The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
BERLIN, June 12 (Reuters) - The Federal Reserve remains independent from political interference, a senior U.S. Treasury official told a sceptical Berlin audience on Wednesday, a day after President Donald Trump renewed criticism of the bank's policy stance.
The U.S. central bank, whose independence is viewed as key to economic stability, has been under pressure from Trump to cut interest rates amid his administration's shift towards protectionism and broader signs of potential economic weakness.
"The Fed Interest rate way to(o) high, added to ridiculous quantitative tightening. They dont have a clue," Trump wrote in a tweet on Tuesday.
Asked about Trump's comments during a panel discussion, U.S. Deputy Secretary of Treasury Justin Muzinich said there was no indication of tensions between the Fed and the White House.
"The president has his views, everyone on this panel has his views...," Muzinich said. "But the important point to emphasize is that, politically, the Fed's independence is not in question."
"That's good to hear," said Andreas Dombret, a former member of the Executive Board of Germany's Bundesbank who had asked the question, drawing loud laughter and applause from the audience.
Fed policymakers could decide to cut rates in coming months given recent weak job and inflation data.
(Reporting by Michael Nienaber,; editing by John Stonestreet)