SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " Federal Reserve " 197 found 🔀 AI-powered Shuffle
US rate futures raise rate hike odds in December after jobs data
U.S. interest rate futures on Friday increased the chances that the Federal Reserves will raise interest rates by the December policy meeting after a blockbuster payrolls number for May, which sharply exceeded market expectations.
US economic activity and inflation both up in recent weeks, Fed survey shows
U.S. economic activity increased a bit in recent weeks, employment was little changed, and the fallout from higher energy prices due to the war in the Middle East was pervasive, the Federal Reserve said on Wednesday, two weeks before Kevin Warsh convenes his first policy meeting as head of the U.S. central bank.
Jerome Powell uses JFK award speech to warn against political pressure on Fed, courts and schools
Former Federal Reserve Chair Jerome Powell used one of his first major public appearances since leaving office to deliver a broad defense of independent institutions while accepting the John F. Kennedy Profile in Courage Award in Boston
Ex-Federal Reserve chair Jerome Powell sounds alarm over political interference
Powell says central bank has been facing ‘stress test’ under Trump, as supreme court weighs decision on Fed governor that president tried to fire
Jerome Powell uses JFK award speech to warn against political pressure on Fed, courts and schools
BOSTON (AP) — Former Federal Reserve Chair Jerome Powell used one of his first major public appearances since leaving office to defend independent institutions while accepting an award Sunday honoring his efforts to preserve the central bank’s independence.
Jerome Powell uses JFK award speech to warn against political pressure on Fed, courts and schools
Former Federal Reserve Chair Jerome Powell used one of his first major public appearances since leaving office to deliver a broad defense of independent institutions while accepting the John F. Kennedy Profile in Courage Award in Boston
Jamie Dimon shares blunt message for Zohran Mamdani as New York business concerns grow
JPMorgan Chase CEO Jamie Dimon joins 'Mornings with Maria' to discuss inflation risks, consumer spending, Federal Reserve policy and why he believes fixing government policy could boost economic growth.
Fed's Goolsbee says oil shock could exacerbate inflationary impulse of AI hype
Chicago Federal Reserve President Austan Goolsbee on Thursday amped up his warning that mounting expectations for the productivity-boosting potential of AI could send inflation higher and force the Fed and other central banks to raise interest rates.
WATCH LIVE: Kevin Warsh sworn in as chairman of the Federal Reserve
Chartbook 449: Voldemort on Threadneedle street. The Bank of England and the "haunted house" of English politics.
Imagine the scene: In some Harry Potter version of 21st-century London, a group of deathless UK Treasury officials gathered from across the last century huddle over warm pints and glasses of Chardonnay. Around the table there are officials from the 1920s, the 1930s, the 1970s, 2022 and today. Inevitably, in May 2026, the subject of conversation is the disintegration of the current Labour government. Despite its huge majority in parliament, it has been reduced to tatters by catastrophic local election result. These exposed the fact that rather than having a government with a clear popular majority, the UK is like most other modern societies divided into 5 segments each of which commands between 26 and 16 percent of the vote. Perhaps unsurprisingly, the leadership at Nos 10 and 11 Downing Street - where the Prime Minister and the Chancellor (Treasury Secretary) work - seem paralyzed. They are caught between mounting discontent over unfairness and the cost of living, and tough fiscal strictures that push them into making unpopular spending decisions. In the London pub, the Treasury officials from across the ages, can barely hide their satisfaction at the latest display of democratic politics caught in the vice-grip of financial logic. “Remember the mur d’argent and the banker’s ramp?” “Just like yesterday!” There are smirks around the table. Then the representative of 2026 pipes up: “One thing you have to say about the current lot (referring to the latest hapless Labour government), you don’t have to teach them about the bond market!” There is a murmur of ascent from the Treasury Mandarins. The trauma of the fiscal crisis of September-October 2022 sits deep. Back then, in the final stages of Tory decay, a ‘mini budget’ that challenged fiscal orthodoxy led to a brief but fierce panic in one of the oldest government bond markets in the world (aka gilt market). Now all you have to do is to mention the “bond market” to hush debate. [ Paul Mason@paulmasonnews In the name of public service, and as ex-economics editor of BBC Newsnight, I offer to do a zoom call, tonight, with any Labour MP who wants to understand why bond markets do not "fall into line" with governments. 