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The Fed Could Be on Hold Until September, Economists Say
More than 20 times during a roughly 45-minute news conference on Wednesday, Jerome H. Powell, the chair of the Federal Reserve, referenced…
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Banking and Financial Institutions
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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…
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What to know about the Fed’s decision.
The Federal Reserve left interest rates unchanged for a third meeting in a row on Wednesday, as officials stuck to a wait-and-see approach…
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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…
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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,…
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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…
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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…
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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…
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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…
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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…
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Bessent Seeks to Reassure Global Leaders on Dollar’s Role as Safe Haven
On the sidelines of the spring meetings of the International Monetary Fund and World Bank this week, Treasury Secretary Scott Bessent…
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Trump Tests Fed’s Independence With Order Expanding Authority Over Agencies
The Federal Reserve’s independence from the White House has long been enshrined in the law. But an executive order that President Trump…
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So, You Want to Get Rid of the Penny. Do You Have a Plan for the Nickel?
President Trump recently ordered the U.S. Mint to stop producing pennies, for a simple-sounding reason. Each penny, he said, has…
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Interest Rate Cuts on Hold Till Inflation Improves, Fed Meeting Minutes Show
The Federal Reserve pressed pause on interest rate cuts last month. The minutes from its January meeting suggest the hiatus is likely to…
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The Cryptocurrency Scam That Turned a Small Town Against Itself
In the Wichita courtroom, Hanes offered his only public reflection on the bank collapse. Wearing a gray suit, he walked up to the lectern,…
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How Trump Is Gutting Regulatory Agencies Like the SEC, CFPB and EEOC
The Trump administration is rapidly delivering wins to American companies by rolling back regulations, pausing investigations and…
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Elon Musk’s Attacks on CFPB Remove Obstacle to Building ‘X Money’
Elon Musk, the world’s richest man, is widely known for amassing his fortune through Tesla, his electric car company, and SpaceX, the…
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Stocks Drop After Hotter Than Expected Inflation Reading
Stocks on Wall Street slumped at the start of trading on Wednesday, dragged lower by data that showed consumer prices rose more than…
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Trump Softens Tone on Inflation After Pledging to Lower Prices
President Trump promised voters that, if elected, he would enact policies that would bring prices down on “Day 1” in office. But three…
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Fed Chair Faces Lawmakers at a Critical Juncture
When Jerome H. Powell, chair of the Federal Reserve, last testified in front of Congress in July, he hailed the “considerable progress”…
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36 Hours After Russell Vought Took Over Consumer Bureau, He Shut Its Operations
The day before Linda Wetzel closed on her retirement home in Southport, N.C., in 2012 — a cozy place where she could open the windows at…
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Sharing Bank Accounts Can Deepen a Couple’s Relationship
When Nia Darville Stokes-Hicks and Armondi Stokes-Hicks married two years ago, they set up five bank accounts. Each had an individual bank…
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What Privatization of Fannie Mae and Freddie Mac Means
Fannie Mae and Freddie Mac, two giant mortgage finance firms, have been controlled by the federal government for nearly 17 years, but a…
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Solid Labor Market Gives Fed Cover to Extend Rate Pause
Less than six months ago, Federal Reserve officials were wringing their hands about the state of the labor market. No major cracks had…