India's annual budget made a fresh bet on the country's manufacturing sector as Finance Minister Nirmala Sitharaman laid out priorities for Asia's third-biggest economy and pledged to accelerate growth amid a volatile global environment.
* Trump says Warsh should have no trouble winning Senate confirmation. * Republican senator vows to block confirmation pending probe of current chair. * Trump expects Warsh to lower interest rates, says he didn't seek specific commitments. By Trevor Hunnicutt.
U.S. President Donald Trump said ?he thinks Kevin Warsh, ?his pick to ?head ?the Federal Reserve, could pick up ?votes from ?some Democrats in the Senate, calling him a "high-quality ?person" who ?should ?not have any trouble winning Senate confirmation.
Bitcoin, the world's largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET on Saturday, continuing its decline from the previous session. On Friday, ?bitcoin fell to as low as $81,104, the lowest since November 21, while the U.S. dollar ?gained after former Federal Reserve Governor Kevin Warsh was selected as ?the next Fed chair.
Bitcoin, the world's largest cryptocurrency by market value, was down by 6.53% at $78,719.63 at 12:48 p.m. ET on Saturday, continuing its decline from the previous session. On Friday, bitcoin fell to as low as $81,104, ?the lowest since November 21, while the U.S. dollar gained after former Federal Reserve Governor ?Kevin Warsh was selected?as the next Fed chair.
Kevin Warsh checks a long list of boxes for President Donald Trump as his pick to run the Federal Reserve, with longstanding political and social ties to the president, deep Wall Street connections and a well-tailored demeanor, but how deeply and quickly he will cut interest rates and how aggressively he will pursue his "regime change" at the Fed remain open questions.
* * Warsh's past Fed criticism now meets practical implementation test. * Warsh's stance on Fed's balance sheet and interest rates scrutinized. By Howard Schneider.
* Official PMI drops to 49.3 from 50.1 in December. * Non-manufacturing PMI falls to 49.4 from 50.2 in December. * Sub-indexes of new orders and new export orders also decline. China's factory activity faltered in January as weak domestic demand dragged down production at the start of the new year, an official survey showed on Saturday.
Credit ratings agency Moody's revised Israel's outlook to "stable" from "negative" on Friday, saying that the ?country's exposure to geopolitical risks has materially eased from ?very high levels.
Kevin Warsh, President Donald Trump's pick to head the Federal Reserve, has earned over $1 million since 2020 as a member of the board of e-commerce company Coupang (CPNG), now at the center of trade tensions between the U.S. and South Korea. Warsh has served on the ?board of the Seattle-based company since October 2019, earning nearly $325,000 in total compensation each year since 2022.
U.S. Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday she still feels interest rates should fall, but voted to hold monetary policy steady this week only to gather more data before the next reduction in borrowing costs.
U.S. Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday she still feels interest rates should fall, but voted to hold monetary policy steady this week only to gather more data before the next reduction in borrowing costs.
Credit ratings agency ?Moody's revised Israel's ?outlook to "stable" ?from "negative" ?on ?Friday, saying that ?the ?country's exposure to ?geopolitical ?risks ?has materially eased from very ?high levels. The agency affirmed ?Israel's ?local and ?foreign currency ratings at "Baa1".
The U.S. cattle herd dwindled to its smallest size since 1951, the U.S. Department of Agriculture said on Friday, signaling that beef prices will stay high for consumers after setting records last ?year. The nation had 86.2 million cattle and calves as of January 1, the USDA said in a biannual ?report, after a persistent drought drove ranchers to slash their herds.
Federal Reserve Governor Stephen ?Miran said ?on Friday that ?U.S. ?President ?Donald Trump has never ?asked ?him to do ?anything ?on ?monetary policy. "He has never asked ?me to do any specific ?action ?on monetary policy," Miran said ?during an interview on Bloomberg TV.
* US yield curve steepens with Warsh nomination. * Balance sheet may not be primary focus for Warsh, analyst says. * US producer prices rise in December, lift yields. * US rate futures price in two full cuts in 2026. By Gertrude Chavez-Dreyfuss.
Brazilian airline Azul secured $1.37 billion in a bond issue, the company said in a securities filing ?on Friday, in a key step toward exiting Chapter 11 bankruptcy proceedings.
