News
Why the Federal Reserve has historically been independent of the White House
5+ hour, 54+ min ago (974+ words) It is a major escalation by the administration after repeated attempts by President Donald Trump to exert greater control over the independent institution. Trump has repeatedly attacked Powell for not cutting its short-term interest rate, and even threatened to fire…...
Trump pushes a 1-year, 10% cap on credit card interest rates, and banks balk
2+ day, 5+ hour ago (519+ words) By KEN SWEET and SEUNG MIN KIM Associated Press 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 billions of dollars but drew…...
Budget office expects Federal Reserve to cut rates in 2026
4+ day, 2+ hour ago (309+ words) Despite the Fed's cuts, however, the budget office projects the yield on 10-year Treasury notes to increase gradually, from 4.1% in the fourth quarter of 2025 to 4.3% in the fourth quarter of 2028. The 10-year Treasury yield is a benchmark for mortgage rates,…...
Wall Street rises on Big Tech gains and approaches records
6+ day, 7+ hour ago (324+ words) By DAMIAN J. TROISE, AP Business Writer The S&P 500 added 0.4% and is sitting just below the record it set in late December. The Dow Jones Industrial Average rose 158 points, or 0.3%, after setting a record on Monday. The Nasdaq composite rose…...
Average US long-term mortgage rate falls to the lowest level of the year at 6.15%
1+ week, 4+ day ago (455+ words) By MATT OTT, AP Business Writer The average long-term mortgage rate dipped to 6.15% from 6.18% last week, mortgage buyer Freddie Mac said Wednesday. That's the lowest average long-term rate since October 3, 2024 when it dipped to 6.12% before shooting back up. One year…...
Trump overturned decades of US trade policy in 2025. See the impact of his tariffs, in four charts
2+ week, 3+ day ago (340+ words) By WYATTE GRANTHAM-PHILIPS and PAUL WISEMAN, Associated Press Since returning to the White House in January, President Donald Trump has overturned decades of U.S. trade policy " building a wall of tariffs around what used to be a wide open economy. His…...
Most US adults aren’t making year-end charitable contributions, new AP-NORC poll finds
2+ week, 3+ day ago (1025+ words) By JAMES POLLARD and LINLEY SANDERS Associated Press NEW YORK " Most Americans aren't making end-of-year charitable giving plans, according to the results of a new AP-NORC poll, despite the many fundraising appeals made by nonprofits that rely on donation surges…...
Consumer confidence slides in December to lowest level since US tariffs rolled out in April
2+ week, 6+ day ago (197+ words) U.S. consumers were less confident in the economy in December as Americans remain anxious about still-high prices and the impact of President Donald Trump's sweeping tariffs. By MATT OTT, Associated Press Business Writer [Is "soft saving" smart " or shortsighted?] [US economy…...
US economy expands at a surprisingly strong 4.3% annual rate in the third quarter
2+ week, 6+ day ago (205+ words) The U.S. economy economy expanded at a strong 4.3% annual rate from July through September as consumer spending, exports and government spending all grew. By MATT OTT, Associated Press Business Writer [A look at the experts racing to decode Trump's tariff rules]…...
Wall Street at a standstill in holiday lull ahead of new US economic data
2+ week, 6+ day ago (582+ words) By ELAINE KURTENBACH and MATT OTT, Associated Press Business Writers Markets are flat early Tuesday in holiday-thinned trading before head of the release of new data on how the U.S. economy fared in the third quarter. Futures for the S&P…...