News
US Notches One of Its Biggest Annual Trade Gaps Since 1960 (2)
1+ hour, 36+ min ago (98+ words) The US trade deficit widened in December, capping a turbulent year of erratic tariff policy. The goods and services trade gap expanded from the prior month to $70.3 billion, Commerce Department data ... The US trade deficit widened in December, capping a…...
Kashkari Rips Hassett Criticism of NY Fed Tariff Analysis (2)
1+ hour, 41+ min ago (157+ words) Federal Reserve Bank of Minneapolis President Neel Kashkari said recent comments by National Economic Council Director Kevin Hassett critical of a New York Fed study on tariffs undermine the central bank's independence. Federal Reserve Bank of Minneapolis President Neel Kashkari…...
Illinois Governor Pritzker Vows to Grow Nuclear Energy Sector
21+ hour, 35+ min ago (146+ words) Illinois Gov. JB Pritzker (D) called for the state to build at least 2 gigawatts of new nuclear capacity, continuing the state's political U-turn on the energy source roughly a month after lifting a decades-long moratorium on constructing new, large reactors. Illinois…...
Fed’s Plan Tied to Basel On Track for End of First Quarter (1)
22+ hour, 1+ min ago (121+ words) The Federal Reserve's top bank cop said Wednesday that a revised capital proposal tied to Basel III is on track to be released by the end of the first quarter. The Federal Reserve's top bank cop said Wednesday that a…...
Unprecedented ‘Jobless Boom’ Tests Limits of US GDP Expansion
23+ hour, 19+ min ago (135+ words) Forecasters expect Friday's report on gross domestic product to show the economy expanded 2.7% in 2025, a solid pace by any standard for a developed country. But employment barely grew, and the ... The US economy is creating plenty of wealth. It's just…...
BLS Data Show Union Membership Stable Despite Challenges (1)
1+ day, 15+ hour ago (111+ words) Total union membership remained relatively unchanged in 2025, even in the face of tough political and economic headwinds. Total union membership remained relatively unchanged in 2025, even in the face of tough political and economic headwinds. The union membership rate sat at…...
Fed’s Schmid Says Restrictive Rates Needed to Cool Inflation
1+ week, 19+ hour ago (93+ words) Fed's Schmid Says Restrictive Rates Needed to Cool Inflation'Bloomberg Law News Federal Reserve Bank of Kansas City President Jeff Schmid said the US central bank should hold rates at a "somewhat restrictive" level, as he expressed continued concerns over inflation…...
Warsh Call for New Fed-Treasury Accord Unsettles Bond Market (1)
1+ week, 4+ day ago (195+ words) Kevin Warsh floated plenty of ideas for how he would run the Federal Reserve during his campaign for the job as chair. For Wall Street, few are as cryptic " or potentially consequential " as his call for a new accord with…...
Labor Department Sets $13.65 Minimum Wage for Contractors (1)
1+ week, 6+ day ago (200+ words) The Labor Department set the minimum wage for some federal contractors to $13.65 per hour, after President Donald Trump canceled a Biden-era executive order that had set it at $15 per hour. The new wage rate applies to contracts awarded between January…...
ECB Staff ‘Unsettled’ by Push to Shake Up Banking Supervision
1+ week, 6+ day ago (108+ words) ECB Staff "Unsettled" by Push to Shake Up Banking Supervision'Bloomberg Law News European Central Bank employees are balking at comments by a top official who called for a new "mindset" for supervising the region"s biggest banks. In a letter…...