Initial Q2 GDP figures are anticipated to show a 2.4% growth rebound, though household demand and business investment remain tepid. The July jobs report may reveal the lowest job gains in eight months and increased unemployment to 4.2%. 

Powell under pressure as GDP, jobs data and politics collide at Fed meet

If Trump proceeds, it could lead to a significant legal battle, testing the limits of presidential power and the independence of the Fed. Historically, no president has dismissed a Fed chair, highlighting how unprecedented Trump actions would be. 

Trump vs Powell: Can the US president fire the Fed chair?

Amid election-year economic manoeuvring, US President Trump slams Fed Chair Jerome Powell, calls for his resignation, and vows to nominate a rate-cut-friendly successor, deepening concerns over political interference in central bank independence.

Trump demands 1% interest rate, says he’d ‘love’ for Powell to resign

Gold prices have risen after softer-than-expected US Producer prices data boost hopes for US Rate cuts this year. Persistent geopolitical concerns in west Asia and the rush among central banks to buy gold have added to the metal's shine.

Gold prices rise after softer US Producer prices data, boost hopes for US Rate cuts

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Powell under pressure as GDP, jobs data and politics collide at Fed meet

Trump vs Powell: Can the US president fire the Fed chair?

Trump demands 1% interest rate, says he’d ‘love’ for Powell to resign

Gold prices rise after softer US Producer prices data, boost hopes for US Rate cuts