Kate Duguid

Figure leads investors to scale back bets on interest rate cuts and helps push Wall Street stocks to record high

Donald Trump’s criticism of central bank chair has fuelled expectations of a dovish shift once he leaves in May next year

Renewed attack on Federal Reserve comes after official data shows weakening employment growth

Wall Street titans increasingly voicing concerns over mounting debt due to government spending

JPMorgan Chase chief calls on Trump administration to set country on better fiscal path

Legislation would erode the appeal of US financial assets, warn banks and investors

Economists caution that much of the impact of Trump’s levies is yet to be felt

Market Questions is the FT’s guide to the week ahead

Big investors warn of risks to world’s largest and most liquid bond market from US president’s attacks on central bank

Big investors warn of risks to world’s largest and most liquid bond market from US president’s attacks on central bank

US central bank prepared to act with ‘various tools’, Susan Collins says

Drop comes as Fed grapples with how to respond to Donald Trump’s tariff U-turns

Donald Trump’s trade war has put the Federal Reserve in an awkward spot

Appreciation of other major currencies such as Japanese yen has put downward pressure on the greenback

Futures traders boosted expectations in the past week of a bigger trim than the traditional 0.25 percentage point change

More than $66bn has poured into fixed-income funds since start of July

Analysts warn that devaluing the currency would be shortlived

Federal Reserve officials thought that US inflation was cooling but still needed “greater confidence” before they agreed to cut interest rates from their 23-year high, according to minutes of their most recent meeting. “Participants suggested that a number of developments in the product and labour market supported their judgment that price pressures were diminishing,” said the minutes from the June meeting, published on Wednesday. Some rate-setters also noted that retailers were now offering p…

The US will be forced to fund a massive increase in its budget deficit with short-term debt, analysts have said, with consequences for money markets and the battle against inflation. The Congressional Budget Office, the independent fiscal watchdog, this week said aid packages for Ukraine and Israel would help push up the US deficit this fiscal year to $1.9tn — compared with its February prediction of $1.5tn. “We are spending money as a country like a drunken sailor on shore for the weekend,” s…

US inflation fell to 3.3 per cent in May, raising expectations of early interest rate cuts and delivering a boost to the stock market and President Joe Biden. The data, issued on Wednesday hours before Federal Reserve officials outlined their plans for rate cuts this year, was marginally below economists’ expectations. The S&P 500 gained 0.9 per cent to close at a record high. Trading in the afternoon was choppy following Fed chair Jay Powell’s press conference, where he discussed the policyma…