Latin American currencies and stocks
fell on Friday after U.S. President Donald Trump announced his
nominee for the Federal Reserve chair, while Colombia's central
bank announced a ...
St. Louis Federal Reserve President Alberto Musalem said on Friday the U.S. central bank does not need to cut interest ?rates further unless the job market starts to ?deteriorate or inflation falls. The current 3.50%-3.75% policy ?rate range is neutral, Musalem ?said in ?remarks prepared for delivery to an event at ?the University of Arkansas.
Colombia's central bank raised its benchmark interest rate by 100 basis points to 10.25% on Friday, its first hike in nearly three years and a larger move than most analysts had expected, as policymakers pointed to rising inflation ?pressures, a sharp jump in inflation expectations and mounting fiscal and external risks.
U.S. President Donald Trump on Friday said he will nominate former Federal Reserve governor Kevin Warsh to return as Fed Chair in May, as the president continues his campaign for lower U.S. interest rates. Here are five key things to know about Warsh:?. YOUNGEST-EVER FED GOVERNOR, CRISIS-TESTED.
President Donald Trump said on Friday it would be inappropriate to ask Kevin Warsh, his nominee to be the next chair of the Federal Reserve, whether he ?would cut interest rates, but added he was confident Warsh was ?inclined to lower borrowing costs.
* Indexes down: Dow 0.86%, S&P 500 0.57%, Nasdaq 0.74% * Russell 2000 down 1.6% * Apple (AAPL) shares fall after quarterly results. * Gold and silver miners fall tracking metal prices. By Pranav Kashyap and Twesha Dikshit.
President Donald Trump said ?on Friday ?it would be ?inappropriate ?to ?ask Kevin Warsh, ?his nominee ?to be the ?next ?chairman ?of the Federal Reserve, whether he ?would cut interest rates, but ?added ?he was confident Warsh was ?inclined to lower borrowing costs.
President Donald Trump's pick of Kevin Warsh to lead the Federal Reserve is running into opposition from within his own party in Congress, as at least one Republican senator said on Friday he will block the confirmation if the Justice Department's investigation of U.S. central bank chief Jerome Powell continues.
* Tillis cites probe into Powell as reason to oppose Trump's Fed nominees. * North Carolina senator says Department of Justice's investigation is political interference. * Republicans divided over Trump's pressure tactics against Fed. By Bo Erickson, Andrea Shalal and Richard Cowan.
Federal Reserve Governor Stephen Miran said in a television interview Friday that he assumes Kevin Warsh, nominated to succeed current Fed chair Jerome Powell, will likely fill his expiring term at ?the central bank.
Federal Reserve Governor Stephen Miran said in a television interview Friday that he assumes Kevin Warsh, nominated to succeed current Fed chair Jerome Powell, will ?likely fill his expiring term at the central bank.
Kevin Warsh, U.S. President Donald Trump's pick to chair the Federal Reserve, will likely boost the central bank's effort to ease Wall Street bank rules, and allow the administration a bigger say on regulation and supervision matters, said regulatory experts.
Senate Democratic leader Chuck Schumer said Republicans ?must not ?move U.S. President Donald ?Trump's pick ?to ?lead the Federal Reserve, ?Kevin ?Warsh, if Department of Justice actions ?against ?Jerome ?Powell are not dropped.
* Money markets price in a 30% chance of an ECB rate cut in 2026. * Borrowing costs little changed after euro zone economic data. * Risks of a second China shock in ECB's focus, Deutsche Bank says. By Stefano Rebaudo.
Top White House economic adviser Kevin Hassett on Friday said the Federal Reserve blundered in not cutting rates this week, in comments that also called for a swift approval of Kevin Warsh to be Fed ?Chair. Hassett, speaking on CNBC, acknowledged the legal issues that surround the Fed that could gum ?up any approval process until they are resolved.
Top White House economic adviser Kevin Hassett on Friday said the Federal Reserve blundered in not cutting rates this week, in comments that also called for a swift approval ?of Kevin Warsh to be Fed Chair. Hassett, speaking on CNBC, acknowledged the legal issues that surround ?the Fed that could gum up any approval process until they are ?resolved.
* US yield curve steepens with Warsh nomination. * Balance sheet may not be primary focus for Warsh -analyst. * US producer prices rise in December, lifts yields. * US rate futures price in two cuts in 2026. By Tom Westbrook, Amanda Cooper and Gertrude Chavez-Dreyfuss.
