The latest coverage of the banking and financial sectors.
President Trump said Monday he had a “cordial” meeting with Federal Reserve Chairman Jerome H. Powell on the economy and interest rates despite previously attacking the central banker as a “bonehead” who doesn’t understand either.
The Federal Reserve cut its benchmark interest rate Wednesday for the third time this year to try to sustain the economic expansion in the face of global threats. But it hinted that it won’t likely cut again this year.
President Trump stepped up his attacks Wednesday on the Federal Reserve and Chairman Jerome Powell, calling them “the only problem” for the U.S. economy.
U.S. stocks plunged Wednesday on fears of a recession, as President Trump and his advisers blamed the Federal Reserve for not cutting interest rates fast enough.
The Trump administration, fearing a blue Christmas, said Tuesday it will delay until December part of the president’s plan to impose tariffs on a host of popular goods.
The U.S. government officially designated China a currency manipulator Monday, treading where the past two administrations resisted, as President Trump’s trade feud with Beijing escalated.
Turns out the advice that grandparents would dispense with U.S. savings bonds every holiday is true: Save money, and it will add up.
President Trump said Thursday that he will slap a 10% tariff on $300 billion in Chinese imports Sept. 1 because President Xi Jinping is “not going fast enough” on trade talks, swiftly erasing a day of gains on Wall Street and rattling retailers that say it’s U.S. consumers, not Beijing, who will take it on the chin.
The Federal Reserve cut interest rates by a quarter-point Wednesday for the first time since 2008, in a move with implications for President Trump’s reelection bid.
President Trump said Tuesday he wants a “large cut” in interest rates by the Federal Reserve when the central bank meets tomorrow.
Pfizer, the country’s largest drugmaker, will absorb the generic pharmaceutical company Mylan, potentially creating a global generic powerhouse.
Americans continue to have very positive views of the nation’s economy, according to a new Pew Research Center survey.
Treasury Secretary Steven Mnuchin said Wednesday he will return to China on Monday to restart trade talks after negotiations fell apart in May, saying the symbol-laden setting of Shanghai gives him hope the two countries can make progress in dealing with Chinese tech company Huawei and other sticking points.
Nevada officials are launching the nation’s first banking system for the booming cannabis industry, whose dispensaries increasingly are targeted for burglaries and robberies for the hundreds of thousands of dollars of cash they keep on hand to pay employees, taxes and rent.
Presidential candidate Sen. Elizabeth Warren on Monday warned that an economic crash was coming and said she had a plan to stop it.
President Trump urged the Federal Reserve Friday to lower interest rates to spur “unparalleled” growth, telling the central bank, “Don’t blow it!”
White House hopeful Elizabeth Warren is proposing new regulations on the private equity industry, pitching constraints designed to end what she decries as “legalized looting” by investment firms that take over troubled companies.
Christine Lagarde is resigning as managing director of the International Monetary Fund in light of her nomination to be the next president of the European Central Bank.
Treasury Secretary Steven Mnuchin on Monday said the Trump administration, fearing the misuse of shadowy banking channels, will force Facebook or other providers of cryptocurrency to behave like traditional financial institutions if they move forward with their plans.
Codebreaker and computing pioneer Alan Turing has been chosen as the face of Britain’s new 50 pound note, the Bank of England announced Monday.
An early rally on Wall Street that sent the Dow Jones Industrial Average above 27,000 for the first time lost much of its momentum Thursday afternoon.
President Donald Trump says on Twitter he will nominate economists Christopher Waller and Judy Shelton to fill two vacancies on the Federal Reserve Board of Governors.
The Federal Reserve held interest rates steady Wednesday, setting up another potential clash between Chairman Jerome H. Powell and President Trump, who is pushing for a rate cut.
A New York judge refused Wednesday to block congressional subpoenas seeking financial records from two banks that did business with President Donald Trump, making it clear it wasn’t a close call.
Bankers associations for 50 states and Puerto Rico signed a letter Monday asking senators to consider letting financial institutions legally work with state-legal marijuana businesses.
The U.S.’ largest retailer, Walmart, said Thursday President Trump’s newest tariffs on imports from China could lead to higher prices in their stores.
Sen. Elizabeth Warren on Wednesday blasted one of the highest-ranking bank regulators in the Trump administration with a line of questioning he dubbed as “insulting.”
Sen. Steve Daines of Montana said Wednesday he applauds President Trump’s tough stance on trade with China, since he saw firsthand how difficult it is to do business there.
President Trump showed no signs of backing down Tuesday from his trade dispute with China, saying America will “always win” and that he’s seriously considering additional tariffs on $325 billion worth of imports.
