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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 Hong Kong Monetary Authority maintained the city’s base rate at 4 per cent on Thursday. Photo: Jonathan Wong

Interest rates

HKMA warns of interest-rate uncertainty as Fed’s trajectory remains unclear

HSBC, Standard Chartered and Bank of China (Hong Kong) keep their prime and savings rates unchanged.

30 Apr 2026 - 7:13PMvideocam

United States

Powell says he’ll stay at Fed as governor, defying Trump

30 Apr 2026 - 1:57PM

United States

US drops criminal probe of Fed chair Powell, likely clearing way for Warsh

24 Apr 2026 - 11:47PMvideocam

Banking & finance

America First Fed? Trump pick Warsh signals ‘monetary sovereignty’: analysts

Potential successor to Jerome Powell may pursue policies that pressure US dollar-driven assets and curb global liquidity, analysts say.

22 Apr 2026 - 4:30PMvideocam

Kevin Warsh, nominee for US Federal Reserve chair, testifies on Tuesday during a Senate Banking Committee hearing in Washington. Photo: TNS

United States

Trump’s pick for Fed chief, calls for ‘regime change’ at US central bank

The remarks were made at a contentious confirmation hearing, which took place amid a criminal probe of current chair Jerome Powell.

22 Apr 2026 - 2:26AMvideocam

United States

Trump threatens to fire Fed chair Powell if he doesn’t step down ‘in time’

Powell’s stint as the leader of the central bank expires in May, but his term on Board of Governors does not end until 2028.

15 Apr 2026 - 9:45PM

Artificial intelligence

‘Common ignorance’: how China took the lead in global efforts to govern AI

As AI development gathers speed, governments and industry leaders say guardrails are needed to protect the public from the fast-moving tech.

13 Apr 2026 - 11:04PMvideocam

China is leading a global charge to rein in AI as governments and industry leaders fear the world is entering the unknown in terms of where the technology is going. Photo: Shutterstock

Artificial intelligence

China banks buffer against AI contagions as US sweats over Anthropic’s Mythos

With Beijing prioritising financial stability, analysts say state lenders take a measured approach to generative models amid growing global cybersecurity risks.

10 Apr 2026 - 11:00PM

Yuan

Open Questions | Kenneth Rogoff on why China’s yuan will be a reserve currency within 5 years

Harvard economist explains why cryptocurrencies will never take the US dollar’s place, despite their popularity in underground economies.

30 Mar 2026 - 10:03AMvideocam

Hong Kong stock market

Recession fears grip markets as energy facilities under fire in Middle East

Risk-off mode takes hold as attacks bring crisis to ‘a more dangerous level for the global economy’, analyst says.

19 Mar 2026 - 7:30PM

A file photo shows the Ras Laffan Industrial City, Qatar’s principal site for production of liquefied petroleum gas. Photo: AFP

Hong Kong stock market

Hong Kong, mainland China stocks tumble as oil shock revives recession worries

Shanghai Composite Index falls below 4,000 points for the first time in two months, underscoring investor jitters.

19 Mar 2026 - 5:10PM

A resurgence in oil prices has fuelled concerns about a global recession. Photo: Jelly Tse

Hong Kong Monetary Authority (HKMA)

HKMA warns of interest rate uncertainty amid Middle East conflict

HKMA leaves city’s base rate untouched at 4 per cent, as HSBC, Standard Chartered and BOCHK keep prime lending and saving rates unchanged.

19 Mar 2026 - 5:19PM

United States

Trump administration urges judge to revisit ruling blocking Powell subpoenas

A federal judge had ruled on Friday that a DOJ investigation into Powell was intended to pressure the Fed chairman to lower interest ‌rates.

17 Mar 2026 - 3:13AM

United States

Judge quashes subpoenas of Fed chair, says probe was ‘politically motivated’

A ‘mountain of evidence’ suggests the subpoenas were to pressure Jerome Powell to obey Trump’s demands to cut interest rates, the judge says.

14 Mar 2026 - 4:17AMvideocam

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

China stock market

Trump’s Fed pick Warsh stokes uncertainty as investors weigh his policy shifts

US Treasuries have been falling recently, partially reflecting investor concerns that Warsh’s succession will slow rate reductions.

