Economic News

Among the threats tariffs pose to the U.S. economy, none may be as strange as the sell-off in the dollar. But economists worry the recent drop in the dollar is so dramatic that it reflects something more ominous as President Trump tries to reshape global trade: a loss of confidence in the U.S.. The dollar’ s dominance in cross-border trade and as a safe haven has been…

WASHINGTON— President Donald Trump attacked Federal Reserve Chair Jerome Powell on Thursday for not cutting interest rates and claimed he could fire him if he wanted to, renewing a threat from his first term that could cause a major legal showdown over the issue of the central bank's long-standing political independence. "If I want him out, he'll be out of there…

Two people were killed and six wounded in a shooting on the campus of Florida State University, and economists say it could backfire if President Trump pressures the Federal Reserve to lower interest rates. Today’ s episode of Up First was edited by Willem Marx, Susanna Capelouto, Rafael Nam, Janaya Williams and Mohamad ElBardicy. It was produced by Ziad Buchh, Nia…

U.S. President Donald Trump on Thursday launched a series of attacks against Federal Reserve Chair Jerome Powell, accusing the central bank chief of "playing politics" by not cutting interest rates, asserting he had the power to evict Powell from his job "real fast," and looking forward to the day when Powell was gone. Powell's termination as Fed chair "cannot come…

—Donald Trump has stepped up his attacks on Federal Reserve Chair Jerome Powell at the same time that the Supreme Court is considering a case that could make it easier for the president to fire him. In comments at the White House Thursday, Trump suggested he has the power to remove Powell and criticized him for not aggressively cutting interest rates.

President Donald Trump on Thursday escalated his long-running attack on the Federal Reserve by lashing out repeatedly at the head of the nation's central bank, Jerome Powell, for not doing enough to fortify the economy as the effects of tariffs take hold. In an early morning social media post that ricocheted around Washington, Wall Street and beyond, Trump…

President Trump told the Federal Reserve on Thursday to cut interest rates and even called for the“ termination” of Chair Jerome Powell. Mr. Trump, writing on Truth Social, pointed to the European Central Bank, which cut interest rates this week in an attempt to spur growth. On Wednesday, Mr. Powell told the Economic Club of Chicago that Mr.

That’ s the read of a top economist with one of the nation’ s largest banks, who spoke to a lunchtime crowd at the String& Splinter Club in High Point on Thursday. “The longer this tariff saga drags out, the more it gouges into growth,” said Mike Skordeles, head of U.S. economics at Truist Advisory Services.“ Businesses are struggling with the uncertainty of it.”.

U.S. markets plunged Wednesday as renewed tariff concerns rattled Wall Street. Nvidia shares tumbled nearly 7% after the company disclosed that new U.S. government restrictions on chip exports to China would cost it $5.5 billion. During a speech in Chicago, Powell signaled that the Federal Reserve is holding off on any interest rate changes until there is more…

U.S. President Donald Trump said Thursday that Federal Reserve Chair Jerome Powell' s termination "cannot come fast enough" as he reiterated his frustration that the Fed hasn't aggressively cut interest rates. Senate Democratic Leader Chuck Schumer, D- N.Y., is calling on the Justice Department to investigate whether the arson attack on Pennsylvania Gov.

–President Donald Trump slammed the "too late" Federal Reserve chair Jerome Powell after he warned on Wednesday of the economy facing stagflation due to the president's sweeping tariff agenda. "The is expected to cut interest rates for the 7th time, and yet,' Too Late' Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another,…

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A peeved President Donald Trump lashed out at Fed Chairman Jerome Powell, hinting that he believed he could fire him and that his "termination" can "t come" fast enough "after the European Central Bank cut interest rates. “If I want him out, he’ ll be out of there real fast, believe me, "Trump said in the Oval Office while taking questions from reporters with Italian Prime…

SBL Holdings, Inc., the parent of Security Benefit Life Insurance Company, today announced that the annual dividend rate on its 7.000% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A will reset in May as provided in the Series A terms. The rate will be reset to a benchmark of five-year U.S. Treasury yields to maturity plus a spread of 5.58%.

—The Federal Reserve Bank of Philadelphia has chosen Anna Paulson, a top official at the Chicago Fed, to serve as its next president. Paulson, 60, will replace Patrick Harker on June 30, when Harker steps down after completing a 10- year term. Paulson is currently executive vice president and director of research at the Federal Reserve's Chicago branch, where she…

The Federal Reserve Bank of Philadelphia appointed Anna Paulson as its next president and chief executive officer. The bank's territory includes the entire state of Delaware and portions of New Jersey and Pennsylvania. Paulson will represent the Third Federal Reserve District on the Federal Open Market Committee, which governs monetary policy. and will…

–President Donald Trump again called for the Federal Reserve to lower interest rates Thursday morning. The Fed cut rates three times in 2024, but Trump has called for more rate cuts several times since returning to office, including at the World Economic Forum in January, again on Truth Social in March as a means of boosting the economy throughout the…

Apr. 17— Anna Paulson, a career economist at the Federal Reserve's Chicago bank, will take over as president of the Federal Reserve Bank of Philadelphia, the bank said Thursday morning. "For two decades, Anna has demonstrated a strong commitment to the Federal Reserve's dual mandate of price stability and maximum employment," Anthony Ibargüen, a King of Prussia…

The average rate on a 30- year mortgage in the U.S. climbed to its highest level in eight weeks, a setback for home shoppers in the midst of the spring homebuying season. Mortgage rates are influenced by several factors, including global demand for U.S. Treasurys, the Federal Reserve’ s interest rate policy decisions and bond market investors’ expectations for…