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The heads of several central banks from around the world said Tuesday that Jerome Powell, "a respected colleague," should have full independence in his role as chairman of the U.S. Federal Reserve as it faces a Justice Department investigation. The central bankers' praise for Powell came as President Donald Trump launched more criticisms at him Tuesday morning,…

—Up until this week, Wall Street has generally benefited from the Trump administration’ s policies and has been supportive of the president. When President Donald Trump signed the One Big Beautiful Bill into law in July, it pushed another significant round of tax cuts and also cut the budget of the Consumer Financial Protection Bureau, at times the banking…

“No one— certainly not the chair of the Federal Reserve— is above the law,” Powell said in a statement.“ But this unprecedented action should be seen in the broader context of the administration’ s threats and ongoing pressure.”. In response to the political inquiry into Powell, Senate Finance Committee member Thom Tillis, R- North Carolina, has vowed to block all of Trump’ s…

–Illinois homeowners could see their insurance bills rise again after Allstate filed a $58 million rate increase affecting nearly 300,000 policyholders, reigniting a debate over whether the state should tighten oversight or risk government overreach in the insurance market. Consumer advocates, including Illinois Public Interest Research Group…

In a case challenging the Federal Reserve's debit interchange fee rule, America's Credit Unions joined together with a group of financial trade organizations in support of the Federal Reserve in urging the U.S. Court of Appeals for the Eighth Circuit to reverse a lower court decision. Federal Reserve, arguing that the district court's decision does not align…

Americans are cutting back on retirement savings in the current economic environment and fewer are optimistic about their financial future improving than last year, according to the Q4 2025 Quarterly Market Perceptions Study* from the Allianz Center for the Future of Retirement, part of Allianz Life Insurance Company of North America.

The notices to hospital workers come as AHS attempts to balance its budget following significant cuts to Medicaid and Medi-Cal in the Trump administration budget bill that has major implications for the county system "s rehabilitation, speech therapy and behavioral health outpatient services. The pending layoffs are expected to save approximately…

If you're covered by Medicare, here's some welcome news— Medicare drug coverage can help you handle the rising cost of prescriptions. If you're covered by Original Medicare, some Medicare Cost Plans, Medicare Private Fee-For-Service Plans, or Medicare Medical Savings Account Plans, you can sign up for a Medicare Prescription Drug Plan offered in your area by a…

U.S. markets inched slightly lower before the opening bell Tuesday as investors pore over the first big earnings reports before turning their attention to the government's latest inflation data. JPMorgan shares rose less than 1% after the New York investment bank beat Wall Street's revenue and profit forecasts on a strong performance in markets and growth…

WASHINGTON— The Justice Department's investigation of Federal Reserve Chair Jerome Powell could complicate the path to confirmation for President Donald Trump's future nominees for the Fed Board of Governors after a key GOP senator said Sunday he'd oppose any Trump picks to replace Powell or other board members. The panel is currently split 13-11 between…

In Forsyth County, navigating the bail process means understanding your options and finding a bondsman you can trust to guide you through it. Below are five bail bond companies serving Forsyth County, starting with one that stands out for availability, experience, and professionalism. Around The Clock Bail Bonds earns the top spot for its consistent…

WASHINGTON— President Donald Trump's feud with Federal Reserve Chairman Jerome Powell has escalated into a Department of Justice investigation, raising alarm bells among some Republicans in the Senate, where Trump will need broad backing from GOP lawmakers to get his choice for the next Fed chairman approved after Powell's term ends in May.

Powell said the Department of Justice served the Federal Reserve with grand jury subpoenas on Friday, threatening a criminal indictment related to Powell's testimony before the Senate Banking Committee last June about a multi-year Federal Reserve renovation project. "This new threat is not about my testimony last June or about the renovation of the…

Long-running tensions between President Donald Trump and Federal Reserve Chair Jerome Powell have escalated. On Jan. 9, the Justice Department served the Federal Reserve with grand jury subpoenas. On Jan. 11, Powell released a video statement saying that the Justice Department threatened him with a criminal indictment tied to his congressional testimony on…

The following information was released by the Federal Reserve Board:. The reviews focused on leveraged loans and stressed borrowers from various industry sectors and assessed aggregate loan commitments of $100 million or more that are shared by multiple regulated financial institutions. U.S. banks hold 45 percent of all SNC commitments.