Trump advisor calls on Powell: Leave the Federal Reserve immediately!
U.S. President Trump's top economic adviser, Hassett, has once again publicly called for former Federal Reserve Chairman Powell to step down from the Federal Reserve Board.
Bessent Moves to Calm Markets: Rise in U.S. Treasury Yields Is a Global Phenomenon; Dismisses AI Bubble Concerns
U.S. Treasury Secretary Bessent defended the rise in U.S. Treasury yields, stating that this round of increases is a global phenomenon, not unique to the United States, and does not warrant excessive concern. He attributed some of the inflationary pressures to rising oil prices caused by the conflict in Iran, expecting the energy shock to subside as hostilities ease. Bessent dismissed the notion of an AI bubble, arguing that investments by tech giants are underpinned by sound business logic.
Weekly Outlook | The Fed minutes are coming! Can expectations of rate hikes be reversed? The World Artificial Intelligence Summit has opened, with executives from OpenAI, NVIDIA, and others set to participate.
Earnings season is kicking off, with PepsiCo, Delta Air Lines, and others set to report first; a concentrated auction of over $61 billion in long-term U.S. Treasury bonds is underway, putting yields under supply-side pressure.
U.S. nonfarm payrolls in September came in well below expectations, weakening bets on a rate hike in October and prompting traders to no longer fully price in another Fed rate increase this year.
U.S. nonfarm payrolls increased by just 29,000 in September, well below the expected 90,000, while the unemployment rate edged up to 4.2% from 4.1% in August. Following the release, the probability of a Fed rate hike in October fell from 29% to 17%, and the cumulative rate‑hike expectation for the remaining two meetings this year was revised down to roughly 21 basis points. The yield on the two-year Treasury note dropped 10 basis points in a single day, and S&P 500 futures rose 0.8%. Economists attribute the unusually weak reading to distortions in seasonal adjustments rather than a fundamental shift in the labor market.
U.S. Stock Market Preview | September Nonfarm Payrolls Missed Expectations! All three major index futures rose, while oil prices fell; Toshiba's HDD capacity expansion weighed on the sector, sending memory-related stocks lower in pre-market trading; Tesla's Q3 delivery figures will be released today.
Ahead of Friday's open, the three major U.S. stock index futures rose. Foreign media analysts note that as long as nonfarm payrolls no longer fuel expectations of Fed rate hikes, they could still weigh on the market.
A 50-basis-point rate hike vs. waiting longer? Divisions emerge within the Federal Reserve
Logan, the Eagle King, has declared: "The second-in-command is saying, 'No need to rush'!"