July 10, 2025 – Federal Reserve officials are increasingly aligned on the likelihood of interest rate cuts in 2025, but their June 17-18 meeting minutes reveal a sharp divide over the number and timing of these reductions, reflecting uncertainty driven by President Trump’s trade policies and mixed economic signals. The minutes, released Wednesday, show the … Read more
Federal Reserve Chairman Jerome Powell spoke at the European Central Bank (ECB) Forum on Central Banking in Sintra, Portugal, on July 1, 2025, at 9:30 a.m. ET (3:30 p.m. IST). The panel, moderated by Bloomberg’s Francine Lacqua, focused on the global economy amid policy shifts, featuring Powell alongside ECB President Christine Lagarde, Bank of England … Read more
Trump Threatens to Cut NYC Federal Funding if Zohran Mamdani Wins Mayoral Race Washington, D.C., June 29, 2025 — President Donald Trump escalated his attacks on New York City’s Democratic mayoral candidate Zohran Mamdani, threatening to withhold federal funding if the 33-year-old democratic socialist is elected mayor in November 2025. In a Fox News interview … Read more
On June 27, 2025, U.S. District Judge Wendy Beetlestone in Philadelphia rejected President Donald Trump’s motion to dismiss a defamation lawsuit filed by the Exonerated Five, formerly known as the Central Park Five, marking another setback for Trump’s legal efforts. The lawsuit, filed by Yusef Salaam, Raymond Santana, Kevin Richardson, Antron McCray, and Korey Wise, … Read more
Federal Reserve Chair Jerome Powell Testifies Before Senate Banking Panel Amid Tariff and Rate Cut Debates Washington, D.C., June 27, 2025 — Federal Reserve Chair Jerome Powell delivered his semiannual monetary policy testimony before the Senate Banking, Housing, and Urban Affairs Committee on June 25, 2025, addressing critical issues like inflation, interest rates, and the … Read more
Prague, June 23, 2025, 8:39 PM IST – Federal Reserve Governor Michelle Bowman expressed support for an interest rate cut at the Federal Open Market Committee (FOMC) meeting on July 29-30, 2025, provided inflation pressures remain subdued. Speaking in Prague on June 23, Bowman noted that President Donald Trump’s proposed tariffs are likely to have … Read more
Federal Reserve Governor Christopher Waller indicated that the central bank could begin cutting interest rates as early as July 2025, provided inflation continues to ease and economic data remains favorable. In a CNBC “Squawk Box” interview on June 20, 2025, Waller stated that he does not expect tariffs proposed by the Trump administration to significantly … Read more
In May 2025, U.S. retail sales fell by 0.9%, a steeper decline than the anticipated 0.6% drop, underscoring a cautious pullback in consumer spending amid mounting economic uncertainties. The Commerce Department’s report, released on June 17, 2025, highlighted a broad slowdown in discretionary purchases, marking the second consecutive monthly decline following April’s revised 0.1% decrease. … Read more
In a transformative shift for Nigeria’s energy landscape, the nation’s petrol import bill plummeted by 54% in the first quarter of 2025, dropping from N3.81 trillion in Q1 2024 to N1.76 trillion, according to the National Bureau of Statistics (NBS). This dramatic decline, also reflecting a 47% reduction from N3.3 trillion in Q4 2024, is … Read more
Washington, D.C. – The U.S. federal budget deficit reached $316 billion in May 2025, according to the latest Treasury Department data, marking a significant strain on the nation’s finances. This figure contributes to a year-to-date shortfall that is 14% higher than the same period in 2024, raising concerns among economists and policymakers about the trajectory … Read more