1/ 3:57 PM · May 12, 2026 · 466K Views 224 Replies · 674 Reposts · 3.93K Likes ](https://x.com/paulmasonnews/status/2054229532404519082?s=20) “And the funny thing is”, the young man in the huddle continues, “they don’t even want to talk about … ”. There is a sudden hush. Significant looks are exchanged around the table. About? One of the senior figures puts down his glass with a decisive “clink”. He-Who-Must-Not-Be-Named has entered their thoughts. Meanwhile, a few miles away in a grubby pub in Bloomsbury, two conspirators from the camp of Critical Macrofinance huddle over cans of low-alcohol IPA. They look at each other and blurt out loud: “The Bank!” “Everyone in the bloody Labour party is talking about the bond market. But why aren’t they even mentioning … the Bank of England!?” “Why is no one talking about Voldemort?” In Paul Mason’s blogpost, after much chest-thumping about basic fiscal logic, the basic point about the Bank of England is buried in the fine print at #3 in his list of suggestions as to what a radical Labour government might actually be able to do! [ Conflict & Democracy Down with the bond market! Down with gravity! It may seem unfair to focus on Labour MP Paula Barker for her off-the-cuff assertion that the bond market would have to “fall in line” with Andy Burnham, should he replace Keir Starmer as prime minister. But Burnham himself told the New Statesman that Labour had to “get beyond this thing of being in hock to the bond markets… Read more 2 days ago · 100 likes · 3 comments · Paul Mason ](https://htsf.substack.com/p/down-with-the-bond-market-down-with?utm_source=substack&utm_campaign=post_embed&utm_medium=web) Back in Bloomsbury they shake their heads and ask: “Didn’t we learn anything from the Eurozone crisis?” Meanwhile, as if summoned to the conversation by some higher force, the “pink pages” announce: “The days of ultra-cheap government borrowing have come to an end” and Martin “Whizzard” Wolf publishes the graph of the season Look at the UK in 2026, perilously positioned on the upper edge of the pack. No wonder no one in London needs any lessons about the “bond market”. But, look again. Imagine how they feel in Rome. What is London’s nightmare in 2026? The nightmare is that you end up like Italy in the early 2010s during the Eurozone crisis. Once comfortably situated in the middle of the pack, watching with horror as your ten-year yields explode to 7 percent and “spreads” become a national nightmare. One of the largest economies in Europe, a founding member of the euro, stigmatized. But the message of the Italian experience is ambiguous. After all, the stigma didn’t last. In 2026, Italy borrows at rates lower not only than the UK but the US. The US, which, as everyone knows, enjoys the “exorbitant privilege” of being the issuer of reserve, safe asets. What kind of magic is this? How did Italy, in the space of fifteen years, go from being good, to bad and back again? Which brings us back to our dissident friends in their Bloombury boozer and their memories of the Eurozone crisis. Italy never was Britain - with its ongoing fiscal deficits. Without interest payments, on primary balance, from 2000 to 2020 Italy ran a tight fiscal ship. Even in 2008 it barely went into deficit and when it was being put on the rack in the early 20210s its primary surplus matched that of austere Germany. So, what happened? How did it end up stigmatized? Of course Italian politics didn’t help. Berlusconi was at the helm and he had legal issues. But amongst friends in the Bloomsbury pub, Berlusconi is a sideshow, the name we whisper to each other is “Trichet”. From 2004 to 2011 the ECB was headed by Jean-Claude Trichet, ex of the French Treasury, more German than the Germans. After 2009 as the news of the Greek fiscal disaster broke, the European bond markets wento into panic mode and Trichet began a brutal game of cat and mouse. Between 2009 and 2011, Trichet intervened in the bond market to help, only when he thought he had compliance with austerity. When he thought they were uncooperative, he withdrew. In the summer of 2011, he even made direct suggestions to his Italian counterparts in Rome, as to how Italy should be governed. It was this cat and mouse game that drove the bond markets crazy and exposed Italy to a violent squeeze. When Mario Draghi took over the ECB at the end of 2011 and declared “whatever it takes”, the pressure on Italy, gradually eased. It is that starring role that has made Draghi into the towering figure in European politics that he remains today. So now you see why voices in London hush when it comes to the Bank of England. “The bond market” isn’t an irresistible