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The Trump administration has renewed efforts to remove Federal Reserve Governor Lisa Cook, sending a letter that cites unproven mortgage fraud allegations. Cook, the first Black woman to serve on the Fed board, has until late August to respond, while her lawyers vow to fight the move.
The US economy lost 23,000 jobs in July, with the labor force participation rate falling to a five-year low of 61.4%. Job declines were widespread, including retail, hospitality, and government, while healthcare added positions.
Bank of Japan Governor Kazuo Ueda said the central bank will closely monitor the effects of its June interest rate hike on the real economy before further policy moves. The step is part of the BOJ's normalization of monetary policy after years of ultra-low rates, but analysts caution about risks to a fragile recovery.
Bank of Japan Governor signaled further rate hikes despite an accommodative economy, reaffirming the central bank's commitment to policy normalization. Analysts see the comments as a key indicator of readiness to tackle inflation and align with global tightening trends.
The Bank of Japan reaffirmed its plan to raise interest rates and warned that core inflation could exceed its 2% target as price pressures broaden. The move signals a more decisive shift toward monetary tightening despite global growth concerns.
Bank of Japan Governor Kazuo Ueda was discharged from hospital on June 26 after treatment for a liver issue, clearing the way for him to attend the July policy meeting. He missed this week's meeting due to health reasons, marking the first such absence by a BOJ governor since 2003.
The U.S. Federal Reserve kept its key interest rate unchanged at its first policy meeting chaired by new President Kevin Warsh. The decision reflects caution amid inflation pressures and labor market uncertainties. Chair Warsh pledged to continue evaluating economic data before any rate changes.
The Federal Reserve kept interest rates unchanged at 3.5-3.75% as U.S. inflation hit 4.2%, a three-year high, driven by energy price surges from the U.S.-Iran conflict. Chairman Kevin Warsh led his first policy meeting amid growing pressure from President Trump to avoid rate hikes. Analysts see a growing probability of a rate hike later this year, with December odds exceeding 50%.
The Bank of Japan may accelerate interest rate hikes as a weak yen and surging oil prices stoke inflation risks, economists warn. The yen hit a 31-year low, while global oil price rises drive up import costs, prompting forecasts of a rate move as early as next quarter.
