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U.S. Federal Reserve Chair Jerome Powell has sent strong messages when he felt they were needed, going on television to pledge maximum support for the economy when the COVID-19 pandemic struck, using a terse 2022 speech for a stern message about inflation, and jumping in to backstop financial markets after the 2023 failure of Silicon Valley Bank. But with Powell and the Fed left guessing just as much as the rest of the world about where President Donald Trump is taking the economy, the Fed chair indicated on Friday this is not the moment for a "Fed put" - Wall Street's term for actions to shore up free-falling stock markets - even as household wealth evaporates with real risks to economic activity. "There's a lot of waiting and seeing going on, including by us, and that just seems like the right thing to do at a time of elevated uncertainty," Powell said, making it apparent the Fed won't be rushing to cut interest rates as it would if there was a crisis calling for an obvious central bank response.

(Bloomberg) -- Goldman Sachs Group Inc. economists raised their recession probability assessment and brought forward the forecast timing of the next US Federal Reserve interest-rate cut following the Trump administration’s tariff announcement.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the Worl

Saudi Arabia, the world's top oil exporter, on Sunday slashed its prices for Asian buyers to close to their lowest level in four years, adding to speculation it is seeking to regain market share as part of OPEC+'s strategy to speed up oil output hikes. State oil company Saudi Aramco cut the May official selling price (OSP) for flagship Arab Light crude by $2.30 to $1.20 a barrel above the average of Oman and Dubai prices, a pricing document from the producer showed. The drop marks the biggest decline in more than two years and is the second consecutive month Aramco has lowered its prices, Reuters' record of Saudi OSPs showed.

(Bloomberg) -- Main equity benchmarks in Middle East countries including Saudi Arabia sank the most since 2020 on Sunday as investors reacted to the risks of a fresh global trade war and depressed oil prices.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsWhat Would ‘Transportation A

Economists at Citi Research said in a note on Thursday that the aggressive tariffs "may now become a justification for larger tax cuts."

(Bloomberg) -- The plunge in oil prices over the past two days following the twin shocks of President Donald Trump’s tariffs and the surprise boost in production from OPEC+ has altered the global energy landscape with stunning speed.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideLocal Governments Vie for Fired Federal WorkersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpMetro-North Is Faster

Inflation is likely to pick up because of President Donald Trump’s sweeping tariffs, and could remain elevated, Federal Reserve Chair Jerome Powell said Friday.