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The Advertiser
6 days ago
- Business
- The Advertiser
Wall Street rises after US-Japan trade deal announced
Wall Street has climbed after US President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms. The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent. In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high. Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks. As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement. However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods. "The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs. Tesla and Alphabet are set to report after the bell on Wednesday. With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment. In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit. Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent. Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast. A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory. The company's stock dropped despite beating quarterly profit estimates. In US economic data, existing home sales numbers for June are due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool. The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates. Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq. The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows. Wall Street has climbed after US President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms. The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent. In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high. Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks. As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement. However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods. "The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs. Tesla and Alphabet are set to report after the bell on Wednesday. With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment. In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit. Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent. Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast. A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory. The company's stock dropped despite beating quarterly profit estimates. In US economic data, existing home sales numbers for June are due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool. The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates. Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq. The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows. Wall Street has climbed after US President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms. The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent. In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high. Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks. As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement. However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods. "The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs. Tesla and Alphabet are set to report after the bell on Wednesday. With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment. In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit. Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent. Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast. A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory. The company's stock dropped despite beating quarterly profit estimates. In US economic data, existing home sales numbers for June are due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool. The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates. Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq. The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows. Wall Street has climbed after US President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms. The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent. In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high. Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks. As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement. However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods. "The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs. Tesla and Alphabet are set to report after the bell on Wednesday. With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment. In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit. Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent. Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast. A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory. The company's stock dropped despite beating quarterly profit estimates. In US economic data, existing home sales numbers for June are due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool. The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates. Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq. The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows.
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Business Standard
6 days ago
- Business
- Business Standard
Wall Street rises on US-Japan trade deal, hopes for more tariff talks
Wall Street climbed on Wednesday after President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms. The pact will slash tariffs on the Japanese auto sector to 15per cent from 27.5per cent, with duties on other goods also dropping to 15per cent from 25per cent. At 9:41 a.m. ET, the S&P 500 gained 20.11 points, or 0.31per cent, to 6,329.73 and the Nasdaq Composite gained 39.71 points, or 0.19per cent, to 20,932.40. The Dow Jones Industrial Average rose 215.38 points, or 0.48per cent, to 44,717.82, closing in on its all-time high. Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks. As US and EU officials head into crucial trade talks, hopes are high for a breakthrough agreement. However, the European Commission signaled it's ready to play hardball , preparing to seek approval for 93 billion euros ($109 billion) in counter-tariffs on American goods. "The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Investors are now laser-focused on earnings from the "Magnificent Seven" â€' the market's star performers who have powered stocks to record highs. Tesla and Alphabet are set to report after the bell on Wednesday. With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment. In earnings-focused moves, GE Vernova's shares climbed 13.7per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit. Texas Instruments tumbled 12.7per cent after its quarterly profit forecast failed to impress investors, as it pointed to weaker-than-expected demand for its analog chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analog chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5per cent and 5.6per cent. Toymaker Hasbro slipped 2.4per cent even after raising its annual revenue forecast. A 1.7per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory. The company's stock dropped despite beating quarterly profit estimates. In economic data, existing home sales numbers for June are due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 58per cent, according to the CME FedWatch tool. The Fed's July meeting will follow on the heels of mounting concerns about its independence amid political interference and President Trump's persistent attacks on Chair Jerome Powell for his reluctance to cut rates. Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq. The S&P 500 posted 30 new 52-week highs and two new low, while the Nasdaq Composite recorded 48 new highs and eight new lows.
