Not just tough talk President Trump wasn’t bluffing, after all. Global markets plunged on Tuesday after U.S. tariffs went into effect on roughly $1.5 trillion worth of imports from Canada, Mexico and China, with another, and even broader, wave set to kick in as soon as next week. China and …
Fresh off the worst inflation shock in decades, Americans are once again bracing for higher prices. Expectations about future inflation have started to move up, according to metrics closely watched by officials at the Federal Reserve. So far, the data, including a consumer survey from the University of Michigan and …
The Federal Reserve’s independence from the White House has long been enshrined in the law. But an executive order that President Trump signed this week seeking to extend his administration’s reach over independent agencies is prompting concerns about how much further he will go to challenge that separation. Mr. Trump’s …
Watch out for interest rates. Not the short-term rates controlled by the Federal Reserve. Barring an unforeseen financial crisis, they’re not going anywhere, especially not after the jump in inflation reported by the government on Wednesday. Instead, pay attention to the 10-year Treasury yield, which has been bouncing around since …
Just in: Lawyers for Elon Musk said he’d withdraw his $97.4 billion bid for control of OpenAI if the company halted its efforts to become a for-profit enterprise. More below. Separately: You might recall that several years ago I wrote a series of columns, following a raft of mass shootings, …
Jerome H. Powell, chair of the Federal Reserve, signaled little urgency to lower interest rates with the economy sturdy and inflation still too high in a hearing with lawmakers on Tuesday. Mr. Powell, who testified before the Senate Banking Committee, confronts an economic and political landscape that is far different …
President Trump has so far restrained himself from trying to meddle with the Federal Reserve on matters related to monetary policy during his second term. But some of the more than 50 executive orders he has signed since returning to the White House are leaving an imprint on the central …
High inflation is stoking fresh debate about how the Federal Reserve should respond to President Trump’s sweeping plans to reorder the world economy through tariffs, leading to questions about whether old playbooks still apply. On Saturday, Mr. Trump is poised to impose 25 percent tariffs on imports from Mexico and …
At the Federal Reserve’s final gathering of 2024, Chair Jerome H. Powell announced that the U.S. central bank was embarking on a “new phase” in how it would set interest rates. The Fed planned to “move cautiously” with cuts going forward, Mr. Powell told reporters at the time, reflecting officials’ …
A test for Trump’s cabinet pick For businesses and markets, perhaps the most important of the hearings for the incoming Trump administration’s Cabinet picks starts on Thursday at 10:30 a.m. Eastern. Scott Bessent, President-elect Donald Trump’s choice for Treasury secretary, will likely be confirmed by the Senate. But the billionaire …