objective force like the weather or an avalanche. It can appear like that. But that depends on the way it is being handled, or not handled by the central bank. Which is why the silence about the Bank of England in London right now is so significant. If you think this all sounds a bit fishy, coming from a left-liberal Keynesian like myself, well, let me introduce you to Robin Brooks, who, to put it mildly, plays on a different quidditch team to me. Here, from the position of a fiscal hawk is Robin’s celebratory account of the Bank of England’s role since 2022; In October 2022, at the height of the bond market blow-up in the UK, something incredible happened. Governor Andrew Bailey told British pension funds the Bank of England would end its support program for the country’s fragile gilt market, drawing a line under how much help the central bank was willing to give to exposed pension funds and - implicitly - the government. By the end of that week, Kwasi Kwarteng - the finance minister - had resigned. Prime Minister Liz Truss would soon follow. This episode is so incredible because it contrasts with what happened in the Euro zone earlier that year. Bond markets in Spain and Italy were under pressure amid high inflation and rising interest rates. In the middle of this, Mario Draghi - Italy’s Prime Minister - resigned, compounding pressure on bond markets of high-debt countries on the Euro periphery. Unlike the Bank of England, the ECB caved. It bought Italian and Spanish government bonds in an effort to cap yields and introduced a new tool that signaled to markets it might do such caps more frequently going forward. Faced with pressure on bond markets, the ECB capitulated to political pressure from high-debt countries like Italy and Spain. The Bank of England stood its ground and toppled the Truss government. This kind of thing has long-lasting consequences. It means markets price a higher probability of yield caps in the Euro zone, which keeps Italian and Spanish yields artificially low, while markets feel free to push up UK yields without fear of central bank intervention. As I flagged in yesterday’s post, this means you really can’t compare UK yields to those of other high-debt countries. The UK looks worse, but only because its central bank isn’t interfering with markets. There’s more to this than just that 2022 episode. The Bank of England has also been much more aggressive in its quantitative tightening (QT) than other central banks. If one motivation for quantitative easing (QE) is to lower bond yields - especially longer-dated ones - then it stands to reason QT pushes yields up. The left chart above shows a four-quarter moving average of UK government debt issuance (black line) in percent of GDP and which sectors absorb this issuance, including the Bank of England (blue bars). The right chart above compares the Bank of England’s accumulation or run-off of government bonds (blue line) with that of other central banks, where this blue line is the same as the blue bars in the left chart. The Bank of England was quicker and more aggressive than other central banks in downsizing its bond holdings, so UK yields will have risen more than elsewhere also for this reason, not just because of Governor Andrew Bailey’s remarks in October 2022. Back in October 2025, after a conversation in New York with friends in British politics, my sense of dysphoria was such that I raised the issue of the Bank of England openly in the FT Since 2008, the UK has slid into a deep economic and political predicament. Growth has stagnated to a degree far worse even than in the 1970s. The Tory leadership’s wager on the Brexit referendum spectacularly backfired, leaving the UK isolated from Europe and at the mercy of its special relationship with the US, many of whose political class regard the UK as a basket case. After years of austerity, the Labour party lurched to the left and then back to the centre. The Tory party has been eclipsed by the populist nationalism of Reform. Any British government should be worrying first and foremost about how to restart growth. Instead, Keir Starmer is beset by shades of the gilt market panic triggered by the Liz Truss government in 2022. The debt level is higher than in recent years, but there is no cause for panic. UK debt is at far from critical levels and of long duration. Whether you want to “take back control” or launch progressive economic policy, a democracy dogged by fear of bond market vigilantes is unhealthy. In a country that is a monetary sovereign, this climate points to one thing: a disconnect between the government and the central bank. Since 1997, the independence of the Bank of England has become a sacred cow. But independence is what you make of it. And in the wake of the gilt market crisis of September 2022, relations between the Bank of England