A top Federal Reserve official said late Thursday that the central bank should cut its key interest rate later this month, carving out a different view than that of Chair Jerome Powell, who has been harshly criticized by the White House for delaying rate cuts.

An independent Federal Reserve in recent decades has increasingly served as an anchor for global markets, stepping in to steady the ship during the 2008-09 financial crisis, the Covid pandemic and other shocks of recent years.

Ghana's central bank said on Friday that an emergency meeting of its Monetary Policy Committee on Thursday had considered whether to take immediate action but held off until a regular meeting later this month.

Powell sent a letter Thursday to Powell sent a letter to Office of Management and Budget Director Russ Vought in response to OMB director's letter last week criticizing the chairman's management of the $2.5 billion renovation, which is $700 million over budget, CNN reported.

President Trump appears to be inching closer to firing Jerome Powell as Federal Reserve chair, according to news reports and his own comments.

Ghana's central bank held an emergency meeting on Thursday to review economic data and market developments, but did not discuss its key policy rate, Governor Johnson Asiama said, adding the main meeting is in 10 days.

Silver has outperformed gold this year with hints of Russian central bank buying and interest from members of the BRICs group seeking a U.S. dollar trade alternative

The escalating campaign by Donald Trump against the Federal Reserve chairman is unnerving the global economy. Ron Insana and Max Chafkin discuss on The 11th Hour.

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of New York President John Williams declined on Wednesday to comment on President Donald Trump’s attacks on the central bank and what it might mean if the president were to somehow remove the Fed’s leader from office.