Business Recorder
6 days ago
- Business
- Business Recorder
Wall Street rises on US-Japan trade deal, hopes for more tariff talks
Wall Street climbed on Wednesday after President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms. The pact will slash tariffs on the Japanese auto sector to 15% from 27.5%, with duties on other goods also dropping to 15% from 25%. At 9:41 a.m. ET, the S&P 500 gained 20.11 points, or 0.31%, to 6,329.73 and the Nasdaq Composite gained 39.71 points, or 0.19%, to 20,932.40. The Dow Jones Industrial Average rose 215.38 points, or 0.48%, to 44,717.82, closing in on its all-time high. Meanwhile, Wall Street's 'fear gauge,' the CBOE Volatility Index, dipped to its lowest level in nearly two weeks. As U.S. and EU officials head into crucial trade talks, hopes are high for a breakthrough agreement. However, the European Commission signaled it's ready to play hardball, preparing to seek approval for 93 billion euros ($109 billion) in counter-tariffs on American goods. 'The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign,' said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Investors are now laser-focused on earnings from the 'Magnificent Seven' — the market's star performers who have powered stocks to record highs. Tesla and Alphabet are set to report after the bell on Wednesday. With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment. Wall Street mixed as markets balance trade talks against tariffs' impact on results In earnings-focused moves, GE Vernova's shares climbed 13.7% to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit. Texas Instruments tumbled 12.7% after its quarterly profit forecast failed to impress investors, as it pointed to weaker-than-expected demand for its analog chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analog chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5% and 5.6%. Toymaker Hasbro slipped 2.4% even after raising its annual revenue forecast. A 1.7% drop in AT&T kept the communications sector in the red, with all other sectors in positive territory. The company's stock dropped despite beating quarterly profit estimates. In economic data, existing home sales numbers for June are due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 58%, according to the CME FedWatch tool. The Fed's July meeting will follow on the heels of mounting concerns about its independence amid political interference and President Trump's persistent attacks on Chair Jerome Powell for his reluctance to cut rates. Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq. The S&P 500 posted 30 new 52-week highs and two new low, while the Nasdaq Composite recorded 48 new highs and eight new lows.
Perth Now
6 days ago
- Business
- Perth Now
Wall Street rises after US-Japan trade deal announced
Wall Street has climbed after US President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms. The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent. In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high. Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks. As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement. However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods. "The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs. Tesla and Alphabet are set to report after the bell on Wednesday. With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment. In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit. Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent. Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast. A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory. The company's stock dropped despite beating quarterly profit estimates. In US economic data, existing home sales numbers for June are due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool. The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates. Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq. The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows.
Reuters
6 days ago
- Business
- Reuters
Wall Street poised for higher open as US-Japan trade deal lifts sentiment
July 23 (Reuters) - Wall Street was poised for a stronger start on Wednesday after President Donald Trump struck a trade deal with Japan, shoring up expectations of further agreements ahead of the fast-approaching August 1 deadline. The pact will slash tariffs on the Japanese auto sector to 15% from 27.5%, with duties on other goods also dropping to 15% from 25%. At 8:24 a.m. ET, S&P 500 E-minis were up 22.5 points, or 0.35%, Nasdaq 100 E-minis were up 17.75 points, or 0.08%, and Dow E-minis were up 233 points, or 0.52%. Futures tracking the domestically focused Russell 2000 small-cap index (.RUT), opens new tab rose 0.9%. Representatives from Washington and the European Union were headed into negotiations, hoping to secure a breakthrough deal. At the same time, the European Commission declared plans to submit counter-tariffs on 93 billion euros ($109 billion) of U.S. goods for approval to EU members. "The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Meanwhile, the S&P 500 notched its eighth record close in a month on Tuesday, buoyed by easing trade tensions, a resilient U.S. economy, and upbeat second-quarter earnings. The Dow climbed 0.4%, now within striking distance of its all-time high, while the Nasdaq slipped as declines in Meta and Microsoft weighed on the tech-heavy index. Investors are now laser-focused on earnings from the "Magnificent Seven" — the market's star performers who have powered stocks to record highs. Tesla (TSLA.O), opens new tab and Alphabet (GOOGL.O), opens new tab are set to report after the bell on Wednesday. With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment. Both the stocks eased about 0.3% premarket. In earnings-focused moves, Texas Instruments (TXN.O), opens new tab tumbled 9.9% after its quarterly profit forecast failed to impress investors, as it pointed to weaker-than-expected demand for its analog chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analog chipmakers, with NXP Semiconductors (NXPI.O), opens new tab, Analog Devices (ADI.O), opens new tab and ON Semiconductor (ON.O), opens new tab falling between 3.1% and 5.4%. Automaker General Motors (GM.N), opens new tab also became a casualty of the trade war on Tuesday when it said Trump's tariffs took a $1.1 billion hit on its quarterly earnings, sending its shares down more than 8%. Toymaker Hasbro (HAS.O), opens new tab rose 0.5% after raising its annual revenue forecast, while AT&T (T.N), opens new tab slipped 3.4% despite beating quarterly profit estimates. In economic data, existing home sales numbers for June are due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 56%, according to the CME FedWatch tool. The Fed's July meeting will follow on the heels of mounting concerns about its independence amid political interference and President Trump's persistent attacks on Chair Jerome Powell for his reluctance to cut rates.
