Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Office phones, printers, building control systems and more — these may not sound like computers but they can all be hacked according to cybersecurity pros.Technologyread more
Software stocks are the place to be in tech as the sector mounts a recovery from its recent pullback, some analysts say.Trading Nationread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
South Korea will scrap an intelligence-sharing pact with Japan amid an intensifying dispute over history and trade, South Korea's presidential office said on Thursday.Asia Politicsread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
U.S. Secretary of State Mike Pompeo praised Denmark as a cooperative ally following a phone call with his Danish counterpart.World Politicsread more
"It's a correction that I think is caused by the Fed and interest rates," Trump said from the Oval Office. "The dollar is very strong, very powerful – and it causes difficulty doing business."
Trump said he believes that the Fed's monetary policy "is far too stringent," adding that "they're making a mistake and it's not right."
In a response to whether he is considering firing Powell, Trump said, "No, I'm not going to fire him. I'm just disappointed."
The Federal Reserve Act of 1913 outlines the appointment and removal of Fed officials, saying they are to serve four-year terms "unless sooner removed for cause by the President." The act does not clarify what the required magnitude is for the president's cause of removal.
Trump has previously expressed displeasure with the central bank, and that's led some to fear that the institution's independence is at risk. His attacks on the Fed renewed late Wednesday, when he said he was "not happy" with the central bank's policy decisions. Trump told Fox News that he could't understand why Powell was continuing to tighten U.S. monetary policy.
"The Fed is going wild," Trump said during a telephone interview Wednesday. "The problem [causing the market drop] in my opinion is Treasury and the Fed. The Fed is going loco and there's no reason for them to do it. I'm not happy about it."
U.S. officials have sought in recent months to emphasize that Trump would honor the Fed's historic ability to make decisions independent of political interference.
"We as an administration absolutely support the independence of the Fed," Treasury Secretary Steven Mnuchin reportedly said in July.
As recently as Tuesday, Trump had signaled that he understood the importance of maintaining a firewall between the White House and the Fed. Even as he expressed concerns about the central bank's interest rate policy, Trump told reporters at the White House on Tuesday that he had not spoken to Powell about them.
"I like to stay uninvolved with them. I have not spoken" to Powell all year, the president said.
Trump's attitude toward the Fed seemed to change Wednesday, however, as fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points by day's end. The posted its worst day since February and clinched its first five-day losing streak since 2016.