An increase in the number of U.S. jobs that was higher than expected makes it unlikely that the Federal Reserve will cut interest rates soon.

The President said that he has considered successors for Fed chair Powell, whose term as chair ends in May 2026. Read more at straitstimes.com. Read more at straitstimes.com.

Jerome H. Powell stressed in his first meeting since the president returned to the White House that policy decisions would be “based solely on careful, objective and nonpolitical analysis.”