Donald Trump’s aides have drawn up secret plans to oust the chairman of the Federal Reserve and allow the president to set interest rates, according to reports.
U.S. economic growth likely slowed to a still-solid pace in the first quarter while inflation accelerated, reinforcing financial market expectations that the Federal Reserve would delay cutting interest rates until September. The Commerce Department's snapshot of first-quarter gross domestic product on Thursday is expected to show consumers still doing the heavy lifting for the economy, thanks to a resilient labor market. The economy has defied prophecies of doom since late 2022 following the U.S. central bank's aggressive rate hiking campaign to snuff out inflation.
Slow, but Solid US Economic Growth Anticipated in Q1; Inflation Likely Heats Up usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
London's stock markets finished with a mixed performance on Thursday, as investors digested a slower-than-expected GDP growth reading from the United States, while a slew of well-received earnings underpinned the top-flight index.