and the UK government need a reset. In normal times, there is no doubt that an inflation-targeting independent central bank can serve a country well. But since 2008, the UK and other advanced economies have not had the luxury of such simple problems. To their credit, central bankers around the world have not stood on orthodoxy. After 2008, the US Federal Reserve rescued the global banking system and, through quantitative easing, it stabilised the Treasury market in the face of huge deficits. In Europe, things were trickier. Both the Bank of England under Mervyn King and Jean-Claude Trichet’s European Central Bank played cat and mouse with national governments. This was a high stakes wager that between 2010 and 2012 escalated bond market tension and triggered a disastrous turn to austerity. Shaken by the impact of those shocks, their successors, Mark Carney and Mario Draghi adopted a more protective stance (assuming you were not the government of Greece). Recall that Draghi’s legendary slogan, “Whatever it takes”, was uttered to face down the City of London’s bond vigilantes. In 2015, Draghi launched QE — financial repression by another name. In 2016, Carney used the authority of the Bank of England to stabilise markets following the vote for Brexit, an exemplary demonstration of how central banks can underpin democratic choice, even when those choices are wrong headed. All these were independent central bankers steeped in the best practice of the 1990s, who recognised that historic crises demanded radical action. It was the price surge of 2021-2023 that poisoned the atmosphere. Though the shock came mainly from the supply side, central banks ended up in the dock. Nowhere more so than in the UK. The Bank of England reacted with aggressive normalisation. Faced with a cost of living crisis, the governor called for workers to accept real wage cuts. In early 2022, as gas prices were at record levels and Russia’s army was poised to invade Ukraine, the Bank adopted a stringent programme of quantitative tightening, elevating interest rates. When the Truss government got itself in trouble, the Bank took almost a week to come to the rescue. Rather than enacting a charade of normality, it is time to recognise that in 2025 the UK faces a period of historic transition. To meet this challenge, what is needed is a new concordat with the Bank. This should not ignore inflationary pressures or the long-run trajectory of debt, but should affirm the priority of reviving investment-led growth. One could follow Donald Trump in demanding interest rate cuts. The Bank could shadow the ECB in its commitment to capping Eurozone yields. But the top priority should be to lay the ghost of September 2022. The Bank’s slowing of QT last month was a concession. An immediate and complete end would send the right signal. Such a concordat will not by itself restore sanity to politics, solve the housing problem or rebuild the NHS. But it would help to lift the fear of bond market crisis, which is paralysing the effort by democratic politicians to answer the fundamental questions facing the nation. Now, that call for a new concordat between government and Bank of Englands seems more urgent than ever. The problem is that in October 2025, Starmer still had some authority. Today the government is in tatters. And when you are the “under the harrow” - to echo a phrase of Montagu Norman’s from the 1920s - it is the worst possible time to consider institutional change. To make general arguments at a time of crisis can only seem like special pleading rather than a general argument for long-term change. The same, unfortunately, is also true for the other basic institutional reform that Britain urgently needs i.e. the abolition of the out-dated first past the post electoral system and its replacement by a moderated form of proportional representation. And thirdly - whilst we are saying the quiet parts out loud - Britain needs to reopen the question of EU membership. What the local election results of 2026 show is that this remains a key issue. And what they also show is that there is a clear majority that would favor a return. Until these basic features of Britain’s political economy are addressed the country will carry on its politics as though in a haunted house, governed by governments that lack actual majorities, conjuring up false constraints whilst ignoring the real ones. This one is for DG and MI. I love writing the newsletter. If you enjoy it too and fancy buying me a coffee once a month, you know what to do. Click below! Subscribe
Powell receives an 'A' grade for handling politics as Fed chair, says Jefferies' Richard Fisher
Richard Fisher, former Dallas Fed president and Jefferies senior advisor, joins 'Closing Bell' to discuss Fed Chair Jerome Powell's tenure, the Federal Reserve going forward and much more.
