Politics
CFPB Official Quits With Fiery Email
Cara Peterson, the acting head of enforcement for the Consumer Financial Protection Bureau, quit on Tuesday after sending a fiery email to…
Tag
Banking and Financial Institutions
Business
Toyota Says Tariffs Will Erase $1.3 Billion in Profits in Just 2 Months
A year ago, the world’s biggest automaker was on a tear. American consumers were snapping up Toyota Motor’s hybrids, and a weak yen…
Business
As Fed Holds Rates Steady, Powell Says Next Step Is ‘Not at All Clear’
The Federal Reserve left interest rates unchanged on Wednesday for a third meeting in a row, as officials pointed to heightened…
Business
China Cuts Interest Rates to Shore Up Economy Hit by Trade War
China’s central bank cut interest rates and made it easier on Wednesday for banks to increase lending and pump more money into the…
Business
Credit Suisse Pays $510 Million Fine for Helping Clients Evade Taxes
The toll for misconduct at the fallen Swiss bank Credit Suisse just keeps getting bigger. Federal prosecutors said on Monday that UBS,…
Business
The Fed Isn’t Likely to Cut Rates Proactively Despite Economic Concerns. Here’s Why.
Less than a year ago, the Federal Reserve took decisive action to bolster the U.S. economy. With inflation easing and the labor market…
News
Why Designated Beneficiaries Are Key to Your Estate Planning
Before Zygmund Furmaniuk’s aunt Mary died in 2023, she set up a trust to hold her assets and to distribute her estate, which was valued at…
Business
U.S. Dollar Falls. The Euro Could Step Up as Reserve Currency
The U.S. dollar has fallen about 9 percent in the past three months, according to an index that tracks its performance against a basket of…
News
Trump’s Tariffs Lead Japan to Slash Its Economic Growth Forecast
The growing list of major economies warning of weaker growth because of U.S. tariffs has a new member. The Bank of Japan said on Thursday…
Business
Under Trump, Stocks Have the Worst Start to a Presidential Term Since 1974
One hundred days of President Trump. Seventy days of whipsaw trading in financial markets. Thirty three days of losses. More than $6.5…
Business
Dollar Doubts Dominate Gathering of Global Economic Leaders
On the sidelines of the spring meetings of the International Monetary Fund and World Bank this week, Treasury Secretary Scott Bessent…
Business
Stocks Edge Higher as Investors Assess Tariff Scenarios
Stocks inched higher in early trading on Tuesday, as the Trump administration’s chaotic tariff rollout continues to spur volatility in the…
Business
Good Luck Getting Goldman Sachs to Even Say the Word ‘Tariff’
Goldman Sachs on Monday revealed its latest financial results and outlook for the future, and in a deft feat of linguistics, its…
Business
Fed Under Pressure as Inflation Expectations Surge
Federal Reserve officials have had one clear message since President Trump sharply escalated the global trade war this month. Keeping…
Politics
‘This is Not Normal’: Trump’s Tariffs Upend the Bond Market
The bedrock of the financial system trembled on Friday, with government bond yields rising sharply as the chaotic rollout of tariffs shook…
Politics
House Strikes Down $5 Overdraft Fee Limit, Sending Issue to Trump
The House of Representatives on Wednesday approved resolutions striking down a $5 cap on most bank overdraft fees and overturning a rule…
Business
JPMorgan Chase CEO Jamie Dimon Warns of Economic Pain From Trump’s Tariffs
President Trump’s wave of tariffs threatens to bring both short-term economic pain, including lower growth, and long-term damage to…
Business
Trump’s Trade War Raises Bar for Fed Rate Cuts
President Trump’s global trade war has significantly raised the bar for the Federal Reserve to lower interest rates, as tariffs risk…
Politics
Powell Warns Trump’s Tariffs Risk Stoking Even Higher Inflation and Slower Growth
Jerome H. Powell, the chair of the Federal Reserve, warned that President Trump’s tariffs risk stoking even higher inflation and slower…
Business
Trump’s Trade War Risks Forfeiting America’s Economic Primacy
The global economic system that the United States has shaped and steered for more than three-quarters of a century was animated by a…
Business
Capital One Deal for Discover Clears Justice Dept. Hurdle
Capital One cleared a significant obstacle to its proposed acquisition of Discover Financial Services after the Justice Department told…
Politics
As Trump Stokes Uncertainty, the Fed Asks Businesses Where It Hurts
Chris Bergen, who runs a commercial greenhouse business in northern Minnesota, finds himself “walking a tightrope” roughly two months into…
Business
Charlie Javice Found Guilty of Defrauding JPMorgan in $175 Million Acquisition
Charlie Javice, who made big headlines in 2023 when JPMorgan Chase accused her of faking her start-up’s customer list, was found guilty in…
Business
Consumer Bureau Seeks to Undo Settlement and Repay Mortgage Lender
Under President Trump, the Consumer Financial Protection Bureau has dropped nearly a dozen enforcement cases brought during the Biden…