8 Mar 2026 - 9:30AM

Former US Federal Reserve Governor Kevin Warsh speaks during a monetary policy conference at Stanford University’s Hoover Institution in Palo Alto, California, May 9, 2025. Photo: Reuters

US-China relations

US seeks fair China competition, looks to realign Latin America ties

Scott Bessent says Washington wants to reduce security risks without decoupling from Beijing as it steps up engagement across Latin America.

11 Feb 2026 - 6:16AMvideocam

Banking & finance

Macroscope | Trump-Takaichi meddling in finance spells more turbulence ahead

The two leaders’ moves into economics despite their lack of knowledge threaten to further destabilise global finance and inflate debt levels.

7 Feb 2026 - 4:30PMvideocam

Donald Trump

Why gold still glitters in Asia despite volatility triggering ‘panic selling’

Investors are also looking to buy more silver despite the recent rush of funds towards the US dollar, analysts say.

6 Feb 2026 - 5:07PM

The outlook for gold remains strong in Asia due to its reputation as a safe haven investment. Photo: Shutterstock

Banking & finance

‘America First’ Fed? Why China economists doubt Trump’s pick can boost US dollar

Kevin Warsh unlikely to deliver long-term rebound while central bank independence still at risk, analysts say.

2 Feb 2026 - 7:00PM

United States

Trump picks former Federal Reserve official Kevin Warsh to chair US central bank

The nomination comes as economic issues – from tariffs to affordability – dominate the policy agenda ahead of the November midterm elections.

31 Jan 2026 - 6:29AMvideocam

US Federal Reserve

Before Trump’s Fed pick, a new clear favourite emerges for chair

Betting markets show shiny odds for a former governor, with a prominent asset manager trailing a distant second as the announcement looms.

30 Jan 2026 - 7:14PM

Who will replace Jerome Powell as the next chair of the US Federal Reserve? Photo: Reuters

Interest rates

HKMA warns of risks as Hong Kong follows Fed in keeping interest rate unchanged

Analysts see the first US rate cut in June, with a falling Hong Kong interbank rate set to bring relief to borrowers.

29 Jan 2026 - 12:54PM

The Hong Kong Monetary Authority kept its base rate unchanged at 4 per cent on Thursday. Photo: Jonathan Wong

United States

US Federal Reserve holds interest rates steady, defying Trump pressure

The US president had been pushing for cuts at the central bank’s first policy gathering this year.

29 Jan 2026 - 3:33AMvideocam

Banking & finance

Trump says the US dollar can move like a yo-yo. Will Treasuries be left hanging?

With the US president levelling threats at enemies, allies and his own central bank, alternatives like gold and Chinese assets are gaining appeal.

28 Jan 2026 - 11:18AMvideocam

US-China trade war

‘Not sustainable’: China central bank adviser flags US debt risk

As concerns mount over America’s ballooning debt, one of Beijing’s economic advisers warns fiscal discipline may not be on cards.

22 Jan 2026 - 12:00PM

China has now reduced its holdings of US debt to the lowest level since 2008. Photo: Shutterstock

Japan

Japan’s conservatives turn sour on Trump as ‘fears of abandonment’ deepen

Right-wing media outlets and politicians are now concerned that Trump’s second term will harm Japan’s trade and security interests.

22 Jan 2026 - 6:17PMvideocam

US President Donald Trump (left) and Japan’s Prime Minister Sanae Takaichi on board the USS George Washington aircraft carrier in the Japanese city of Yokosuka in October. Photo: AFP

United States

Macroscope | Multilateral institutions’ critique of Trump’s actions is too muted

US funding of multinational bodies seems to be keeping their critique muted. The power of the purse should not ensure immunity from criticism.

17 Jan 2026 - 5:07PMvideocam

US-China relations

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.

16 Jan 2026 - 9:00PMvideocam

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Jerome Powell

HKMA warns of interest-rate uncertainty as Fed’s trajectory remains unclear

HSBC, Standard Chartered and Bank of China (Hong Kong) keep their prime and savings rates unchanged.

Powell says he’ll stay at Fed as governor, defying Trump

US drops criminal probe of Fed chair Powell, likely clearing way for Warsh

America First Fed? Trump pick Warsh signals ‘monetary sovereignty’: analysts

Potential successor to Jerome Powell may pursue policies that pressure US dollar-driven assets and curb global liquidity, analysts say.

Trump’s pick for Fed chief, calls for ‘regime change’ at US central bank

The remarks were made at a contentious confirmation hearing, which took place amid a criminal probe of current chair Jerome Powell.