Bessent credits Dem senator with putting 'country before political ideology' in Fed chair confirmation vote
Kevin Warsh Federal Reserve chair nomination confirmed in a 54-45 Senate vote, with Sen. John Fetterman as the only Democrat to cross party lines and vote for confirmation.
1 in 3 Minnesota childcare providers can’t pay themselves, survey finds
A new survey from First Children’s Finance and the Federal Reserve Bank of Minneapolis shows that 2024 improvements in enrollment and business sustainability in the Minnesota childcare business sector have stopped or regressed.
Senate confirms Trump pick Warsh as chairman of the Federal Reserve, following Powell
The Senate confirmed President Donald Trump’s nominee to lead the Federal Reserve, Kevin Warsh, bringing new leadership to the world's most powerful central bank at a fraught moment for the global economy.
VIEW April jobs report shows continued strength
U.S. employment increased more than expected in April while the unemployment rate held steady at 4.3%, pointing to labor market resilience and reinforcing expectations that the Federal Reserve would leave interest rates unchanged for some time.
Fed's Miran hopes Powell staying at Fed is transitional
Federal Reserve Governor Stephen Miran said on Friday that he hopes current central bank Chair Jerome Powell will stay on as a governor only for a short period of time.
US attorney doesn’t rule out continuing to investigate Federal Reserve Chair Powell
US Attorney for the District of Columbia Jeanine Pirro said Sunday that she may reopen a criminal investigation into Federal Reserve Chair Jerome Powell, depending on what an inspector general’s probe uncovers over building renovations at the Federal Reserve.
‘The reality, for better or worse’: Columbia comp sci students and faculty grapple with AI’s disruption of the field
‘The reality, for better or worse’: Columbia comp sci students and faculty grapple with AI’s disruption of the field ‘The reality, for better or worse’: Columbia comp sci students and faculty grapple with AI’s disruption of the field A field that once seemed like a direct path to stable, lucrative work is becoming less certain under AI, students and faculty told Spectator. By Ria Vasishtha and Arjun Menon May 3, 2026 Shanying Liu / Deputy Illustrations Editor Asia Genawi, SEAS ’29, first encountered artificial intelligence during her sophomore year at her high school in Indiana. Back in 2023, policies on AI varied widely—even within the same district—and some schools had no guidance at all. As Genawi began to see the effects of AI trickle into her classroom, she turned to guidance from her home state’s Department of Education, which she said she found “outdated and inaccessible.” Genawi spent the rest of her high school career dedicated to the issue, including writing a 15-page memo exploring varying AI policies across Indiana schools, which she sent to every Indiana state senator and representative whose contact information she was able to find. She later helped draft a bill that would have required public high schools to establish and share their own AI policies with students in an accessible format. But with so many other bills already awaiting referral, hers never made it to committee. When Genawi arrived at Columbia to study computer science, she found that the gaps she had spent years trying to address in Indiana had followed her there. Many students and professors were also grappling with what AI meant for the field. Across Columbia’s undergraduate schools, computer science has become the most popular major—accounting for around 11 percent of degrees awarded in Columbia College, 32 percent in the School of Engineering and Applied Science, and 12 percent in the School of General Studies in 2024. While the number of computer science majors in SEAS grew from 166 to 173 during the 2024-25 academic year, the total number across the three schools fell around 4.5 percent from 393 to 375, driven by declines at Columbia College and General Studies. At Barnard, it has grown to become the second most popular major as of 2025, up from third the year prior. The number of degrees awarded have grown fivefold since 2016. Faculty members and students in the department told Spectator that the surge in the major’s popularity has been driven in large part by its apparent promise of a secure, well-paid career path. However, they noted that the recent rise of generative AI has compromised the sense of stability that once defined the field, even as interest in technical skills among students persists. According to data from the Federal Reserve Bank of New York in 2024, out of 74 majors tracked, computer science had the fifth highest unemployment