov 2025 - 3:51AMvideocam

United States

Editorial | Cheaper Chinese goods will aid Trump’s push to lower interest rates

The US-China deal will bring some relief to US inflationary pressure, strengthening the American president’s case for the Fed to further ease rates.

4 Nov 2025 - 6:45AM

A container ship sails past the port in Qingdao, in China’s eastern Shandong province, on October 9. Photo: AFP / Getty Images / TNS

Interest rates

HSBC, other Hong Kong banks cut prime rate to as low as 5%

Half-point reduction over the last six weeks will be positive for the property market and the economy in general, HKMA boss says.

30 Oct 2025 - 4:56PM

People shopping at Tsim Sha Tsui in Hong Kong on September 1. Photo: Sam Tsang

United States

US Fed lowers key rate, but Powell says December cut not guaranteed

The central bank’s second consecutive quarter-point cut seeks to bolster the flagging US labour market.

30 Oct 2025 - 3:20AM

China inflation

Macroscope | Forget inflation, deflation poses bigger risk to Asia’s economies

While Asia has not had inflation worries for some time, its economic future has become more closely tied to China’s, with all that entails.

16 Oct 2025 - 5:13PMvideocam

Yuan

China’s central bank sets yuan at highest rate against US dollar in a year

PBOC sets high midpoint rate for yuan, separately reports slowdown in Chinese credit growth, as expectations rise for a US interest rate cut.

16 Oct 2025 - 6:08PMvideocam

US dollar and Chinese yuan notes. Illustration: Reuters

Hong Kong stock market

Hong Kong stocks halt longest losing streak since 2024 on Fed rate cut hopes

Hang Seng Index rises 1.8 per cent after a nearly 7 per cent drop over the past seven trading sessions.

15 Oct 2025 - 5:13PM

Jerome Powell has signalled that the Fed may deliver a quarter-point rate reduction at its October policy meeting. Photo: Reuters

Commodities

China’s US$21 billion in gold ETFs shines amid metal’s continued rise

Banks including Julius Baer, JPMorgan Private Bank and Lombard Odier see no end to gold’s record-setting run as demand remains robust.

3 Oct 2025 - 7:30AM

United States

Supreme Court bars Trump from immediately firing Fed governor Cook

The court will hear arguments in January on the unprecedented attempt to remove a Fed official, challenging the central bank’s independence.

2 Oct 2025 - 2:34AMvideocam

Hong Kong economy

Editorial | US rate cut offers Hong Kong relief but uncertainties remain

The city’s property and stock market can expect a boost but much that is affecting the local economy and its outlook is beyond our control.

21 Sep 2025 - 6:45AM

US Federal Reserve chairman Jerome Powell listens during a press conference after cutting interest rates for the first time this year, in Washington, US, on September 17. Photo: Reuters

Donald Trump

Trump asks US Supreme Court to allow firing of Fed Governor Lisa Cook

Trump first tried to fire Cook on August 25, saying she committed mortgage fraud.

19 Sep 2025 - 10:05AMvideocam

Hong Kong economy

Hong Kong sticking with 2-3% growth target despite rate cut: Paul Chan

Finance chief maintains earlier forecast of city’s economic growth this year, despite base interest rate cut to 4.5 per cent on Thursday.

18 Sep 2025 - 6:30PM

Hong Kong economy

Fed rate cut boosts Hong Kong chief’s economy push

Lower interest rates may draw investors to Hong Kong stocks and property, as chief executive works to revive the city’s economy and its status as a global financial centre.

18 Sep 2025 - 5:15PM

Banking & finance

Hong Kong matches US Fed’s rate cut in boon for borrowers, economy

The quarter-point cut reduced Hong Kong’s base rate to 4.5 per cent, the lowest since December 2022.

18 Sep 2025 - 10:48AM

Hong Kong’s de facto central bank cut the city’s base rate for the first time this year, bringing down the cost of funding to help reboot businesses and reduce the burden on mortgage borrowers. Photo: Karma Lo

United States

US Fed cuts rates for first time in 2025 amid Trump pressure, weaker job outlook

The central bank lowered the rate by a quarter of 1 percentage point, with two more cuts likely this year.

18 Sep 2025 - 3:19PM

Yuan

China’s offshore yuan strengthens further against US dollar as rate cuts loom

The offshore currency breached a rate of 7.1 against the US dollar as an expected interest rate cut from the Federal Reserve approaches.

17 Sep 2025 - 2:00PMvideocam

US Federal Reserve

Trump administration renews push to fire Fed governor Lisa Cook

Government said Cook’s legal arguments for why she should stay in the job were meritless. She has been accused of mortgage fraud.

15 Sep 2025 - 4:28AM

Federal Reserve Governor Lisa Cook. Photo: AFP

United States

US stocks wobble as Wall Street wrangles with whether job market is too weak

Hopes that weak employment data would spur the Fed to cut interest rates were balanced by fears that an economic downturn is looming.

6 Sep 2025 - 5:18AMvideocam

The New York Stock Exchange. While the data on the US job market is disappointing, it is still not so weak that it is screaming a recession. Photo: AP

United States

Hiring stalls as US firms hold back expansion amid economic uncertainty

US employers added just 22,000 jobs in August, slowing from July and coming in below economists’ expectations.

