30 January 2025 – EU sanctions against Russian raw aluminium more likely. Commission has submitted a concrete proposal to the member states. And the US Federal Reserve continues to keep interest rates stable.
US Federal Reserve keeps interest rates stable
The US Federal Reserve announced yesterday that it will maintain the federal funds rate of 4.25 to 4.5% for the time being. According to the Fed, the latest indicators suggest that US economic activity is continuing to expand at a solid pace. The unemployment rate has stabilised at a low level in recent months and conditions on the labour market remain solid. However, as inflation remains slightly elevated, the market will be monitored before further interest rate cuts.
US President Trump criticised the Fed on Wednesday
US President Trump on Wednesday criticised the Fed and its chairman Jerome Powell for failing to stop the problem of inflation they have created and that he would do so by ‘unleashing American energy production, reducing regulation, rebalancing international trade and reviving American manufacturing’.
Trump also said that the Fed had ‘done a poor job of regulating banks’ and that he would transfer responsibility for reducing regulation to the Treasury Department.
Analysts view President Trump’s comments favourably
President Trump’s comments were seen as positive by analysts, also in the sense that the market would have an interest in a stable monetary policy from the central bank and the President would therefore focus on more important projects.
Europe in particular could take an example here. While the EU only talks about cutting red tape, this is already being implemented in the United States. The US administration has already taken action, while here, unfortunately, it is only being talked about.
EU sanctions against Russian aluminium increasingly likely
According to various media reports, European Union sanctions against Russian raw aluminium have become more likely. The Commission’s proposal for a 16th package of sanctions against Russia includes measures to restrict aluminium imports into the EU.
The Commission’s proposal has already been communicated to the member states and will soon be put to the vote. Aluminium prices have already reacted to the European Union’s intention with gains.
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