rate among majors at 7 percent, while computer engineering had the second highest at 7.8 percent. “Anecdotally, people are moving away from CS as a major,” Daniel Bauer, a senior lecturer in the computer science department, said. “They’re still taking some of our classes, right, because they think they need that, but they’re instead majoring in other things.” Bauer described a field that had shifted from what he called a “nerdy outlier discipline” to one that “everyone needs,” a sign that technical skills have become a baseline expectation across industries with the emergence of AI. “A lot of people thought, ‘Oh, it’s a guaranteed path to a stable income. You get a six-figure job right out of your undergrad,’” Bauer said. Now, companies may see AI as a way to reduce demand for entry-level programmers, especially in what he calls “code monkey jobs,” roles where a large number of employees are “just writing out code nine-to-five.” Chris Murphy, a senior lecturer in the computer science department, described the current moment as the convergence of two forces: the downturn of the job market and generative AI coming onto the scene. “Things kind of started to really pick up in 2014, 16,” he said, recalling the years after the weaker 2010 market. Murphy added that this was also a period where “students were getting more experience outside of class than they were inside of class” through internships, jobs, and side projects. Murphy suggested that the earlier momentum helped make computer science feel like both an academic program and a reliable pathway into work. That feeling is harder to sustain now as the industry reconfigures, which is a shift that students are seeing firsthand. Rebecca Yu, SEAS ’27, said that during a recent internship in Big Tech, she saw that “every single tech company was racing to integrate” large language models. She added that her manager said her intern class was the first to complete their assigned projects, which she attributed to the increased efficiency that comes with AI. Frank Liu, SEAS ’29, said that with AI lowering the barrier to coding, companies now expect everyone to write code. “A lot of companies outright say if you’re not using coding in your job, you might get fired for not being productive enough,” Liu said. Yu similarly expressed that students increasingly have to accept AI being a part of industry workflow, adding that many also “make use of it to maximize their productivity.” Richard Li, CC ’28, described a “franticness” among his peers as the pace of change accelerates. He explained how “some new tool” is released regularly, noting that tools rise and fall in prominence within weeks. He has come to believe that he doesn’t need to “match that speed all the time” and keep up with every development. Li has learned that AI tools allow him to “take a breath” and “get back into the loop much easier than before” when he needs to. While some companies specifically target Columbia when hiring, sending representatives to campus career fairs and recruiting large numbers from Columbia, a computer science degree cannot be treated as a static credential, Yu described. “You can’t just get your degree and stop learning after that. You have to always be learning,” Yu said. “That is something you basically have to expect for your job.” AI has not only affected students’ decisions to major in computer science, but also reshaped how the subject is taught. Across departments, faculty members no longer treat work done outside the classroom as a reliable measure of understanding, shifting instead toward in-person exams, quizzes, and attendance checks. While homework once made up as much as 60 to 70 percent of a student’s grade in computer science classes, Murphy said that breakdown has since flipped, with exams and quizzes now accounting for the majority. “The assumption—especially among pessimists—is that they’re using it to do their homework,” Murphy said. “They take the homework assignment. They put it into generative AI. Out comes the solution. Submit solution. The end.” Murphy said that faculty members ranged in their responses from fully prohibiting AI use to actively teaching students how to effectively work with AI. He said he shifted his approach this year after his teaching assistants called his belief that students weren’t using the technology “naïve,” and now permits students to use AI on assignments. His surveys of students in his introductory classes have told a more complicated story than the one so-called pessimists offer: Around 60 to 70 percent of students who reported using AI said they used it to have concepts explained to them, to clarify assignment instructions, to generate test cases, or to create practice