April 7, 2025
United States:
Powell Says Fed in No Hurry to Cut as Markets Continue to Swoon
Federal Reserve Chair Jerome Powell made clear the US central bank won’t rush to react to sweeping Trump administration tariffs, or to the financial market turmoil that has ensued amid fears of a global economic downturn.
Tariffs are likely to have a significant effect on the US economy, including slower growth and higher inflation, Powell said Friday at a conference in Virginia. But, he added, Fed officials will wait to gain more clarity on those policies before lowering interest rates.
Europe:
German Industrial Production Fell More Than Expected in February
German industrial production dropped more than expected in February, underscoring the challenges for the country’s key sector already ahead of new headwinds from US President Donald Trump’s aggressive trade policy.
Output decreased 1.3% from the previous month — worse than the 1% decline predicted in a Bloomberg survey of economists.
Asia:
Xi Vows to ‘Fully Unleash’ Consumption in Face of Trump Tariffs
Chinese President Xi Jinping has called for strengthened efforts to “fully unleash” the country’s consumption potential to spur growth amid a tariff war with the US.
The Chinese leader said revitalizing consumption, expanding domestic demand and enhancing investment efficiency are on top of the country’s agenda, state-run broadcaster China Central Television reported on Monday, without specifying when and where he made those comments.
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