* TSX slumps 2.3% * Miners plunge after Kevin Warsh picked new Fed chair. * Bombardier falls 6.7% after Trump's tariff threats. By Utkarsh Hathi. Canada's main stock index tumbled over 2% on Friday, hammered by plunging mining shares, as ?gold slumped after U.S. President Donald Trump nominated Kevin Warsh - often viewed as hawkish - as the new ?Federal Reserve chair.
* Trump picks Kevin Warsh as new Fed Chair. * Global stocks fall, still set for weekly gain. * US inflation data hotter than expected. By Chuck Mikolajczak.
* Producer price index increases 0.5% in December. * Services account for bigger-than-expected rise in PPI. By Lucia Mutikani. U.S. producer prices increased by the most in five months in December amid some pass-through from import tariffs, suggesting inflation could pick up in the months ahead and allow the Federal Reserve to keep interest rates steady for a while.
* Warsh seen as likely to support lower rates, easing concerns. * Dollar gains after U.S. producer prices rise more than expected. * Bitcoin lowest since November 21. By Karen Brettell.
* Indexes down: Dow 0.2%, S&P 500 0.2%, Nasdaq 0.3% * Russell 2000 down 0.3% * Apple (AAPL) shares fall after quarterly results. * Gold and silver miners fall tracking metal prices. By Pranav Kashyap and Twesha Dikshit.
U.S. stocks opened lower on Friday after President ?Donald Trump nominated ?former Federal Reserve ?Governor Kevin Warsh ?to ?head the U.S. ?central bank, ?as traders mulled over the ?monetary ?policy ?path under the new Fed leadership.
Canada's main stock index opened sharply lower ?on Friday, ?dragged down ?by commodity-linked shares, ?as ?gold sank after ?U.S. ?President Donald Trump nominated Kevin ?Warsh ?as ?the next Federal Reserve chair and ?oil retreated on easing supply disruption concerns ?in ?Iran.
U.S. stocks opened lower on Friday after President ?Donald Trump nominated ?former Federal Reserve Governor ?Kevin Warsh ?to ?head the U.S. ?central bank, ?as traders mulled over the ?monetary policy ?path ?under the new Fed leadership.
* Futures down: Dow 0.55%, S&P 500 0.55%, Nasdaq 0.74% * Futures tracking Russell 2000 down 0.6% * Apple (AAPL) shares marginally down after quarterly results. * Gold and silver miners fall tracking metal prices. By Pranav Kashyap and Twesha Dikshit.
The incoming Dutch government plans to add a surcharge to income and corporate taxes to generate around 5 billion euros per year for increased defence spending, coalition ?parties said on Friday. To meet a target set by NATO countries last year, the government ?aims to increase defence spending to 2.8% of gross domestic product ?by 2030 and to 3.5% by 2035, compared ?with around 2% ?now.
Brazil's unemployment rate dropped to a record low ?in the three months through December, official ?data showed on Friday, despite borrowing ?costs at a near ?20-year high. * The ?jobless rate hit 5.1% in the ?October-December period, statistics agency ?IBGE said on Friday, matching expectations from economists in a ?Reuters poll.
U.S. producer prices increased by the most in five months in December amid some pass-through from import tariffs, suggesting inflation could pick up in the months ahead and allow the Federal Reserve to keep interest rates steady for a while.
U.S. producer prices increased more than expected in December, with businesses appearing to pass on higher costs from import tariffs, suggesting inflation could pick up in the months ahead. The Producer ?Price Index for final demand surged 0.5% last month after an unrevised 0.2% ?gain in November, the Labor Department's Bureau of Labor Statistics ?said on Friday.
U.S. Treasury yields rose on Friday after ?data showed producer ?prices in the ?world's largest economy ?came ?in hotter than expected ?in ?December, suggesting the Federal Reserve will ?be in ?no ?rush to cut interest rates over the ?next several months.
* Contraction in goods-producing sectors behind flat growth. * Manufacturing output shrank by 1.3%, followed by agriculture. * Services-producing sectors helped offset some of the weakness. * Q4 GDP could shrink by 0.5% annualized, 2025 GDP seen at 1.3% By Promit Mukherjee.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Log In Required
Publication Date