Global Rate Cuts: — Donald Trump is struggling to get the Federal Reserve to cut interest rates, but policymakers around the world won’t need so much convincing.
Fed
Trump to fire Powell?
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.
Fed’s Hammack: Tariff impacts remain uncertain
Federal Reserve outlook: Beth Hammack of the Federal Reserve Bank of Cleveland depicted a fundamentally robust economy, despite inflation persistently surpassing the Fed’s target.
Federal Reserve is expected to leave the policy rate unchanged for the fourth consecutive meeting
The United States (US) Federal Reserve (Fed) will announce monetary policy decisions and publish the revised Summary of Economic Projections (SEP), the so-called dot plot, following the June policy meeting on Wednesday.
Fed policymakers express concerns over economic and business sentiment
Federal Reserve: During a discussion panel hosted by the Federal Reserve (Fed) Bank of Atlanta, the San Francisco and Cleveland Fed Bank Presidents Mary C. Daly and Beth Hammack both took the opportunity to express concern about the current state of the US economy. While economic data remains firm, US trade policy has made many consumers and businesses increasingly sour. Atlanta Fed President Raphael Bostic also participated in the event, adding to his previous comments made on Tuesday.
Gold price looks to high-impact US data flow
The first look of the US annualised GDP is expected to show a 0.4% growth in Q1 2025, down from a robust 2.4% expansion in the final quarter of 2024. Goldman Sachs economists expect a negative 0.2% growth.
Forecasting the upcoming week: Investors’ focus remain on tariffs, the Fed and inflation
The US Dollar Index (DXY) closed the week on the defensive and challenging its key 200-week SMA in the mid-102.00s, all against the backdrop of a marked retracement in US yields across the board. The NFIB Business Optimism Index is due on April 8 seconded by the API’s weekly report on US crude oil stockpiles.