Breaking News: Economy

Yellen says Powell probe ‘extremely chilling’ for Fed independence, market should be concerned

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Yellen says Powell probe ‘extremely chilling’ for Fed independence, market should be concerned

Former Federal Reserve Chair Janet Yellen on Monday condemned an investigation into her successor, Jerome Powell, saying it compromises the central bank’s independence. Yellen, who served as Treasury secretary after leaving the Fed, added that she thinks financial markets should be more concerned about a situation that she called “extremely chilling.” “I’m surprised the market … Read more

Banks including Citi, JPMorgan slide after Trump calls for credit card interest rate limit

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Banks including Citi, JPMorgan slide after Trump calls for credit card interest rate limit

Banks and financial services stocks slid Monday after U.S. President Donald Trump called for a one-year cap on credit card interest rates at 10%. Citi Group lost almost 4% in premarket trading and JPMorgan Chase was last seen down 2.88%, paring some earlier losses. Bank of America fell 2.36%, Visa declined 1.94%, and Mastercard was 2.21% … Read more

Supreme Court tariff decision: U.S. Customs has new deadline for companies seeking refunds

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Supreme Court tariff decision: U.S. Customs has new deadline for companies seeking refunds

The Contemplation of Justice statue at the US Supreme Court in Washington, DC, US, on Tuesday, Nov. 4, 2025. Pete Kiehart | Bloomberg | Getty Images There is a new deadline for U.S. importers to file for electronic refunds if the Supreme Court rules President Donald Trump’s IEEPA tariffs are illegal. U.S. Customs published details … Read more

Trump instructs ‘representatives’ to buy $200 billion in mortgage bonds, aiming to lower rates

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Trump instructs ‘representatives’ to buy 0 billion in mortgage bonds, aiming to lower rates

US President Donald Trump speaks during a bill signing ceremony in the Oval Office of the White House in Washington, DC, US, on Friday, Dec. 12, 2025. Francis Chung | Politico | Bloomberg | Getty Images President Donald Trump on Thursday said he is “instructing my Representatives” to buy $200 billion in mortgage bonds, claiming … Read more

Treasury Secretary Bessent says more Fed rate cuts are ‘only ingredient missing’ for stronger economy

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Treasury Secretary Bessent says more Fed rate cuts are ‘only ingredient missing’ for stronger economy

U.S. Treasury Secretary Scott Bessent speaks during a press conference to unveil the official Trump Accounts website, at the Treasury Department in Washington, D.C., U.S., December 17, 2025. Aaron Schwartz | Reuters Treasury Secretary Scott Bessent on Thursday pressed the administration’s desire for lower interest rates, saying they are the key to future economic growth. … Read more

Layoff pace in December hit lowest level since mid-2024, Challenger says

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Layoff pace in December hit lowest level since mid-2024, Challenger says

Business representatives staff a table at a career fair in Harlem hosted by Assemblymember Jordan Wright on Dec. 10, 2025, in New York City. Spencer Platt | Getty Images Announced layoffs fell sharply in December, hitting a 17-month low in a potential sign that the labor market is at least stabilizing, consulting firm Challenger, Gray … Read more

Private payrolls rose 41,000 in December, slightly below expectations, ADP says

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Private payrolls rose 41,000 in December, slightly below expectations, ADP says

A “Join Our Team” flyer at the Appalachian State University internship and job fair in Boone, North Carolina, US, on Wednesday, Oct. 1, 2025. Allison Joyce | Bloomberg | Getty Images Private sector job creation turned positive in December though at a bit softer pace than expected, payrolls processing firm ADP reported Wednesday. Companies added … Read more

Euro zone inflation hits 2% in December, in line with forecasts

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Euro zone inflation hits 2% in December, in line with forecasts

Downtown Amsterdam Jacobh | E+ | Getty Images Euro zone inflation stood at 2% in December, flash data from Eurostat showed on Wednesday. Economists polled by Reuters had expected the inflation rate to cool to 2%, in line with the European Central Bank’s (ECB) target. In November, the inflation rate stood at 2.1%. Core inflation, … Read more

Iran unrest deepens as U.S. attack in Venezuela sharpens Trump intervention threat

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Iran unrest deepens as U.S. attack in Venezuela sharpens Trump intervention threat

A large anti-Israeli banner portraying an image of a Palestinian fighter and the slogan in Persian and Hebrew, “Endless Voice of Resistance” is erected in Palestine Square in Tehran on December 31, 2025. Atta Kenare | Afp | Getty Images Widespread anti-government protests have roiled Iran for over a week, forcing its leaders to weigh … Read more

Behind the mesh curtain: Why airline class wars will intensify in 2026

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Behind the mesh curtain: Why airline class wars will intensify in 2026

Planes line up on the tarmac at LaGuardia Airport on November 10, 2025 in New York City. Spencer Platt | Getty Images News | Getty Images From Spirit Airlines’ fight for survival to American Airlines‘ planned glow-up, from new international routes and brand-new airport lounges to stingier frequent flyer policies, class divides in the sky … Read more