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| US President Donald Trump says he has 'no intention of firing' Fed boss Jerome Powell | US President Donald Trump says he has 'no intention of firing' Fed boss Jerome Powell |
| (32 minutes later) | |
| The US president said he would like Powell to more proactively cut interest rates | The US president said he would like Powell to more proactively cut interest rates |
| US President Donald Trump says he has "no intention of firing" Jerome Powell after repeatedly criticising the Federal Reserve Chair. | US President Donald Trump says he has "no intention of firing" Jerome Powell after repeatedly criticising the Federal Reserve Chair. |
| Speaking to reporters on Tuesday, Trump added he would like Powell to more proactively cut interest rates. | Speaking to reporters on Tuesday, Trump added he would like Powell to more proactively cut interest rates. |
| Last week, the president intensified his of criticism of Powell, calling him "a major loser". That sparked a selloff of stocks, bonds and the US dollar, but the markets have since been recovering from those losses. | Last week, the president intensified his of criticism of Powell, calling him "a major loser". That sparked a selloff of stocks, bonds and the US dollar, but the markets have since been recovering from those losses. |
| The Federal Reserve has not cut rates so far this year, after lowering them by a percentage point late last year. | The Federal Reserve has not cut rates so far this year, after lowering them by a percentage point late last year. |
| It comes after the director of the National Economic Council Director Kevin Hassett said on Friday that Trump was looking into whether it would be possible to sack the Fed chief. | It comes after the director of the National Economic Council Director Kevin Hassett said on Friday that Trump was looking into whether it would be possible to sack the Fed chief. |
| Trump also told reporters he was optimistic about improving trade relations with China. | Trump also told reporters he was optimistic about improving trade relations with China. |
| He said he would be "very nice" in negotiations with Beijing and tariffs would fall if there was a deal, but not to "zero". | He said he would be "very nice" in negotiations with Beijing and tariffs would fall if there was a deal, but not to "zero". |
| Earlier, US Treasury Secretary Scott Bessent reportedly said he expected a de-escalation of the trade war with China, describing the current situation as unsustainable. | |
| After the remarks, major stock markets were higher in Wednesday morning trade. | |
| Japan's Nikkei 225 index was up about 1.9%, the Hang Seng in Hong Kong climbed by around 2.4%, while mainland China's Shanghai Composite edged 0.1% higher. | |
| On Tuesday, US stocks made gains, with the S&P 500 ending Tuesday's session up 2.5% and the Nasdaq rose 2.7%. |