Fed minutes: Most officials supported further rate cuts as worries about jobs rose
Read full article: Fed minutes: Most officials supported further rate cuts as worries about jobs roseMost members of the Federal Reserveโs interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last monthโs meeting showed.
Lack of jobs data due to government shutdown muddies view of hiring and the US economy
Read full article: Lack of jobs data due to government shutdown muddies view of hiring and the US economyFrom Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Departmentโs monthly jobs report.
Bipartisan group of top officials urges Court to reject Trump's effort to fire Fed governor
Read full article: Bipartisan group of top officials urges Court to reject Trump's effort to fire Fed governorA bipartisan group of former Federal Reserve chairs, Treasury secretaries, and top White House economists urged the Supreme Court Thursday to reject an attempt by President Donald Trump to fire Federal Reserve governor Lisa Cook.
Trump appointee to Federal Reserve calls for steeper rate cuts
Read full article: Trump appointee to Federal Reserve calls for steeper rate cutsPresident Donald Trumpโs appointee to the Federal Reserveโs Board of Governors said Monday that the central bankโs key interest rate should be much lower than its current 4.1% level, staking out a position far different than his colleagues.
Post-grad playbook: How to keep your finances afloat
Read full article: Post-grad playbook: How to keep your finances afloatLife after college can be stressful, especially when it comes to money. But with the right tools, you can stay financially fit โ even in a tough market. So, what can grads do to keep their finances afloat?
Federal Reserve shows unexpected unity, independence as it weathers Trump's attacks
Read full article: Federal Reserve shows unexpected unity, independence as it weathers Trump's attacksThe Federal Reserveโs nearly-unanimous decision Wednesday to reduce its key interest rate was seen by many observers as a quiet show of unity and independence amid President Donald Trumpโs relentless pressure for steeper cuts and his unprecedented effort to fire a top Fed official.
Federal Reserve cuts key rate for first time this year
Read full article: Federal Reserve cuts key rate for first time this yearThe Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nationโs labor market.
Retail sales up 0.6% in August from July even as tariffs hurt jobs and lead to price hikes
Read full article: Retail sales up 0.6% in August from July even as tariffs hurt jobs and lead to price hikesShoppers increased their spending at a better-than-expected pace in August from July, helped by back-to-school shopping, even as President Donald Trumpโs tariffs are starting to hurt the job market and lead to price increases.
The number of Americans filing for jobless benefits last week hits 263,000, most in nearly 4 years
Read full article: The number of Americans filing for jobless benefits last week hits 263,000, most in nearly 4 yearsIn another grim sign for the U.S. labor market, jobless claim applications jumped to their highest level in almost four years last week, virtually assuring the Federal Reserve will cut its benchmark interest rate next week.
Rising inflation and a deteriorating job market puts the Fed and Americans in a difficult spot
Read full article: Rising inflation and a deteriorating job market puts the Fed and Americans in a difficult spotInflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.
Trump takes one step back and another forward in his attempt to reshape the Fed
Read full article: Trump takes one step back and another forward in his attempt to reshape the FedPresident Donald Trumpโs goal of appointing a majority of the Federal Reserveโs board of governors faced a setback Tuesday when a court blocked his unprecedented attempt to fire Lisa Cook.
New data shows the US job market was much weaker than thought in 2024, and this year as well
Read full article: New data shows the US job market was much weaker than thought in 2024, and this year as wellThe U.S. job market was much weaker in 2024 and early this year than originally reported, adding to concerns about the health of the U.S. economy.
Stocks tick higher after Wall Street flirts with another record
Read full article: Stocks tick higher after Wall Street flirts with another recordStocks nudged higher ahead of a week with several data reports that could dictate by how much or even whether the Federal Reserve will cut interest rates at its next meeting in a week.
US hiring stalls with employers reluctant to expand in an economy grown increasingly erratic
Read full article: US hiring stalls with employers reluctant to expand in an economy grown increasingly erraticThe American job market, a pillar of U.S. economic strength since the pandemic, is crumbling under the weight of President Donald Trumpโs erratic economic policies.
Key US inflation gauge holds mostly steady though core inflation ticks higher
Read full article: Key US inflation gauge holds mostly steady though core inflation ticks higherThe Federal Reserveโs preferred inflation gauge mostly held steady last month despite President Donald Trumpโs broad-based tariffs, but a measure of underlying inflation increased.
US applications for jobless benefits fell last week as layoffs remain low
Read full article: US applications for jobless benefits fell last week as layoffs remain lowFewer Americans sought unemployment benefits last week as employers appear to be holding onto their workers even as the economy has slowed.
