In the press conference following the Fed’s decision to keep rates unchanged, Powell hesitated to guide toward a rate in the coming months. He struck a hawkish tone, according to a note by Bank of America’s macroeconomics team, putting a damper on investor hopes that the FOMC’s next meeting in September could bring a rate cut.

U.S. President Donald Trump on Friday called for the Federal Reserve’s board of governors to usurp the power of Fed Chair Jerome Powell, criticizing the head of the U.S. central bank for not cutting short-term interest rates.

Trump also continues to face questions over his administration's handling of the Jeffrey Epstein files and his relationship with the accused sex trafficker. On the foreign policy

U.S. President Donald Trump announced on Thursday new tariffs of up to 41% on goods imported from dozens of countries, again citing emergency powers he says he is using to shrink the country's trade deficits with many of its trade partners.