News
Why is the stock market shrugging off the criminal probe into Fed Chair Powell?
2+ hour, 32+ min ago (849+ words) Some economists and former top Fed officials raised alarm about the move. An outcry rang out from prominent figures within hours of reports that the Department of Justice had opened a criminal investigation into Federal Reserve Chair Jerome Powell. All…...
Inflation held firm in December, testing Fed amid DOJ probe into Powell
9+ hour, 43+ min ago (559+ words) Probe brings scrutiny to independence of Fed and its capacity to manage prices. Inflation held steady in December, continuing to prove stubborn just days after reports of a Department of Justice probe into Federal Reserve Chair Jerome Powell brought fresh…...
Wall Street CEOs warn Trump: Stop attacking the Fed and credit card industry
12+ hour, 9+ min ago (508+ words) Wall Street's relationship with the Trump administration is souring NEW YORK -- Up until this week, Wall Street has generally benefited from the Trump administration's policies and has been supportive of the president. That relationship has suddenly soured. But now the…...
World shares are mixed and Tokyo hits a record, tracking fresh highs on Wall Street
13+ hour, 51+ min ago (640+ words) World shares are mixed ahead of an update on U.S. consumer prices HONG KONG -- World shares were mixed and U.S. futures edged lower Tuesday ahead of an update on U.S. consumer prices. In early European trading, the FTSE 100 in London edged up less…...
Consumer prices likely stayed elevated in December as data recovers from shutdown
19+ hour, 26+ min ago (455+ words) WASHINGTON -- Inflation likely remained elevated last month as the cost of electricity, groceries, and clothing may have jumped and continued to pressure consumers' wallets. The Labor Department is expected to report that consumer prices rose 2.6% in December compared with a…...
Stocks fall after Trump's DOJ opens criminal probe into Fed Chair Powell
1+ day, 10+ hour ago (466+ words) Powell rebuked the probe as an effort to undermine the Fed's independence. Stocks slid in early trading on Monday hours after reports that the Department of Justice had opened a criminal investigation into Federal Reserve Chair Jerome Powell centered on…...
Meta names former Trump adviser Dina Powell McCormick as president and vice chairman
1+ day, 12+ hour ago (249+ words) NEW YORK -- Facebook owner Meta has named Dina Powell McCormick, a former Trump administration adviser and longtime finance executive, as president and vice chairman of the tech giant. Powell McCormick previously served on Meta's board of directors " where, the company…...
Federal Reserve Chair Powell says DOJ has subpoenaed central bank, threatens criminal indictment
1+ day, 17+ hour ago (787+ words) WASHINGTON -- Federal Reserve Chair Jerome Powellsaid Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed's building renovations. The move represents an unprecedented…...
Trump pushes a 1-year, 10% cap on credit card interest rates and banks balk
3+ day, 8+ hour ago (606+ words) President Donald Trump says he wants a one-year, 10% cap on credit card interest rates NEW YORK -- Reviving a campaign pledge, President Donald Trump wants a one-year, 10% cap on credit card interest rates, a move that could save Americans tens of…...
Could Trump bring down home prices by banning Wall Street ownership?
4+ day, 4+ hour ago (753+ words) Home prices have played a key role in Americans' affordability woes. President Donald Trump this week issued an attention-grabbing proposal cracking down on Wall Street in an effort to lower home prices and ease affordability woes. In a social media…...