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In his remarks Tuesday, the central bank leader asserted that the Fed is "well positioned to wait" on interest rate policy.

Chinese Premier Li Qiang was speaking at the opening plenary of the World Economic Forum's annual conference in China, often dubbed "Summer Davos."

From expanding investment channels to building digital infrastructure, Beijing has been laying the groundwork to promote international use of its currency.

In prepared remarks, Powell said concerns linger over the impact President Donald Trump's tariffs will have on inflation.

The cautious tones from Powell could further antagonize President Donald Trump, who has ramped up his long-standing criticism of Powell.

Middle-income households that buy luxury cars would be able to claim the full financial benefit of a $10,000 tax deduction on car loan interest.

The company said it will use the funding to advance adoption of the Canton Network, a blockchain for financial institutions.

White House officials have raised the heat on Powell to lower rates. Now he's faced with two key Fed officials who have said they could favor a cut in July.

"Overall, Chinese merchants are relatively optimistic," says Bear Huo, China general manager at FundPark, a fintech startup.

Electricity prices are outstripping the pace of inflation by a wide margin — a trend likely to continue in coming years, experts said.

JPMorgan, the biggest U.S. bank by assets and a leader across most major categories of finance, is relatively puny among online brokerages.

The central banker said he and his colleagues should move slowly but start to ease as inflation is now longer a major threat.