The US Federal Reserve is "absolutely" prepared to intervene to help calm nervous financial markets, a senior central bank official said Friday, after President Donald Trump's tariff plans roiled Wall Street.
Global financial markets were rocked on Wednesday by Donald Trump's announcement of sweeping tariffs, targeting China and the European Union in particular, with the risk of undermining the international economy.
The Federal Reserve's preferred inflation measure cooled slightly in January, according to government data published Friday, although it remained stuck above the bank's long-term target.
Wall Street stocks tumbled into negative territory Friday, ending the week on a downcast note after the White House reaffirmed plans to introduce new tariffs against Mexico, Canada and China beginning February 1.
British treasurer Rachel Reeves said Saturday that London was a "natural home" for Chinese finance during a visit to Beijing in the shadow of bond market turmoil back home.
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