Stocks plunged in trading Monday after China announced retaliatory tariffs on U.S. goods and as prospects for a deal to avert a trade war seemed more remote.
Sen. Tom Cotton said Monday the sacrifices by farmers who could suffer due to the nation’s trade war with China are “pretty minimal compared to the sacrifices that our soldiers make overseas.”
President Trump slammed Sen. Bernard Sanders Monday for suggesting the strong economy is not because of Mr. Trump, claiming the economy ‘would have crashed’ if Hillary Clinton had won the 2016 presidential election.
Amazon, which is racing to deliver packages faster, is turning to its employees with a proposition: Quit your job and we’ll help you start a business delivering Amazon packages.
Global stock markets remained under pressure Thursday after China’s Commerce Ministry said Beijing would retaliate if the U.S. follows through with a plan to raise tariffs on Chinese imports.
Stocks are falling sharply on Wall Street Tuesday as the U.S. and China move closer to an escalation of their trade fight.
The U.S. and China were forging ahead Monday with plans for a new round of trade talks, as the Trump administration’s top negotiator renewed the president’s threat to raise tariffs across-the-board on Chinese imports and voiced anger that Beijing was trying to back out of a key commitment.
Conservative economist Stephen Moore withdrew from consideration Thursday for a seat on the Federal Reserve Board, abruptly ending President Trump’s second bid to reshape the central bank in a clash over rising interest rates, monetary policy and economic growth entering the 2020 election cycle.
The Bank of England kept its main interest rate on hold at 0.75% on Thursday as it assesses what impact the delay to Brexit might have on the economy.
Rep. Alexandria Ocasio-Cortez and Sen. Elizabeth Warren slammed Chase Bank this week for posting a #MondayMotivation tweet advising customers to spend more wisely.
President Trump has filed suit against Deutsche Bank and Capital One in an attempt to block congressional subpoenas for his business records.
The Senate’s senior Republican issued an ultimatum to President Trump on Sunday, saying either he cancels his trade-war tariffs or else he can forget about getting his U.S.-Mexico-Canada trade deal through Congress.
Former pizza executive Herman Cain said Tuesday that previous sexual harassment accusations “had nothing to do” with him turning down President Trump’s nomination for the Federal Reserve Board of Governors, citing media restrictions being the main deterrent for him.
Top White House economic adviser Larry Kudlow said Tuesday that it would be up to Herman Cain to withdraw from consideration to be nominated to the Federal Reserve, if the embattled former pizza chain executive and presidential candidate chooses to bail out.
Sen. Kevin Cramer said Thursday he would become the fourth Republican senator to vote against President Trump’s Federal Reserve nominee Herman Cain, effectively ending the pizza executive’s chances to join the board.
Democratic leaders slammed President Trump’s picks for the Federal Reserve Board, warning Thursday that the two men Mr. Trump has floated are unqualified and too political to help steer the U.S. economy.
Pinterest, among the gaggle of tech companies hoping to go public this year, set a conservative price range Monday for its initial public offering. It hopes to raise as much as $1.5 billion in its initial offering of shares.
President Trump will reportedly nominate Herman Cain, a former presidential candidate and pizza company executive, to fill one of the seven seats on the Federal Reserve Board.
The White House said Monday it wants to reform higher education by imposing “common-sense” limits on how much parents and graduate students may borrow, saying it will pressure institutions to keep tuition down, while extending Pell Grants and the work-study programs to students who want to get skills outside the traditional two-or-four-year college track.
Former White House chief economic adviser Gary Cohn said the U.S. is losing the trade war because the administration’s tariffs aren’t working.
The Trump administration on Monday ramped up its economic sanctions on Venezuela, targeting a Russian bank that officials say has provided illicit financing to Venezuela’s embattled socialist president, Nicolas Maduro.
The White House said Wednesday the administration is revoking dozens of visas tied to Venezuelan President Nicolas Maduro, as the administration ramps up pressure on the strongman’s inner circle and financial networks.
Gregory McDonald strides across the spotless factory floor at his company, Goodfish, glowing with pride. He plowed his life savings into the injection-molding equipment that churns out plastic parts for everything from aircraft to sprinkler systems and disposable medical devices. He’s ready to do anything necessary to protect that investment.
The head of the Federal Reserve addressed concerns Tuesday about conflicting state and federal marijuana laws and their effect on the financial industry.
A federal appeals court has blessed AT&T’s takeover of Time Warner, defeating the Trump administration by affirming that the $81 billion merger won’t harm consumers or competition in the booming pay TV market.
