Jan 29 WATCH: Howard Lutnick testifies at Senate confirmation hearing for commerce secretary By Paul Wiseman, Associated Press Billionaire financier Howard Lutnick has emerged as an outspoken supporter of Trump's hardline trade policies. Continue reading
Nov 19 Trump picks billionaire and transition adviser Howard Lutnick for commerce secretary By Fatima Hussein, Associated Press President-elect Donald Trump has chosen Howard Lutnick, head of brokerage and investment bank Cantor Fitzgerald and cryptocurrency enthusiast, as his nominee for commerce secretary. Continue reading
Aug 29 U.S. economic growth revised up to solid 3 percent annual rate for second quarter of 2024 By Paul Wiseman, Associated Press The U.S. economy grew last quarter at a healthy 3 percent annual pace, fueled by strong consumer spending and business investment, the Department of Commerce said Thursday in an upgrade of its initial assessment. Continue reading
Jul 30 White House says no need to restrict open-source AI, for now By Matt O'Brien, Associated Press The White House is coming out in favor of “open-source” artificial intelligence technology, arguing there’s no need now for restrictions on companies making key components of their powerful AI systems widely available. Continue reading
May 31 A closely tracked inflation gauge rises at slowest pace this year By Christopher Rugaber, Associated Press A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year. Continue reading
Aug 30 U.S. economic growth for last quarter revised down slighty to a 2.1 percent annual rate By Paul Wiseman, Associated Press The Commerce Department's second estimate of growth last quarter marked a slight acceleration from a 2 percent annual growth rate from January through March. Continue reading
May 12 Commerce Department launches process to fund tech hubs across the U.S. with $500 million in grants By Josh Boak, Associated Press The $500 million is part of a $10 billion authorization from last year's CHIPS and Science Act to stimulate investments in new technologies such as artificial intelligence, quantum computing and biotech. Continue reading
Mar 31 This key inflation measure slowed sharply in February By Paul Wiseman, Associated Press It's an encouraging sign in the Fed's yearlong effort to cool price pressures through steadily higher interest rates. Continue reading
Feb 28 Federal computer chip funding to require security restrictions, worker benefits By Josh Boak, Associated Press The Commerce Department is opening the application process for computer chip manufacturers to access $39 billion in government support to build new factories and expand production. Continue reading
Nov 30 U.S. economy grew 2.9 percent last quarter slightly beating expectations, revised data says By Paul Wiseman, Associated Press Last quarter’s rise in the U.S. gross domestic product, or the economy’s total output of goods and services, followed two straight quarters of contraction… Continue reading