Trump rules out firing Fed Chair Powell and hints at lowering China tariffs, easing investor concerns.

In Short

President Trump confirmed he won’t fire Federal Reserve Chairman Jerome Powell and is considering lowering tariffs on China to soothe market concerns.

He stated that while current tariffs are too high, attempts to remove Powell could disrupt markets and lead to legal issues.

President Trump stated he has no intention of firing Federal Reserve Chairman Jerome Powell. He also mentioned potential reductions in tariffs on China, which calmed investor fears after recent aggressive actions from the administration.

Following Trump’s comments, U.S. stock futures and the dollar saw gains, while gold futures retreated from their record highs. His reassurances came after earlier criticisms of Powell, where Trump expressed discontent on social media, indicating Powell’s termination should happen quickly.

Lower rates

Despite rising tensions, Trump downplayed recent comments from Kevin Hassett, suggesting an examination of Powell’s job security. Trump also remarked that it is an ideal time to consider lower interest rates, but clarified that firing Powell would not be the solution.

Concerns within the administration focused on how such an attempt could disrupt markets and result in a legal challenge. Treasury Secretary Scott Bessent voiced these apprehensions, warning of possible consequences for market stability.

Trump elaborated that current tariffs on China, at 145%, are excessive and would be lowered, though not completely eliminated. Attempts to remove Powell might lead to legal complications, as Federal Reserve governors can typically only be dismissed for cause.

Ultimately, undermining the Fed’s independence could increase borrowing costs for many, leading to adverse outcomes for both the president and the economy.

The world mourns Pope Francis, the transformative first Latin American pontiff, who died at 88, with global tributes and a nine-day mourning period ahead of a conclave.

The world is grieving the loss of Pope Francis, the first Latin American pontiff and a transformative figure in the Catholic Church, who died aged 88.

Known as The People’s Pope, he championed mercy, humility, and compassion throughout his 12-year papacy.

Leaders across the globe, including President Trump and Australian Prime Minister Anthony Albanese, have paid tribute to his lasting legacy. A nine-day mourning period begins, followed by the election of a new Pope via conclave at the Vatican.

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Pope Francis, aged 88, dies from double pneumonia, leaving a legacy of compassion and inclusion as the Church’s first Latin American and Jesuit leader.

Pope Francis has died at the age of 88, following complications from double pneumonia. The Vatican confirmed his death on Monday morning, with Cardinal Kevin Farrell announcing that “the Bishop of Rome, Francis, returned to the home of the Father” at 7:35am.

The first Latin American and Jesuit Pope, Francis led the Roman Catholic Church for over a decade, earning global praise for his humility, progressive stance, and focus on inclusion and compassion.

Just days before his passing, the Pope surprised crowds at Easter Sunday Mass, blessing worshippers in St Peter’s Square. Despite recent hospitalisation with bronchitis, he appeared in good spirits, even pausing to bless children from the Popemobile.

His death has triggered nine days of mourning in Italy. Leaders around the world have paid tribute. Prime Minister Anthony Albanese called him a man “whose compassion embraced all humanity,” while Opposition Leader Peter Dutton described his devotion as unwavering.

Francis will be remembered not only as a man of many firsts — the first Jesuit Pope, the first from the Global South — but also as a tireless advocate for the poor, refugees, and marginalised communities.