JPMorgan Chase CEO Jamie Dimon appeared to be delivering a message to Donald Trump regarding the US President’s pressure campaign on the Federal Reserve, defending the central bank’s independence and cautioning against policy interference.“The independence of the Fed is absolutely critical,” Dimon said on the bank’s second-quarter earnings call, “and not just for the current…
He won a Pulitzer Prize in 1993, and was a finalist four times while at The Arizona Republic. Some of his work rankled his own Mormon community. Source link
US President Donald Trump said on Wednesday that he is not currently planning to remove Federal Reserve Chair Jerome Powell, though he sharply criticised the central bank chief’s performance.“He’s doing a lousy job but no, I’m not talking about that,” Trump told reporters when asked if he was considering Powell’s dismissal, AFP reported. However, he…
The president waved a copy of a draft letter firing Jerome H. Powell at a meeting in the Oval Office with House Republicans. It remains to be seen whether he follows through with his threat. Source link
US stock indices rose on Wednesday after a better-than-expected wholesale inflation report lifted hopes that the Federal Reserve may resume rate cuts later this year.The S&P 500 inched up 0.2% in early trading, nearing its all-time high set last week. The Dow Jones Industrial Average climbed 170 points or 0.4%, and the Nasdaq composite hovered…
Goldman and other investment banks are feeding off a Trump boom. Source link
NEW DELHI: In a rare move, India has enhanced the flying rights of a Gulf nation when it raised weekly seats to 18,000 per week between India and Kuwait from earlier 12,000 — a raise of 50%. Now airlines of both sides can deploy 18,000 seats per week. The agreement was signed by India’s aviation…
Jensen Huang, the chipmaker’s chief executive, is trying to balance his company’s interests as the United States and China compete for supremacy in artificial intelligence. Source link
Wholesale inflation in the US showed no increase in June, indicating continued restraint on upstream price pressures despite mounting concerns over President Donald Trump’s sweeping tariffs, according to fresh data from the Labor Department.The producer price index (PPI), which tracks prices before they reach consumers, was flat in June compared to the previous month, following…
The JPMorgan Chase chief has long been skeptical of the nontraditional, and less regulated, lending business. Now he thinks its best days may be over. Source link