questions. “Those are all ways that you might have had a tutor in the past to do that, and now you have this AI essentially as your tutor,” he said. Bauer has taken a different approach, teaching students how to use AI productively without sacrificing the core principles of the discipline. “People who are trained to actually use AI tools productively, while being in charge of designing the overall project, will be very much in demand in the next couple of years,” he said. Over the past year, a working group of computer science faculty has been redesigning the introductory and intermediate programming sequence to integrate generative AI as both a subject and a tool, representatives from SEAS wrote in a statement to Spectator. The effort is “coordinated” across the department, “not course-by-course,” with a systematic assessment of how AI integration is affecting student outcomes underway to shape the next round of changes. The goal, the department explained, is for students to be able to “read, verify, and reason about code, whether they or a model wrote it.” Tony Dear, senior lecturer in the computer science department, is piloting individualized AI feedback in a discrete mathematics course, while a machine learning course is also testing a Socratic AI dialogue system designed to “guide inquiry rather than supply answers,” the statement reads. Beyond individual courses, SEAS funded seven cross-departmental faculty projects in generative AI this past academic year, spanning biomedical engineering, chemical engineering, industrial engineering, and computer science, according to the statement. This phenomenon extends beyond the computer science department. SEAS’ new AI minor, which it announced in November 2025, reflects the University’s attempt to adapt. The minor is specifically designed for noncomputer science majors and aims to provide “essential AI knowledge” while emphasizing practical and responsible use across disciplines, according to the SEAS website. At the center of the minor is AI in Context, a course taught by a team of faculty from the departments of computer science, applied mathematics, philosophy, music, literature, and the Writing Center, the representatives told Spectator. Bauer described it as targeted at students who want to bring AI into fields like economics or biology, rather than as a path into software engineering itself. At the graduate level, SEAS announced a new Master of Science in artificial intelligence in February, with the inaugural cohort starting in the fall. While recognizing how AI has helped them navigate coursework, students also described its rise as isolating, even among members of the Application Development Initiative, one of Columbia’s largest computer science clubs. “As people start to ask AI for questions that they would normally ask students and members, it starts to isolate people” Li said. Alexa Kafka, BC ’27, echoed Li’s sentiment, pointing out that computer science has always been a collaborative discipline with code reviews and pull requests, even as AI makes independent work easier. Despite this, Kafka noted that she hasn’t been to office hours “in at least a year.” Bauer added that faculty are exploring long-term solutions to the assessment problem. “One of the things that we’re trying to do at the department or school level is to maybe move towards computerized testing facilities,” Bauer said, referring to ideas in the department to revitalize computer labs as an alternative to pen-and-paper exams. “We have to accept that this is the reality, for better or worse.” But more exams, students say, does not mean better learning, nor does it reflect how computer science is actually done. “Code is so variable and can be approached in so many directions, there’s never just going to be one correct answer. There can be multiple optimal solutions,” Kafka said. Students also expressed concern that the shift toward exam-heavy grading pulls focus away from the applied, project-based work that better reflects both discipline and industry expectations. ADI has tried to respond more quickly than the curriculum can. Through a vibe coding workshop this past semester, club members said they wanted to help students understand not just that AI exists, but how to use it deliberately. “Vibe coding” refers to the practice of prompting AI to write code for a task or project, and has become widespread enough that ADI felt the gap in formal instruction was worth addressing, according to Sophia Huang, BC ’29. The workshop introduced students to the concept of context engineering, which Shaina Sahu, SEAS ’27, described as not just writing a prompt, but optimizing “the rest of the relevant information that you would feed