American financier and former Federal Reserve governor (born 1970)
Nvidia has reported second-quarter revenue of $96.2bn and has forecast about 70% revenue growth for fiscal 2028, far above analyst expectations. The company has won large cloud orders, including an expanded deal with Amazon Web Services, and has moved to finance and build AI data‑centre capacity while rivals design custom chips.
The Treasury has expanded its bond-buyback program to support longer-dated debt, but yields on the 10-year and 30-year Treasuries have remained elevated as debt levels and deficits draw scrutiny. Investors are weighing the impact on mortgages, AI infrastructure funding, and policy uncertainty across multiple outlets.
U.S. stock futures point to gains as Nvidia beats estimates and forecasts strong AI-driven growth; European markets rally on momentum from Nvidia while UK indices turn modestly higher ahead of major earnings and data surprises.
Shein is set to debut in Hong Kong with an expected price range of HK$47.60–HK$49.50 per share, valuing the company at about $27bn. The IPO follows years of regulatory scrutiny and previous failed listings in New York and London. Cornerstone investors and major firms are backing the float, while the company aims to fund technology and global expansion.
The government has released June employment data showing payrolls rising by 57,000, far below forecasts, while the unemployment rate edges down to 4.2%. The labor force participation rate has fallen, highlighting a shift in the job market as fewer people are seeking work. Revisions to May and April data point to a softer hiring pace than previously thought.
Bank of America data show US host cities are seeing on-the-ground economic impact from the World Cup, with restaurants and bars leading spending gains and hotel revenues rising in several markets, though results vary by city and broader inflation weighs on sentiment.
Alphabet and peers are expanding AI data-center investments, driving up memory-chip prices and electricity costs while free cash flow turns negative for the quarter. Revenue remains strong as AI demand grows, but capital expenditure is set to rise into 2027.
Oil prices have risen this week after U.S. officials narrowed a waiver to the Jones Act for energy shipments and data showed U.S. crude stocks have fallen to multi-decade lows. Traders are parsing mixed statements from Washington and Tehran about talks to reopen the Strait of Hormuz while reparations demands have emerged, keeping markets volatile on 11 Aug 2026.
Renewed US–Iran strikes and a US naval blockade have pushed oil above $90 a barrel and cut tanker traffic through the Strait of Hormuz. Shipping, insurance and refining costs have surged faster than crude, lifting diesel and jet-fuel premiums and pushing US pump prices toward $4 a gallon; analysts warn sustained disruption will force further price rises.
The latest from multiple outlets shows ongoing US strikes on Iran continue, with Tehran signaling readiness to expand its regional actions. Israel remains on the sidelines for now, while diplomacy and economic pressure shape the broader confrontation.
The Federal Reserve has kept its target range at 3.5%-3.75%, with three regional presidents dissenting in favor of a quarter-point rate increase. Chair Warsh has emphasised inflation as a priority while signalling uncertainty about future moves. Markets have priced in possible action later this year as data rolls in.
The Federal Reserve has held rates steady under chair Kevin Warsh while signaling inflation remains above target. Markets are pricing in a potential rate hike later this year as dissents and communications style shape expectations.
The Federal Reserve has held its policy rate, with investors pushing yields higher amid concerns about inflation. Markets are signaling a harder path ahead, with oil prices rising and equities correcting after recent swings.
The White House has convened a meeting with AI leaders to review a proposed cybersecurity framework for advanced models, following OpenAI's recent agent hacks and calls for greater government access. Attendees include executives from Hugging Face, Anthropic, and others; Meta and Alphabet may participate. Markets show mixed responses as investors watch the policy discussion unfold.
The latest U.S. inflation readings show persistence above the Fed’s 2% target while growth softens in Q2. Consumer spending remains resilient, but higher borrowing costs and energy prices complicate the outlook as policymakers weigh future moves.
The Bank of England has kept Bank Rate at 3.75% in a split MPC vote as rising energy prices linked to Middle East tensions threaten inflation. Six members vote to hold, three call for a hike to 4%. Inflation is expected to rise later this year before easing toward the target.
