The Federal Reserve’s first deep look at the economy since President Trumped imposed tariffs on the rest of the world showed the U.S. still expanding steadily, but “pervasive” uncertainty threatened to curtail growth in the months ahead.

Pervasive” uncertainty over President Donald Trump’s shifting tariff plans loomed large across the US in recent weeks, the Federal Reserve said Wednesday (Thursday AEST) in its Beige Book report. Economic activity was little changed since the previous report,

Chief executives of Walmart, Target and Home Depot reportedly warned Trump that supply chain disruptions would lead to empty shelves at U.S. stores in weeks.

The U.S. dollar staged a tentative rebound against its major peers on Wednesday on hopes of de-escalating trade tensions and as President Donald Trump backed away from threats to fire the head of the Federal Reserve,

Trump said he has "no intention of firing" Jerome Powell after repeatedly criticising the head of the central bank, but added that he would like Powell to be "a little more active" on cutting interest rates.