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US Federal Reserve

US Federal Reserve
Founded in 1913, the Federal Reserve is the central banking system for the United States.
A television displays Kevin Warsh, chairman of the US Federal Reserve, speaking at a press conference as traders work on the floor of the New York Stock Exchange on June 17. Warsh spoke about the Federal Reserve decision to keep interest rates unchanged for the fourth time this year. Photo: AFP
Interest rates

Macroscope | Silence isn’t golden for a world looking to Kevin Warsh’s Fed

While forward guidance often proved counterproductive, it is the US central bank’s job to inform markets about the outlook for monetary policy, not the other way round.

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US-China relations

Ex-US Fed adviser gets 3 years in prison in China secrets case

Banking & finance

China increases holdings of US Treasuries despite diversification trend

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United States

US inflation cools on brief ceasefire but Fed keeps rate hike option

New Fed Chair Kevin Warsh tells lawmakers the US central bank has ‘no tolerance for persistently elevated inflation’.

Federal Reserve Chairman Kevin Warsh testifies before the House Financial Services Committee on Tuesday. Photo: AFP
Global monetary policy

Amid rising dollar risks, Plaza Accord-style unity not feasible: ex-IMF adviser

Economic historian Barry Eichengreen says if current policy paths persist, modern rifts could bring about a confidence crisis in the US currency.

Hong Kong property

‘Good time to enter market’: rebates rise as Hong Kong property demand recovers

Mortgage battle intensifies as lenders raise cash rebates to lure buyers amid Fed rate uncertainty.

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Hong Kong stock market

China’s appeal as portfolio diversifier grows: BlackRock strategist

‘China can provide exposure to different economic drivers,’ says Li Wei, the asset manager’s global chief investment strategist.

People walk on a street beneath a screen showing stock market and economic data in Shanghai on June 15. Photo: EPA
China deflation

China’s central bank vows flexibility amid uneven economic picture

PBOC pledges ‘moderately loose’ monetary policy given a ‘more complex and volatile’ environment and domestic ‘structural divergence’.

Japan

As Japanese yen sinks to a 40-year low, focus turns to the carry trade

Analysts ponder what will happen if the conditions which currently support the currency’s carry trade begin to reverse.

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Hong Kong property

When will Hong Kong’s retail leasing market see a turnaround?

Analysts say that geopolitical tensions, Beijing’s measures against capital flight and potential rate hikes are adding to uncertainties.

A vacant retail space in Causeway Bay on July 2. Photo: Sam Tsang
Banking & finance

China extends gold-buying binge to 20th month in Beijing’s de-dollarisation push

PBOC’s bullion holdings keep rising as forex reserves dip in June to US$3.42 trillion and the central bank seeks security from sanctions and US market volatility.

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The People’s Bank of China said gold holdings rose to 75.44 million troy ounces (2,346 tonnes) at the end of June. Photo: dpa
International Property

Berkshire Hathaway’s multibillion-dollar Taylor Morrison buy to boost confidence

While Chinese investors are turning away from America, the conglomerate’s US$6.8 billion cash acquisition could encourage more home sales.

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United States

US Supreme Court boosts Trump’s power to fire officials, but Fed’s Cook keeps job

Justices let Trump fire agency heads, a dramatic expansion of his presidential power.

United States

Editorial | Alan Greenspan’s passing marks the end of an era

Tragically, the long-serving Fed chair’s stance against stricter supervision of the US financial and banking systems came back to haunt him.

Former US Federal Reserve chair Alan Greenspan speaks at a Brookings Institution forum in Washington in 2015. Photo: Reuters
Hong Kong property

Hong Kong property sales more measured as interest rate increase looms

Hong Kong Monetary Authority warns public to beware of interest rate uncertainties.

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An artist’s impression of One Victoria Cove in Hung Hom. Photo: Handout
Banking & finance

China trims US Treasury holdings to 18-year low

Overall foreign holdings of US Treasuries climbed to US$9.353 trillion in April.

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US-China relations

‘A new chapter’: how Warsh’s US Fed debut is being viewed in China

A clearer focus on inflation and institutional changes could mark a watershed moment for the central bank, analysts say.

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United States

US Fed begins Warsh era with hold on interest rates, may hike later this year

The Trump appointee is taking over amid repeated demands by the US president for rate cuts even as inflation becomes a growing concern.

US Federal Reserve Board Chairman Kevin Warsh speaks during a news conference in Washington on Wednesday. Photo: EPA
United States

Macroscope | Investors expecting a US interest rate rise could be in for a surprise

Rising bond yields are doing some of the Fed’s work, as are investor fears over the US central bank’s independence under Kevin Warsh.

Hong Kong stock market

Alibaba and WuXi AppTec decline in Hong Kong after addition to US blacklist

Designation of Chinese firms fuels investor unease, with markets bracing for a potential Fed tightening and an unwinding of the AI trade.

China consumption

Gold slump: China’s sales plunge as precious metal’s price dips

While China’s interest in gold is unlikely to fade, investment-grade product sales have dwindled after 15 months of retail growth.

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Gold sales have slumped in China as the global spot price drops amid consumer caution and an unstable economic outlook. Photo: Getty Images
Banking & finance

China among top buyers as gold overtakes US Treasuries in global reserves: ECB

Higher prices and global shocks have fuelled demand for gold, as central banks hedge against uncertainty.

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Gold buying reached historic highs in 2025, driven by geopolitical risks and higher valuations. Photo: dpa
United States

Powell uses JFK award speech to defend Fed from political pressure

Former Fed chair urges protection of America’s democratic institutions, warns they face a ‘stress test’.

Hong Kong economy

Open Questions | Hong Kong must embrace ‘bipolar’ role to thrive in its ‘Stage 3.0’: Charles Li

Veteran deal maker urges an IPO link to lure global resource giants and turn Chinese buyers into owners as city solidifies role as East-West bridge and global capital hub.

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Gold in Hong Kong

World Gold Council says diversification driving China’s growing reserves

China’s gold reserves have grown for 18 straight months, country’s central bank says.

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Gold bars and coins a precious metals dealership in Munich Germany. Photo: DPA
Yuan

For a yuan in deeper markets, Fed ex-head cites dollar playbook, flags risks

Meanwhile, surging costs are ‘likely to hit US inflation data a bit harder and perhaps longer’ than expected, according to the former central bank official.

US dollar and Chinese yuan notes are seen with national flags in the backdrop. Photo: Reuters
United States

US key inflation gauge worsens, eroding Americans’ income, spending power

Inflation of 3.8 per cent in April was the highest since May 2023 amid high petrol prices and food costs.

US, Israel war on Iran

Gold continues decline as inflation fears outweigh hope of end to Iran war

The metal is down nearly 20 per cent from its all-time high in January as investors focus on the Federal Reserve’s plans to combat inflation.

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