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U.S. President Donald Trump speaks next to Federal Reserve Chair Jerome Powell during a tour of the Federal Reserve Board building, which is currently undergoing renovations, in Washington, D.C., U.S., July 24, 2025.

REUTERS

Why is Trump threatening the Fed, and why does it matter?

On Thursday afternoon, just before golden hour, President Donald Trump threw a white hardhat over his flaxen coif and strode into the Federal Reserve building on Constitution Avenue.

The stated purpose of his visit to the world’s most influential central bank was almost comically mundane: he was there to inspect a building renovation project for cost overruns. Trump is, as he likes to remind people, a “builder,” so he knows an overpriced crown molding when he sees one. He says the $2.5-billion project, funded by Congress, is already more than $500 million over budget. The Fed disputes this number.

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FILE PHOTO: Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024.

REUTERS/Tom Brenner/File Photo

Interest rate cuts are doing their thing. Will more come soon?

Recent rate cuts by the Federal Reserve and the Bank of Canada, along with lower inflation rates in both countries, are spurring … talk of more cuts. This includes a potential “jumbo” cut this month in Canada.

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Designing CBDCs for success

The decision to develop a central bank digital currency, or a CBDC, must be the outcome of wide-ranging policy and technology choices. What factors are at play in designing and implementing CBDCs? Which of the G7 foundational principles should be emphasized, and where can the private sector lend valuable experience? To find out, read the latest report from the Visa Economic Empowerment Institute.

The Graphic Truth: Russia's forex war chest

He prepared for a standoff with the West. President Vladimir Putin has built up his country’s foreign currency reserves to the tune of over $640 billion to insulate the Russian economy. It was a solid plan until the US, EU and global partners announced stinging sanctions against Moscow over its invasion of Ukraine. This includes a plan to ban some Russian banks from SWIFT — a global network for payments between banks — as well as sanctioning Russia’s central bank, which will make it hard for the Kremlin to tap into some of the reserves needed to prop up the crashing rouble. We take a look at Russia’s forex war chest since Putin came to power in 2000.

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