A coordinated U.S.-Japan intervention in late July has only temporarily strengthened the yen. The currency has given back roughly half the gains from the operation and is trading near ¥159–¥160 to the dollar as of mid-August. Analysts say the yield gap between U.S. and Japanese debt and Japan's domestic policy mix are keeping downward pressure on the yen.
Manufacturing and construction have shifted from drag to engine in the U.S. economy, with AI-driven data-center buildouts underpinning job gains in manufacturing and nonresidential construction as housing remains weak.
Fed dissenters argue inflation remains too high and supply shocks persist; they advocate a series of small rate increases to curb inflation, while the majority holds rates steady. The coming months will test whether this hawkish push gains traction.
Warsh has moved to reduce forward guidance and may cut meetings, aiming to give the Fed more flexibility as markets react to his new approach while inflation remains above target.
The Federal Reserve has kept the benchmark rate steady in a nine-to-three vote, amid persistent inflation above the 2% goal. Dissenters argue for earlier tightening, while others urge patience; investors await July inflation data to gauge the path for policy.
Wall Street and large investors have committed hundreds of billions to finance AI build-outs while equity indexes have hit record highs and volatility measures sit near year-to-date lows. That borrowing has pushed corporate credit costs higher and left highly leveraged players exposed: Situational Awareness has suffered a 67% one-month loss and sold much of its public book to Citadel.
The president has repeatedly stressed independence as he engages with Federal Reserve Chair Warsh, marking a shift from the Powell era. Officials say Warsh is steering decision-making with the president’s confidence, while questions about Fed independence persist.
The White House has told Federal Reserve Governor Adriana Cook that the president is "considering" removing her and has given her until Aug. 26 to answer mortgage-fraud allegations. The letter, signed by Dan Scavino and dated Aug. 5, revives claims first raised in 2025 after the Supreme Court this year blocked an earlier firing attempt.
Global gold-backed ETFs have drawn $3 billion in July, ending two months of outflows as Western investment demand shows tentative signs of recovery. Europe led inflows, North America posted modest gains, and Asian funds boosted holdings, while prices rebound from earlier lows but remain below January highs.
Inflation has remained stubbornly high as energy prices stay elevated following the Iran conflict. Across the U.S. and UK alike, prices have moved little since last month, with energy and food costs continuing to weigh on households. Analysts say ongoing volatility will keep consumer costs under pressure in the near term.
The latest data show inflation cooling in July while wholesale prices slow and gas costs retreat, signaling a possible continuation of easing consumer prices. Yet analysts warn wage growth and volatile energy prices could rekindle pressure in coming months.
U.S. markets edge lower after several sessions of gains as investors await the PCE inflation update. The latest data show persistent inflation and higher government borrowing costs, with bond yields climbing and stock indices uneven.
Bitcoin has climbed this week as the Treasury Department doubles long-dated debt buybacks, easing yields and attracting buyers across crypto and risk assets. Trump pushes a crypto bill while inflation and debt concerns loom; analysts see potential for further gains but warn of a reversal if hawkish signals prevail.
The Jackson Hole symposium is under the spotlight as central bankers weigh inflation, policy communication, and a new approach under Fed chair Kevin Warsh, with markets reacting to shifting signals amid global economic tensions.
Bitcoin has rallied further amid a spike in risk appetite after the Treasury Department doubled long-dated bond buybacks, fueling demand for risk assets. Traders are weighing whether the move is sustainable as a major rally continues into the week.
The US Treasury has announced the government has doubled long-dated bond purchases, aiming to push yields lower as inflation fears persist. Analysts warn intervention could be inflationary and risk public trust, while gold prices rise as the dollar weakens. The debate intensifies over the government’s ability to finance debt and the long-term impact on liquidity.
Druckenmiller has used AI to craft his Wall Street Journal op-ed criticizing Scott Bessent’s bond-buyback strategy. Publications defend or fault the move as AI-generated text prompts questions about authorship, credibility, and the role of AI in journalism.
Federal Reserve chair Kevin Warsh has used his Jackson Hole speech to reaffirm the Fed's 2% inflation target, reject forward guidance and lay out a data-driven policy framework. Markets have reacted with higher short-term yields and mixed signals about whether the Fed will raise rates at the September meeting.