Charles Plosser, the former president of the Federal Reserve Bank of Philadelphia, has passed away at the age of 76. Known for his firm stance against the Fed’s easy-money policies following the 2008 crisis, Plosser leaves behind a legacy defined by his dedication to principled monetary oversight.
June’s robust jobs report has effectively dashed hopes for a Federal Reserve rate cut this summer, with strong employment data diminishing the odds for monetary easing.
Former President Donald Trump has unleashed a scathing attack on Federal Reserve Chairman Jerome Powell, calling him “very dumb” and “hardheaded.” In his tirade, Trump is urging the Federal Reserve to implement a substantial three-point reduction in its benchmark interest rate.
A recent survey reveals that most economists expect the Bank of Japan to maintain its current interest rates through the end of 2025 amid uncertainties over US tariff policies. Concerns about Japan’s economic outlook and public finances are delaying anticipated rate hikes and influencing monetary policy decisions.
The European Central Bank is approaching the end of its rate easing cycle, according to Peter Kazimir, Governor of the National Bank of Slovakia and ECB Governing Council member.