Economist explains how Fed hopes to get interest rate recipe โjust rightโ
Read full article: Economist explains how Fed hopes to get interest rate recipe โjust rightโJustin Begley, an economist with Moodyโs Analytics, joined us on The Morning Show to share his insights into the Fed's decision not to change interest rates, despite pressure from the president.
A key US inflation gauge rose last month as Trump's tariffs lifted goods prices
Read full article: A key US inflation gauge rose last month as Trump's tariffs lifted goods pricesThe Federal Reserveโs preferred inflation gauge ticked higher last month in a sign that President Donald Trumpโs broad-based tariffs are starting to lift prices for many goods.
Most US stocks fall as hopes weaken for a September cut to interest rates
Read full article: Most US stocks fall as hopes weaken for a September cut to interest ratesMost U.S. stocks slipped as doubts rose about whether the Federal Reserve will deliver economy-juicing cuts to interest rates by September.
Federal Reserve likely to stand pat on rates this week, deepening the gulf between Powell and Trump
Read full article: Federal Reserve likely to stand pat on rates this week, deepening the gulf between Powell and TrumpThe Federal Reserve is expected to leave its short-term interest rate unchanged on Wednesday for the fifth straight meeting, a move that will likely underscore the deep divide between how Chair Jerome Powell and President Donald Trump see the economy.
Trump's attacks on Powell threaten the Fed's independence. Here's why it matters
Read full article: Trump's attacks on Powell threaten the Fed's independence. Here's why it mattersPresident Donald Trump has opened up a new front in his attack on the Federal Reserve and its chair, Jerome Powell: He says the alledged mismanagement of a building renovation project could be grounds for firing Powell.
Federal Reserve says building renovation complies with law, defends costs
Read full article: Federal Reserve says building renovation complies with law, defends costsFederal Reserve Chair Jerome Powell on Thursday said the agencyโs renovation of its office complex in Washington complies with plans approved by a local commission, disputing a White House suggestion that they had violated the law by deviating from those plans.
White House escalates pressure campaign on Fed chair by targeting its headquarters renovation
Read full article: White House escalates pressure campaign on Fed chair by targeting its headquarters renovationPresident Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bankโs headquarters.
US stocks set another record and yields leap on signals the US economy is solid
Read full article: US stocks set another record and yields leap on signals the US economy is solidU.S. stocks climbed further into record heights after a report showed the U.S. job market looks stronger than Wall Street expected.
Big banks all pass the Federal Reserve's stress tests, but the tests were less vigorous this year
Read full article: Big banks all pass the Federal Reserve's stress tests, but the tests were less vigorous this yearThe Federal Reserve said all major banks passed this yearโs stress tests, showing they can withstand a hypothetical severe economic downturn.
Fed's Powell repeats warning about tariffs as some GOP senators accuse him of bias
Read full article: Fed's Powell repeats warning about tariffs as some GOP senators accuse him of biasFederal Reserve Chair Jerome Powell said Wednesday that President Donald Trumpโs sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties.
Fed Chair testifies before Congress on economy
Read full article: Fed Chair testifies before Congress on economyThe Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell says, a stance directly at odds with President Donald Trumpโs calls for immediate cuts.
Wall Street ends mixed after the Fed says it's still waiting to see the effects of Trump's tariffs
Read full article: Wall Street ends mixed after the Fed says it's still waiting to see the effects of Trump's tariffsU.S. stocks drifted to a mixed finish after the Federal Reserve indicated it may cut interest rates twice this year, though itโs far from certain about that.
Wall Street recovers from Friday's shock as US stocks rise and oil prices ease
Read full article: Wall Street recovers from Friday's shock as US stocks rise and oil prices easeCalm returned to Wall Street, and U.S. stocks rallied, while oil prices gave back some of their initial spurts following Israelโs attack on Iranian nuclear and military targets at the end of last week.
The number of Americans filing for jobless claims last week remains at the highest level in 8 months
Read full article: The number of Americans filing for jobless claims last week remains at the highest level in 8 monthsU.S. filings for jobless benefits were unchanged last week, remaining at the higher end of recent ranges as uncertainty over the impact of trade wars lingers.
The number of Americans filing for jobless benefits last week rises to highest level in eight months
Read full article: The number of Americans filing for jobless benefits last week rises to highest level in eight monthsFilings for U.S. unemployment benefits rose to their highest level in eight months last week but remain historically low despite growing uncertainty about how tariffs could impact the broader economy.
