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Trump and Powell bicker over Fed building renovations as president ratchets up pressure campaign
WASHINGTON (AP) — After months of criticizing Federal Reserve Chair Jerome Powell, President Donald Trump took the fight to the Fed’s front door on Thursday, publicly scorning the central bank chief over the ballooning costs of a long-planned building project. Powell pushed back, challenging the president’s latest price tag as incorrect. Wearing hard hats and grim […]
Trump signs GENIUS Act, setting stablecoin regulations
WASHINGTON (AP) — President Donald Trump on Friday signed into law new regulations for a type of cryptocurrency, a major milestone for an industry that has spent heavily to strengthen its legitimacy and political might. The GENIUS Act sets initial guardrails and consumer protections for stablecoins, which are tied to assets like the U.S. dollar to reduce […]
Wall Street ticks toward a record as PepsiCo and tech stocks rally
EW YORK (AP) — Wall Street is ticking toward a record on Thursday following some better-than-expected updates on the economy and a mixed set of profit reports from big U.S. companies. The S&P 500 was up 0.5% in afternoon trading and on track to top its all-time high set a week ago. The Dow Jones […]
Trump comments on Fed chair jolt stock market swings
NEW YORK (AP) — President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he had “talked about the concept of firing” the head of the Federal Reserve. Such a move could help Wall Street get the lower interest rates it loves but would also risk a weakened Fed unable […]
The tariff-driven inflation that economists feared begins to emerge
WASHINGTON (AP) — Inflation rose last month to its highest level since February as President Donald Trump‘s sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances. Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of 2.4% […]
Most US stocks fall, but Nvidia keeps Wall Street near records
NEW YORK (AP) — Most U.S. stocks are falling on Tuesday after an update on inflation hurt Wall Street’s hopes for lower interest rates. But indexes are staying close to their records thanks to Nvidia, the market’s most influential stock. The S&P 500 was down 0.1% in midday trading and just a bit below its all-time high, […]
Under fire by Trump over costs, Chair Powell seeks watchdog review of Fed building overhaul
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has asked an inspector general to review the cost of the central bank’s building renovations that White House officials have attacked as “ostentatious.” A spokesperson for the inspector general, an independent watchdog, confirmed the request and declined further comment. The request was previously reported by CNBC. The Fed has [&h[...]
White House budget director accuses Fed chair of violating building rules in renovation
WASHINGTON (AP) — White House budget director Russell Vought suggested in a Thursday letter that Federal Reserve Chair Jerome Powell is in violation of government building rules in the renovation of the Fed’s headquarters. Vought, in a letter he shared on social media, called the initial renovation plans featuring rooftop terrace gardens, VIP dining […]
US stocks tick higher and yields leap as Wall Street sees little chance for a July rate cut (UPDATED)
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are climbing further into record heights on Thursday after a report showed the U.S. job market looks stronger than Wall Street expected. The S&P 500 was up 0.8% in midday trading and on track to set an all-time high for the fourth […]
Stocks drift as Wall Street awaits key jobs report
NEW YORK (AP) — U.S. stocks are drifting on Wednesday, as Wall Street’s record-breaking rally slows ahead of a highly anticipated report coming Thursday about the U.S. economy. The S&P 500 was edging up by 0.1% in morning trading, coming off its first loss after hitting all-time highs in back-to-back days. The Dow Jones Industrial Average was […]
Wall Street drifts as Tesla drops and yields rise following economic updates
NEW YORK (AP) — U.S. stocks are drifting on Tuesday as Wall Street’s momentum slows after setting record highs in each of the last two days. The S&P 500 was 0.1% lower in morning trading and potentially on track for its first loss in four days. The Dow Jones Industrial Average was up by 153 points, or […]
US job openings in May hit 7.8 million in a continuing display of labor market resilience
WASHINGTON (AP) — U.S. job openings rose unexpectedly in May, a sign that the American labor market remains resilien t in the face of high borrowing costs and uncertainty over U.S. economic policy. U.S. employers posted 7.8 million vacancies in May, the Labor Department reported Tuesday, up from 7.4 million in April. Economists had expected a slight […]
