Fed Official: Need ‘Dust to Clear’ Before Deciding Next Moves
Austan Goolsbee, president of the Fed’s Chicago branch, said if tariffs don’t worsen inflation, rate cuts could resume.
Fed Chair Says Bank Accounts ‘Safe’ Despite Trump’s Teardown of CFPB
Jerome Powell, testifying before the Senate Banking Committee, said “bank accounts overall across the economy are safe” and backed by government deposit insurance.
Trump Orders US to Ditch Penny After Decades of Complaints
“Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time,” the president wrote in a social media post, which was light on details about plans for a post-penny future.
New CFPB Head Moves to Shut Down Agency Without Congressional OK
A Sunday night email ordered the bureau to “cease all supervision and examination activity,” effectively shutting down an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal.
Trump, Musk Demand Termination of Federal Office Leases
One of the next moves in President Donald Trump and Elon Musk’s sweeping effort to fire government employees and curtail operations is using the agency that manages thousands of federal employee worksites around the country to cut down on office space.
Fed Hold Rates Steady, Says Job Market Is ‘Solid’
The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue.
Fed Expected to Stand Pat on Rates Despite Trump Demands
The Federal Reserve is nearly certain to keep its key interest rate unchanged at its policy meeting this week, just a few days after President Donald Trump said he would soon demand lower rates.
Trump’s Inheriting a Solid Economy, Making it Harder to Lower Borrowing Costs or Inflation
President Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep.
Trump Holding Off on Tariffs, Aiming to Cut Energy Prices First
Donald Trump is holding off on tariffs during his first day and placing a big bet that his executive actions can cut energy prices and tame inflation. But it’s unclear whether his orders will be enough to move the U.S. economy as he promised.
Earnings Show Megabanks Thrived in Final Quarter of 2024
JPMorgan’s net income soared 50 percent, and other major banks reported banner earnings for the year.
Fed Officials Now Expect Slower Pace of Rate Cuts Ahead
Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes.
Tong Joins Feds in Suing RealPage, Six Major Landlords
The U.S. Justice Department is suing several large landlords for allegedly coordinating to keep Americans’ rents high by using both an algorithm to help set rents and privately sharing sensitive information with their competitors to boost profits.
Top Fed Bank Regulator Barr, Under Fire from GOP, to Resign
The Federal Reserve’s top financial regulator said Monday that he would resign next month, avoiding a potential confrontation with the incoming Trump administration and Republicans in the Senate.
Average Mortgage Rate Now Highest Since July
The uptick in the cost of home loans reflects a rise in the bond yields that lenders use as a guide to price mortgages.
Survey: Small Biz More Optimistic About Economy After Election
A recent survey shows small business owners are feeling more optimistic about the economy following the election.
Tough Housing Market Forces Container Store Into Bankruptcy
The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to the 1970s grapples with mounting losses and cash flow shortages.
Why the Fed Expects Fewer Rate Cuts Next Year
As expected, the central bank made a quarter-point cut in its benchmark interest rate Wednesday, but signaled fewer cuts in 2025 than previously predicted.
Fed Now Likely to Slow Rate Cut Pace in 2025
Americans hoping for lower borrowing costs for homes and investments may be disappointed after this week’s Federal Reserve meeting.
Overdraft Fee Rule Finalized, But Future Uncertain
President Joe Biden had called the fees, which can be as high as $35, “exploitative,” while the banking industry has lobbied extensively to keep the existing fee structures in place.
Top Fed Official Says December Rate Cut Depends on Data
A top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.
