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Added on the 08/08/2022 16:11:06 - Copyright : Euronews EN
On Friday, President Donald Trump signed an executive order to scale back the 2010 Dodd-Frank financial regulatory framework put in place by his predecessor as a direct response to the financial crisis. In a Friday press briefing, White House Press Secretary Sean Spicer called the Dodd-Frank Act a "disastrous policy." The new administration is aiming for a broad range of financial reforms, ranging from back rules consumer protections.
"My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power," US Federal Reserve Chair Jerome Powell says in Washington. SOUNDBITE
The US Federal Reserve holds interest rates at a 23-year high. "Today, the FOMC (Federal Open Market Committee) decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings," announces US Fed Chair Jerome Powell. SOUNDBITE
European Central Bank President Christine Lagarde announces that ECB European Central Bank left its key interest rates unchanged again. The third consecutive pause since October was widely expected, and leaves the benchmark deposit rate at a record high of four percent. SOUNDBITE
European Central Bank President Christine Lagarde says the institution will freeze borrowing costs again on Thursday but warns that inflation could pick up again in the near term, in an apparent pushback against market hopes of early rate cuts in 2024. It is the second time in a row the central bank has held rates, following a run of historic hikes to tame runaway price rises. SOUNDBITE