Fed lifts restrictions placed on Wells Fargo in 2018 because of its fake-accounts scandal
Read full article: Fed lifts restrictions placed on Wells Fargo in 2018 because of its fake-accounts scandalThe Federal Reserve said Tuesday that Wells Fargo is no longer subject to the restraints the Fed placed on the bank in 2018 for having a toxic sales and banking culture.
Trump meets with the Federal Reserve chairman he has repeatedly scorned
Read full article: Trump meets with the Federal Reserve chairman he has repeatedly scornedPresident Donald Trump met with Federal Reserve Chair Jerome Powell and the two discussed the economy but not Powellโs outlook for interest rates, the Fed said.
More Americans file for jobless aid but layoffs remain low despite economic uncertainty over tariffs
Read full article: More Americans file for jobless aid but layoffs remain low despite economic uncertainty over tariffsFilings for U.S. jobless aid jumped last week but American workers broadly remain secure in their jobs despite economic uncertainty over global trade.
US filings for jobless aid, a proxy for layoffs, inch down modestly last week as uncertainty lingers
Read full article: US filings for jobless aid, a proxy for layoffs, inch down modestly last week as uncertainty lingersThe number of Americans filing unemployment claims last week fell slightly as businesses continue to retain employees despite growing economic uncertainty over U.S. trade policy.
US applications for jobless benefits hold firm as layoffs remain low despite tariff uncertainty
Read full article: US applications for jobless benefits hold firm as layoffs remain low despite tariff uncertaintyU.S. applications for jobless benefits held steady last week as layoffs remain low despite uncertainty over how President Donald Trumpโs tariffs will impact the economy.
Average rate on a US 30-year mortgage holds steady at 6.76%, not far from highest levels this year
Read full article: Average rate on a US 30-year mortgage holds steady at 6.76%, not far from highest levels this yearThe average rate on a 30-year mortgage in the U.S. held steady this week, not far from its highest levels this year, but below where it was a year ago.
Wall Street rises on hopes for trade deals that could forestall a recession
Read full article: Wall Street rises on hopes for trade deals that could forestall a recessionU.S. stocks rose after the United States and United Kingdom announced a deal on trade that would lower some tariffs between the two countries.
Wall Street climbs in choppy trading after Fed warns of rising risks for economy, holds rates steady
Read full article: Wall Street climbs in choppy trading after Fed warns of rising risks for economy, holds rates steadyU.S. stocks ended a choppy day higher after the Federal Reserve left its main interest rate alone, as was widely expected, but also warned about rising risks for the U.S. economy.
Federal Reserve leaves key rate unchanged as it sees risk of higher prices and higher unemployment
Read full article: Federal Reserve leaves key rate unchanged as it sees risk of higher prices and higher unemploymentThe Federal Reserve kept its key interest rate unchanged Wednesday, brushing off President Donald Trumpโs demands to lower borrowing costs, and said that the risks of higher unemployment and higher inflation have risen.
Why Trump's call for the Fed to cut interest rates may not help consumers
Read full article: Why Trump's call for the Fed to cut interest rates may not help consumersPresident Donald Trump is badgering the Federal Reserve to cut interest rates, but even if the Fed gave in to the pressure, it wouldnโt necessarily lead to lower borrowing costs for consumers.
Wall Street's rally roars into a 3rd day as companies' profits keep piling up, for now at least
Read full article: Wall Street's rally roars into a 3rd day as companies' profits keep piling up, for now at leastU.S. stocks rallied further as better-than-expected profits for U.S. companies piled up, though CEOs say theyโre unsure whether it will last because of uncertainty created by President Donald Trumpโs trade war.
Dow drops 1,000 points amid trade war fears and Trump-Powell rift
Read full article: Dow drops 1,000 points amid trade war fears and Trump-Powell riftWall Street weakened as investors worldwide get more skeptical about U.S. investments because of President Donald Trumpโs trade war and his criticism of the Federal Reserve, which are shaking the traditional order.
Federal Reserve could be in 'difficult' spot with higher prices, slower hiring
Read full article: Federal Reserve could be in 'difficult' spot with higher prices, slower hiringThe prospect of high inflation stemming from widespread tariffs along with weaker hiring could put the Federal Reserve in a difficult spot, Fed policymakers said in minutes from last monthโs meeting.
Stock market today: Wall Street rallies as pressure eases from the bond market after Fed decision
Read full article: Stock market today: Wall Street rallies as pressure eases from the bond market after Fed decisionU.S. stocks climbed after the Federal Reserve said the economy still looks healthy enough to keep interest rates where they are.
'Stagflation' risk puts Federal Reserve in tricky spot as it meets this week
Read full article: 'Stagflation' risk puts Federal Reserve in tricky spot as it meets this weekThe Federal Reserve and its chair, Jerome Powell, are potentially headed to a tough spot as it prepares to meet Tuesday and Wednesday.
