JPMorgan Chase reports mixed results as Dimon defends Fed chief
JPMorgan Chase reported lower fourth-quarter profits Tuesday as CEO Jamie Dimon endorsed Federal Reserve independence and offered an upbeat reading on the US economy. The giant US bank reported $13.0 billion in profits, down seven percent from the year-ago period following a $2.1 billion hit connected to the assumption of the Apple credit card, replacing […]
Asian markets fluctuate after Fed cuts interest rates
Equities wavered in Asia on Thursday after the Federal Reserve lowered interest rates but left investors wondering how many more cuts were in the pipeline despite boss Jerome Powell warning about the struggling jobs market. After months of speculation fuelled by a string of weak labour statistics, the US central bank said it would lower […]
Trump’s pick for US Fed governor vows to uphold independence
Donald Trump’s pick to join the Federal Reserve’s board of governors pledged Thursday to uphold US central bank independence if confirmed, as the institution faces growing political pressure from the president to slash interest rates. “The Federal Open Market Committee is an independent group with a monumental task, and I intend to preserve that independence,” […]