Trump threatens to fire Fed chair Powell if he doesn’t step down ‘in time’

Powell’s stint as the leader of the central bank expires in May, but his term on Board of Governors does not end until 2028.

‘Common ignorance’: how China took the lead in global efforts to govern AI

As AI development gathers speed, governments and industry leaders say guardrails are needed to protect the public from the fast-moving tech.

China banks buffer against AI contagions as US sweats over Anthropic’s Mythos

With Beijing prioritising financial stability, analysts say state lenders take a measured approach to generative models amid growing global cybersecurity risks.

.css-19im5qg{color:#c79a00;}Open Questions | Kenneth Rogoff on why China’s yuan will be a reserve currency within 5 years

Harvard economist explains why cryptocurrencies will never take the US dollar’s place, despite their popularity in underground economies.

Recession fears grip markets as energy facilities under fire in Middle East

Risk-off mode takes hold as attacks bring crisis to ‘a more dangerous level for the global economy’, analyst says.

Hong Kong, mainland China stocks tumble as oil shock revives recession worries

Shanghai Composite Index falls below 4,000 points for the first time in two months, underscoring investor jitters.

HKMA warns of interest rate uncertainty amid Middle East conflict

HKMA leaves city’s base rate untouched at 4 per cent, as HSBC, Standard Chartered and BOCHK keep prime lending and saving rates unchanged.

Trump administration urges judge to revisit ruling blocking Powell subpoenas

A federal judge had ruled on Friday that a DOJ investigation into Powell was intended to pressure the Fed chairman to lower interest ‌rates.

Judge quashes subpoenas of Fed chair, says probe was ‘politically motivated’

A ‘mountain of evidence’ suggests the subpoenas were to pressure Jerome Powell to obey Trump’s demands to cut interest rates, the judge says.

Trump’s Fed pick Warsh stokes uncertainty as investors weigh his policy shifts

US Treasuries have been falling recently, partially reflecting investor concerns that Warsh’s succession will slow rate reductions.

US seeks fair China competition, looks to realign Latin America ties

Scott Bessent says Washington wants to reduce security risks without decoupling from Beijing as it steps up engagement across Latin America.

.css-1pcrwvc{color:#2aa191;}Macroscope | Trump-Takaichi meddling in finance spells more turbulence ahead

The two leaders’ moves into economics despite their lack of knowledge threaten to further destabilise global finance and inflate debt levels.

Why gold still glitters in Asia despite volatility triggering ‘panic selling’

Investors are also looking to buy more silver despite the recent rush of funds towards the US dollar, analysts say.

‘America First’ Fed? Why China economists doubt Trump’s pick can boost US dollar

Kevin Warsh unlikely to deliver long-term rebound while central bank independence still at risk, analysts say.

Trump picks former Federal Reserve official Kevin Warsh to chair US central bank

The nomination comes as economic issues – from tariffs to affordability – dominate the policy agenda ahead of the November midterm elections.

Before Trump’s Fed pick, a new clear favourite emerges for chair

Betting markets show shiny odds for a former governor, with a prominent asset manager trailing a distant second as the announcement looms.

HKMA warns of risks as Hong Kong follows Fed in keeping interest rate unchanged

Analysts see the first US rate cut in June, with a falling Hong Kong interbank rate set to bring relief to borrowers.

US Federal Reserve holds interest rates steady, defying Trump pressure

The US president had been pushing for cuts at the central bank’s first policy gathering this year.

Trump says the US dollar can move like a yo-yo. Will Treasuries be left hanging?

With the US president levelling threats at enemies, allies and his own central bank, alternatives like gold and Chinese assets are gaining appeal.

‘Not sustainable’: China central bank adviser flags US debt risk

As concerns mount over America’s ballooning debt, one of Beijing’s economic advisers warns fiscal discipline may not be on cards.

Japan’s conservatives turn sour on Trump as ‘fears of abandonment’ deepen

Right-wing media outlets and politicians are now concerned that Trump’s second term will harm Japan’s trade and security interests.

Macroscope | Multilateral institutions’ critique of Trump’s actions is too muted

US funding of multinational bodies seems to be keeping their critique muted. The power of the purse should not ensure immunity from criticism.

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.

Open Questions | Kenneth Rogoff on why China’s yuan will be a reserve currency within 5 years

Macroscope | Trump-Takaichi meddling in finance spells more turbulence ahead