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Warren Buffett, the legendary investor and Berkshire Hathaway CEO, complimented Trump's economic policies, as per Fortune.

Warren Buffett wants the world to know: he’s not cheering Donald Trump’s tariff spree. And he hasn’t said a word about it—despite what viral videos and presidential posts might suggest. Berkshire Hathaway issued a rare public statement on Friday, flatly denying that Buffett ever praised Trump’s recent economic measures. “There are reports currently circulating on social media (including Twitter, Facebook and TikTok) regarding comments allegedly made by Warren E. Buffett. All such reports are false,” the company said. The clarification came hours after US President Donald Trump shared a video on Truth Social claiming Buffett had declared Trump was making “the best economic moves he’s seen in over 50 years.” The video, originally posted by an Instagram user called «AmericanPapaBear,» suggested Trump was “crashing” the stock market on purpose to make equities cheaper for the middle class. Trump’s repost came just as global markets were convulsing in response to his new tariffs.

Federal Reserve Chair Jerome Powell said Friday that he expects President Donald Trump's tariffs to raise inflation and lower growth, and indicated that the central bank won't move on interest rates until it gets a clearer picture on the ultimate impacts.

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trade war fears rage on. Dow Jones futures are down as much as 3%, while Nasdaq is on track to fall another 3%. This came after China pledged additional tariffs on US goods in retaliation to Trump's reciprocal levies. US stocks fell sharply on Thursday too with S&P 500 plunging nearly 5%, its largest one-day percentage decline since June 2020.

The rupee closed at 85.2350 against the U.S. dollar, ending stronger on the day and up 0.3% on the week, adding to a 2% gain over the last fortnight.

Shares in Australia and Japan fell at the open. US equity-index futures were steady as trading kicked off in Asia after the S&P 500 declined 4.9% on Thursday and the Nasdaq 100 slumped 5.5%, the biggest drop since 2020 for each. The slump wiped out around $2.5 trillion from the US stock market. Oil sold off and the greenback extended its drop on Friday as yields on the 10-year US Treasury hovered around the 4% mark. Markets are closed in China and Hong Kong.

Subscribe to enjoy similar stories. It’s time to hedge America. Even though President Donald Trump has declared that April 2 will be America’s Liberation Day, stock investors may reach a different conclusion.

Subscribe to enjoy similar stories. AMERICA’S ECONOMY is looking peaky. Inflation expectations are creeping up.

stagflation," as one economist put it—a concern gaining traction among analysts who question whether the U.S. economy's strong post-pandemic performance is beginning to wane. On Wednesday, the Federal Reserve painted a picture of an economy reshaped dramatically by President Donald Trump and his economic policy. It warned that tariffs could significantly dampen the economic outlook, ushering in higher inflation and slower growth. That sparked concerns about the dreaded “stagflation,” an economic curse that is hard to escape. ALSO READ: Who is Jeffrey Goldberg, the Atlantic's editor who was 'accidentally' added to top Trump officials' secret Yemen strike chats

Subscribe to enjoy similar stories. The Federal Reserve will reduce the monthly redemption limit on Treasury securities. Some analysts interpreted the move as an effort to lower long-term bond yields, in line with Treasury Secretary Scott Bessent’s goals.

Subscribe to enjoy similar stories. “Everything keeps changing in this transitory life," according to the performance artist Laurie Anderson. The use of “transitory" was assumed to have been consigned to the dustbin of the history of the Federal Reserve’s blunders after the Fed failed to recognize that post-Covid inflation was anything but passing.

Federal Reserve's hint at rate cuts this year also fostered appeal.

Federal Reserve indicating no rush to cut interest rates. The risk-sensitive Australian and New Zealand dollars remained on the defensive after steep slides on Thursday as worries about the economic drag from U.S. President Donald Trump's aggressive campaign of global trade tariffs dented sentiment.

There was an oft-repeated message in Federal Reserve chair Jerome Powell's press conference on Wednesday: Tariffs will raise consumer prices.

interest rates steady. The Nasdaq Composite gained 0.3%, while the Dow Jones Industrial Average and S&P 500 both rose by 0.2%. This marked a continuation of Wednesday’s rally, which was fueled by Fed Chair Jerome Powell’s reassuring statements on inflation and recession risks. Despite prior concerns, Powell’s projection of two rate cuts later this year encouraged investor confidence.

Following a meeting of the Federal Open Market Committee (FOMC) on Wednesday (19 March), rate setters repeated their January decision and kept rates unchanged, following calls in recent months from the central bank's chair Jerome Powell for a «gradual» approach to cuts. Trump lambasts the Fed as it leaves interest rates unchanged According to Lindsay James, investment strategist at Quilter, «Powell is flying somewhat blind given not only the extremity of the tariffs being announced by Donald Trump, but his willingness to U-turn at the last moment, making any attempt by businesses and ...

Indian rupee hit a near two-month high on Thursday, boosted by dollar sales by foreign banks and the culling of bearish wagers as seasonal inflows propped up the currency. The rupee touched a high of 86.2075, its best since January 24, marking a 1.2% appreciation over the past seven trading sessions. The currency was last quoted at 86.29, up 0.2% on the day.

The Fed left interest rates unchanged on Wednesday, as widely expected, while maintaining its projection for two quarter-percentage-point cuts by year-end. Policymakers, however, raised their inflation forecast and lowered economic growth expectations, citing risks from U.S. President Donald Trump's tariff policies.

Subscribe to enjoy similar stories. Fed officials essentially project stagflation this year, with both lower growth and higher inflation. Federal Reserve officials didn’t alter interest rates this week, and investors shouldn’t get too comfortable with their projections for two rate cuts later this year.

U.S. policymakers projected likely two quarter-point interest rate cuts later this year, the same median forecast as three months ago, even as they expect slower economic growth and higher inflation. On Wednesday, the Fed held its benchmark overnight rate steady in the 4.25%-4.50% range.