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US Federal Reserve

US Federal Reserve
Founded in 1913, the Federal Reserve is the central banking system for the United States.
Workers climb down from a building during a heat advisory on Tuesday in New York. Photo: AP
United States

US jobless claims fall as lay-offs remain low despite economic uncertainty

Despite historically low lay-offs, the labour market appears to be stuck in what economists call a ‘low-hire, low-fire’ state.

Bonds

Macroscope | Bond market sell-off raises stakes for Asia’s tech-driven economies

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Yuan

As the world retreats from US Treasuries, will the sell-off deepen?

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Yuan

China’s US Treasuries slump may not be what it seems

A reduction in China’s direct holdings of US government debt may be partly offset by the nation holding Treasuries via third parties.

Photo: AFP
Yuan

China joins global sell-off of US Treasuries in March as Iran war prompts panic

Seven of the top 10 foreign holders cut their exposure to US government debt, led by Japan, which offloaded US$47.7 billion.

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Banking & finance

Stephen Miran, Trump’s economic guru, is leaving the Fed. What happens now?

Miran quit his job as a Trump economic adviser to join the US Federal Reserve board, where he became known as a vocal dove.

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United States

Warsh confirmed as Fed chair, as US central bank faces Trump assault

He is taking over as the world’s largest economy reels from repeated shocks, including inflation fuelled in part by the Iran war.

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Kevin Warsh testifies during a Senate Banking Committee hearing on his nomination on Capitol Hill in April. Photo: AFP
United States

US Senate confirms Trump pick Kevin Warsh to Federal Reserve Board

The decision clears the way for Warsh to take over the role of Fed chair from Jerome Powell later this week.

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United States

US consumer inflation jumps as Iran war sends energy prices higher

Inflation had been dropping more or less steadily since peaking with a 9.1 per cent year-over-year spike in prices in June 2022.

Banking & finance

Trump’s pick for Fed chair says he’ll stay independent. Does he mean it?

Kevin Warsh said at a confirmation hearing he would not become the US president’s ‘human sock puppet’, but concerns over interference persist.

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Illustration: Henry Wong
Banking & finance

Macroscope | Australia’s interest rate rise signals growing hawkish stance in Asia

Reserve Bank of Australia is less an outlier than a harbinger of global monetary trends in the wake of war-induced supply shocks.

A pedestrian walks past a petrol station with fuel prices on display in Williamstown, Australia, on March 26. Photo: AFP
Yuan

China sets yuan at strongest level in 3 years as US dollar jitters simmer

Beijing is pushing for a stronger yuan to help globalise the currency, but the upswing could create issues for the country’s export giants.

Central banks

Gold loses its shimmer in Asia over rising oil prices, hawkish Fed stance

Demand for the metal is likely to remain weak, with central banks not expected to cut interest rates for some time due to high energy prices.

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United States

US economy grows 2% in January–March; Iran war clouds outlook

The economy also recovered from last autumn’s 43-day federal shutdown.

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A shopper with a shopping trolley in Centennial, Colorado in the US. Photo: AP
Interest rates

HKMA warns of interest-rate uncertainty as Fed’s trajectory remains unclear

HSBC, Standard Chartered and Bank of China (Hong Kong) keep their prime and savings rates unchanged.

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The Hong Kong Monetary Authority maintained the city’s base rate at 4 per cent on Thursday. Photo: Jonathan Wong
United States

Powell says he’ll stay at Fed as governor, defying Trump

Outgoing chair triggers fresh clash with the White House by exercising his right to remain on the Fed board.

United States

US drops criminal probe of Fed chair Powell, likely clearing way for Warsh

Judge James Boasberg, said prosecutors had produced ‘essentially zero evidence’ to suspect Powell of a crime.

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Banking & finance

America First Fed? Trump pick Warsh signals ‘monetary sovereignty’: analysts

Potential successor to Jerome Powell may pursue policies that pressure US dollar-driven assets and curb global liquidity, analysts say.

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Kevin Warsh, nominee for US Federal Reserve chair, testifies on Tuesday during a Senate Banking Committee hearing in Washington. Photo: TNS
United States

Trump’s pick for Fed chief, calls for ‘regime change’ at US central bank

The remarks were made at a contentious confirmation hearing, which took place amid a criminal probe of current chair Jerome Powell.

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Hong Kong property

Hong Kong homebuyers extend sell-out streak amid renewed confidence in market

Sentiment is likely to stay firm, agents say, citing steady demand across new launches and a rebound that lifted prices to a 22-month high.

United States

Trump threatens to fire Fed chair Powell if he doesn’t step down ‘in time’

Powell’s stint as the leader of the central bank expires in May, but his term on Board of Governors does not end until 2028.

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A combination of pictures shows US Federal Reserve Board Chairman Jerome Powell (left) and President Donald Trump. Photo: AFP
Artificial intelligence

China banks buffer against AI contagions as US sweats over Anthropic’s Mythos

With Beijing prioritising financial stability, analysts say state lenders take a measured approach to generative models amid growing global cybersecurity risks.

With the United States warning banks about potential risks from Anthropic’s latest artificial intelligence model, analysts note how China is monitoring for any potential contagion risks. Photo: Reuters
Banking & finance

As France pulls gold from the US, how can China become the next global gold hub?

Federal Reserve is no longer seen as a ‘safe’ place for nations to store gold as Trump’s unpredictability spooks the world’s central banks.

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Hong Kong property

Hong Kong developers test homebuyers with price increases after sell-outs

‘This is a classic recovery-phase strategy: testing price elasticity without undermining the building momentum,’ an analyst says.

Commodities

Gold may reverse course once Iran war ends, Fed adopts policy easing

Gold has been on a wild ride this year, surging as much as 25 per cent before the war in Iran wiped out almost all the gains.

Customers look at gold jewelry at a store in Hangzhou, Zhejiang province, China on March 23, 2026. Photo: CFOTO/Future Publishing via Getty Images
Central banks

Macroscope | Asian central banks largely powerless in face of Iran war energy shock

Central banks cannot pump oil into the global economy in the same way they can flood the financial system with liquidity.

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Workers change the price of fuel at a petrol station in Manila on March 17. Photo: AFP
Hong Kong property

La Mirabelle sells in hours as developers ramp up sales, buyers fret over rates

All 254 Tseung Kwan O flats snapped up as developers step up supply and demand stays firm.

Hong Kong property

Hong Kong developers test market with 222 units released amid rate uncertainty

So far this year, 5,500 new residential units have been sold in Hong Kong, a 25 per cent increase compared to the same period last year.

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