February US wholesale prices unchanged showing inflation easing, though trade wars threaten trend
Read full article: February US wholesale prices unchanged showing inflation easing, though trade wars threaten trendU.S. wholesale inflation decelerated last month, suggesting that price pressures are easing for now.
US employers add a solid 151,000 jobs last month though unemployment up to 4.1%
Read full article: US employers add a solid 151,000 jobs last month though unemployment up to 4.1%U.S. employers added solid 151,000 jobs last month, but the outlook is cloudy as President Donald Trump threatens a trade war, purges the federal workforce and promises to deport millions of immigrants.
Number of Americans filing for unemployment benefits rises to 242,000, highest level in 3 months
Read full article: Number of Americans filing for unemployment benefits rises to 242,000, highest level in 3 monthsApplications for U.S. jobless benefits rose to a three-month high last week but remained within the same healthy range of the past three years.
Second estimate of US growth confirms a 2.3% annual pace expansion in fourth quarter
Read full article: Second estimate of US growth confirms a 2.3% annual pace expansion in fourth quarterThe American economy grew at a solid 2.3% annual rate the last three months of 2024, supported by a burst of year-end consumer spending, the government said, leaving unchanged its initial estimate of fourth-quarter growth.
Inflation, looming trade war take a toll as confidence of the U.S. consumer tumbles
Read full article: Inflation, looming trade war take a toll as confidence of the U.S. consumer tumblesU.S. consumer confidence plummeted in February, the biggest monthly decline in more than four years, a business research group said Tuesday.
Sightly more Americans apply for unemployment benefits last week, but layoffs remain relatively low
Read full article: Sightly more Americans apply for unemployment benefits last week, but layoffs remain relatively lowSlightly more Americans applied for jobless benefits last week, but layoffs remained in the same recent healthy range.
Federal Reserve officials see risks of higher inflation ahead, support pause in rate cuts
Read full article: Federal Reserve officials see risks of higher inflation ahead, support pause in rate cutsFederal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged.
December wholesale prices up a hot 0.4% as fight against inflation appears to have stalled
Read full article: December wholesale prices up a hot 0.4% as fight against inflation appears to have stalledU.S. wholesale prices came in hotter than expected last month at a time when progress against inflation appears to have stalled, undercutting expectations for lower interest rates this year.
LIVE: Federal Reserve Chair Jerome Powell to testify before House Committee on Monetary Policy Report
Read full article: LIVE: Federal Reserve Chair Jerome Powell to testify before House Committee on Monetary Policy ReportThe House Financial Services Committee will hold a hearing Wednesday morning on โThe Federal Reserveโs Semi-Annual Monetary Policy Report.โ
Stock market today: Wall Street holds firm following Trump's latest tariffs
Read full article: Stock market today: Wall Street holds firm following Trump's latest tariffsWall Street held relatively firm following President Donald Trumpโs latest tariff escalation and after the Federal Reserve hinted interest rates may not change for a while.
Average US rate on a 30-year mortgage falls to 6.89%, third straight weekly decline
Read full article: Average US rate on a 30-year mortgage falls to 6.89%, third straight weekly declineThe average rate on a 30-year mortgage in the U.S. eased for the third week in a row, a smidgen of relief for prospective home shoppers getting into the market before the busy spring homebuying season starts.
US job openings fall to 7.6 million in December, suggesting the job market is slowing but healthy
Read full article: US job openings fall to 7.6 million in December, suggesting the job market is slowing but healthyU.S. job openings fell in December, a sign that the labor market is cooling but remains healthy.
Former Federal Reserve adviser indicted and arrested for alleged espionage in dealings with China
Read full article: Former Federal Reserve adviser indicted and arrested for alleged espionage in dealings with ChinaFederal authorities have arrested a former Federal Reserve senior adviser for allegedly giving inside economic information to China.
US inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction
Read full article: US inflation is lingering and tariffs threatened by Trump could nudge prices in wrong directionAn inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.
Average rate on 30-year mortgage eases for second week in as row, but remains just below 7%
Read full article: Average rate on 30-year mortgage eases for second week in as row, but remains just below 7%The average rate on a 30-year mortgage in the U.S. eased for the second week in a row, but remains just below 7%, little relief for prospective home shoppers looking ahead to the spring homebuying season.
Fewer Americans apply for jobless benefits last week as labor market shows continued strength
Read full article: Fewer Americans apply for jobless benefits last week as labor market shows continued strengthThe number of Americans filing for jobless benefits fell last week in a sign that the labor market remains strong.