5 Sep 2025 - 9:40PMvideocam

United States

Trump admin opens criminal mortgage fraud probe into Fed governor Lisa Cook

The US president has fired Cook over the accusations, prompting her to file a lawsuit challenging his effort to oust her.

5 Sep 2025 - 4:33AM

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Jerome Powell

Hong Kong stocks end flat as traders await policy signals from China conference

Investors look to CEWC for growth target, property sector stabilisation and measures to boost domestic demand.

Six major Hong Kong banks keep prime rates unchanged despite HKMA base rate cut

US Fed delivers quarter-point rate cut as policymakers weigh inflation outlook

Hong Kong stocks end higher as China stimulus hopes spark property rally

Market sentiment buoyed by China homebuyer loan support talk and Vanke debt progress.

China sets strongest yuan fix in over a year as Fed-cut bets rise

China’s currency is outperforming the euro and yen despite economic headwinds, with analysts pointing to Beijing’s geopolitical leverage as the driver.

Trump eyes Christmas deadline to name new Fed chair: Bessent

The US treasury secretary says simplifying the Fed is key, as he conducts interviews with the five candidates to succeed Chair Jerome Powell.

38-day US government shutdown far worse than expected: Hassett

White House adviser Kevin Hassett told reporters he expects an economic recovery after the government reopens, but did not declare a recession.

As China holds the line in ‘trade war 2.0’, its yuan follows suit

With minimal depreciation and more frequent use overseas, the yuan has shown greater resilience in this round of the US trade conflict.

US government shutdown hinders key data insights, impact of Trump’s tariffs

Fed Governor Lisa Cook warns lack of government data has challenged the US central bank’s ability to assess current economic climate.

.css-1m2rp1p{color:#34b8b5;}Editorial | Cheaper Chinese goods will aid Trump’s push to lower interest rates

The US-China deal will bring some relief to US inflationary pressure, strengthening the American president’s case for the Fed to further ease rates.

HSBC, other Hong Kong banks cut prime rate to as low as 5%

Half-point reduction over the last six weeks will be positive for the property market and the economy in general, HKMA boss says.

US Fed lowers key rate, but Powell says December cut not guaranteed

The central bank’s second consecutive quarter-point cut seeks to bolster the flagging US labour market.

Macroscope | Forget inflation, deflation poses bigger risk to Asia’s economies

While Asia has not had inflation worries for some time, its economic future has become more closely tied to China’s, with all that entails.

China’s central bank sets yuan at highest rate against US dollar in a year

PBOC sets high midpoint rate for yuan, separately reports slowdown in Chinese credit growth, as expectations rise for a US interest rate cut.

Hong Kong stocks halt longest losing streak since 2024 on Fed rate cut hopes

Hang Seng Index rises 1.8 per cent after a nearly 7 per cent drop over the past seven trading sessions.

China’s US$21 billion in gold ETFs shines amid metal’s continued rise

Banks including Julius Baer, JPMorgan Private Bank and Lombard Odier see no end to gold’s record-setting run as demand remains robust.

Supreme Court bars Trump from immediately firing Fed governor Cook

The court will hear arguments in January on the unprecedented attempt to remove a Fed official, challenging the central bank’s independence.

Editorial | US rate cut offers Hong Kong relief but uncertainties remain

The city’s property and stock market can expect a boost but much that is affecting the local economy and its outlook is beyond our control.

Trump asks US Supreme Court to allow firing of Fed Governor Lisa Cook

Trump first tried to fire Cook on August 25, saying she committed mortgage fraud.

Hong Kong sticking with 2-3% growth target despite rate cut: Paul Chan

Finance chief maintains earlier forecast of city’s economic growth this year, despite base interest rate cut to 4.5 per cent on Thursday.

Fed rate cut boosts Hong Kong chief’s economy push

Lower interest rates may draw investors to Hong Kong stocks and property, as chief executive works to revive the city’s economy and its status as a global financial centre.

Hong Kong matches US Fed’s rate cut in boon for borrowers, economy

The quarter-point cut reduced Hong Kong’s base rate to 4.5 per cent, the lowest since December 2022.

US Fed cuts rates for first time in 2025 amid Trump pressure, weaker job outlook

The central bank lowered the rate by a quarter of 1 percentage point, with two more cuts likely this year.

China’s offshore yuan strengthens further against US dollar as rate cuts loom

The offshore currency breached a rate of 7.1 against the US dollar as an expected interest rate cut from the Federal Reserve approaches.

Trump administration renews push to fire Fed governor Lisa Cook

Government said Cook’s legal arguments for why she should stay in the job were meritless. She has been accused of mortgage fraud.

US stocks wobble as Wall Street wrangles with whether job market is too weak

Hopes that weak employment data would spur the Fed to cut interest rates were balanced by fears that an economic downturn is looming.

Hiring stalls as US firms hold back expansion amid economic uncertainty

US employers added just 22,000 jobs in August, slowing from July and coming in below economists’ expectations.

Trump admin opens criminal mortgage fraud probe into Fed governor Lisa Cook

The US president has fired Cook over the accusations, prompting her to file a lawsuit challenging his effort to oust her.

Editorial | Cheaper Chinese goods will aid Trump’s push to lower interest rates