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1 week ago | 
thenationalnews.com | Kyle Fitzgerald
A senior official at the Federal Reserve has suggested that the US central bank should consider cutting interest rates as soon as next month. "We could do this as early as July," Fed Governor Christopher Waller said on CNBC. "That would be my view, whether the committee would go along with it or not."As a governor on the Federal Reserve Board, Mr Waller holds a permanent vote on the central bank's rate-setting Federal Open Market Committee.
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1 week ago | 
thenationalnews.com | Kyle Fitzgerald
The US Federal Reserve kept interest rates unchanged on Wednesday, extending its monetary policy stance amid tariff uncertainty and geopolitical headwinds driving a surge in energy prices. This week's decision marked the fourth consecutive time the Fed has held rates steady after lowering them by 100 basis points to roughly 4.33 per cent last year.
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1 week ago | 
thenationalnews.com | Kyle Fitzgerald
US Federal Reserve chairman Jerome Powell said it could still take months to understand how tariffs will effect the economy, underlining his cautious approach towards cutting interest rates. "We expect a meaningful amount of inflation to arrive in coming months, and we have to take that into account," he told reporters in Washington, after the Fed held interest rates steady at about 4.33 per cent while maintaining its forecast for two quarter-point rate cuts this year.
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1 week ago | 
thenationalnews.com | Kyle Fitzgerald
Rising tension in the Middle East is a reminder that energy is a "cornerstone of peace, stability and ensuring prosperity", Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and Adnoc's managing director and group chief executive, said on Tuesday. The war between Israel and Iran has sparked fears of a potential supply crisis in energy markets, with Brent oil prices rising above $75 a barrel on Tuesday.
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1 week ago | 
thenationalnews.com | Kyle Fitzgerald
The Federal Reserve is poised to keep interest rates unchanged this week, as conflict between Israel and Iran add further uncertainty to the US and global economic outlook. Fed officials in recent months have acknowledged that risks to both inflation and unemployment are rising as a result of President Donald Trump's tariff agenda.
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1 week ago | 
thenationalnews.com | Kyle Fitzgerald
A tax law passed during US President Donald Trump's first term is set to be extended in a move that could increase additional costs US business owners overseas. GILTI (pronounced “guilty”), was first adopted as part of the 2017 Tax Cuts and Jobs Act to target multinationals such as Google and IBM that sought to evade taxes by shifting profits to low-income territories.
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2 weeks ago | 
thenationalnews.com | Kyle Fitzgerald
Oil futures surged after Israel launched a "pre-emptive strike" against Iran in the early hours of Friday. Brent crude jumped $5.01, or 7.02 per cent, to $74.23 a barrel. West Texas Intermediate, the gauge that tracks US crude, rose $5.22, or 7.67 per cent, to $73.26 a barrel at 5.08am UAE time. In an address to the nation, Israeli Prime Minister Benjamin Netanyahu said they had "struck at the heart" of Iran's nuclear enrichment and weaponisation programme.
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2 weeks ago | 
thenationalnews.com | Kyle Fitzgerald
US President Donald Trump said on Thursday that he was frustrated with rising oil prices over fears that tension in the Middle East could disrupt supplies. Brent crude and West Texas Intermediate, which tracks US crude, surged on Wednesday to their highest level since April, before slightly easing on Thursday. “I don't like – the oil prices have gone up just a little bit over the last few days,” Mr Trump told reporters at the White House.
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2 weeks ago | 
thenationalnews.com | Kyle Fitzgerald
Oil prices rose more than 4 per cent on Wednesday as the US was preparing to evacuate non-essential staff from its embassy in Baghdad amid rising regional tension. Brent crude futures rose $1.96, or 3.02 per cent, to $66.82 per barrel. West Texas Intermediate crude gained $2.93, or 4.51 per cent, to $67.90 per barrel at 4pm ET. “It's so fragile.
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2 weeks ago | 
thenationalnews.com | Kyle Fitzgerald
US President Donald Trump on Wednesday said the country's relationship with China is "excellent", as the world's two major economic powers reached a deal to pause their tariff war. In a post on his Truth Social platform, Mr Trump said China will supply the US with magnet and other rare earth minerals while the US will allow Chinese students to attend American universities. "Our deal with China is done. Subject to final approval with President Xi [Jinping] and me," Mr Trump wrote.
