Economy Mar 24 Chances of Fed cutting interest rates fade as inflation worsens With inflation measures likely to rise in the coming months, the prospect of interest rate cuts this year by the Federal Reserve is fading.
Nation Mar 22 Trump touted bigger tax refunds, but higher gas prices are likely to eat them up The large jump in tax refunds from President Donald Trump’s tax cut legislation was meant to boost the U.S. economy, but surging gas prices are on track to eat them up, leaving Americans with little extra to spend.
Politics Mar 19 Justice Department probe of Powell could backfire on Trump and keep Fed chair in office President Donald Trump has for months wanted to remove Jerome Powell as chair of the Federal Reserve. But instead, an investigation by one of his own officials could end up extending Powell's time at the top of the central bank even after his term…
Economy Mar 18 WATCH: Fed Chair Powell holds news briefing after interest rate left unchanged Federal Reserve officials expect the Iran war will worsen inflation this year while having little impact on growth, but they still expect to cut their key rate once in 2026.
Politics Mar 13 WATCH: Pirro blasts judge blocking Justice Department subpoenas to Federal Reserve in Powell probe A federal judge on Friday quashed Justice Department subpoenas issued to the Federal Reserve in January, a severe blow to an investigation that has already attracted strong criticism on Capitol Hill.
Economy Mar 13 Key inflation gauge worsened in January, before Iran war lifted gas prices Prices rose 2.8% in January compared with a year earlier, the Commerce Department said Friday.
Economy Mar 11 The Iran war and surging oil prices are affecting consumers. Here's how You don't have to drive a car to be affected.
Economy Mar 11 Inflation held steady last month before attack on Iran sent energy costs soaring Wednesday’s data has been overtaken by the conflict that began when the U.S. and Israel attacked Iran on Feb. 28, which has caused wild gyrations in oil prices as shipping lanes through the Persian Gulf have suffered a rare shutdown.
Politics Mar 04 White House formally nominates Kevin Warsh to be next Federal Reserve chair Warsh's nomination, which was initially announced Jan. 30, was forwarded to the Senate Wednesday, where it will be taken up by the Senate Banking Committee.
Economy Mar 03 The U.S. economy is already unsteady. A war in Iran could add to that uncertainty A longer war that pushed oil past $100 a barrel for an extended period would likely boost inflation, at least temporarily.