into the model.” Without that, students said that AI-generated code can fail at scale or introduce difficult-to-detect bugs. Genawi said the shift toward AI has changed what it means to be good at computer science. “I think the shift has kind of gone towards what can you create and what can you do, instead of, what do you know,” she said. Indeed, during ADI DevFest, its annual hackathon, Li said more teams are trying to complete their projects than in years past. While sign-ups have historically outpaced submissions, Li said this is beginning to change because teams “have a tool that completes the vision for them.” While many students see AI as an equalizer that lowers the barrier to entry for coding and technical work, Murphy said it also creates new equity concerns inside the classroom around who can afford stronger tools and who already knows how to use them. “The equity issues I worry about are students who have access to paid versions of things versus free versions of things,” he said. Although popular AI models like ChatGPT and Claude have free versions available, both have paid models that can reach over $100 per month, which output different qualities of code. Murphy also pointed to differences in prior exposure to AI literacy itself. “Students who go to high schools or K-12 education, where they’re taught AI literacy, prompt engineering, context engineering, they understand how to do this, as opposed to students who go to schools who don’t teach that,” he said. “Then they come in, and then they’re somehow expected to know how to use these tools.” For Genawi, those disparities begin long before students arrive on campus. “It’s very interesting to consider how lucky you were geographically,” she said. “To be born where you were is influencing your ability to get access to these spaces.” Students like Yu, though broadly apprehensive about the future of computer science, are not without hope. “I’m optimistic, because I think if you’re truly passionate about CS, there will definitely be a place in the field to do something you want to do,” she said. Senior Staff Writer Ria Vasishtha can be contacted at ria.vasishtha@columbiaspectator.com. Follow Spectator on X @ColumbiaSpec. Staff Writer Arjun Menon can be contacted at arjun.menon@columbiaspectator.com. Follow Spectator on X @ColumbiaSpec. Want to keep up with breaking news? Subscribe to our email newsletter and like Spectator on Facebook. Produced with Spectate by Emily Ta
Business Lookahead: Eyeing oil, US jobs, and European earnings
STORY: From high oil prices and the conflict in the Middle East to U.S. jobs data and corporate earnings, here’s what you need to watch in business and finance in the week ahead.:: Crude and currencyOil prices briefly topped $120 a barrel this week to hit their highest level since 2022 as the war with Iran enters a third month.While the U.S. and Iran face pressure to end a conflict that has shut the Strait of Hormuz, the world watches anxiously as the biggest-ever disruption to energy supplies unfolds.For each week the Strait is closed, keeping oil elevated, the greater the economic risks via higher inflation or weak growth or, for some, both. Oil importer Japan just intervened to prop up a yen that has been weakened by the conflict.A new month is now underway and some traders will be mindful of that old adage, "Sell in May and go away.":: Jobs gyrationsAs the U.S. economy grapples with fallout from the Middle East war, Wall Street's radar turns to Friday's April monthly payrolls report.The U.S. economy likely created 73,000 new jobs, economists polled by Reuters forecast. In March, payrolls increased by 178,000, the most since December 2024, but that followed a sharp decline in February.The U.S. employment data comes amid signs of hawkishness at the Federal Reserve, as Donald Trump pick Kevin Warsh prepares to take over as chair with the U.S. president keen on rate cuts.:: Starmer’s statusThursday's local elections in Britain, usually a non-event for investors, could move markets in a big way, with opinion polls pointing to a heavy defeat for Prime Minister Keir Starmer's Labour Party.A heavy defeat could spark more widespread demands for his dismissal among his own lawmakers and stoke expectations of a successor more willing to run looser budgets. That would bring more bad news for British bonds.::European earningsIt's a big week for European earnings with Shell and Commerzbank among those reporting.On aggregate, profits are expected to grow 3.2% in Q1, according to LSEG I/B/E/S. Under the surface, it's a little bit more complicated. Growth is expected to be driven by just three sectors: financials, tech and energy. The latter is seen as the biggest beneficiary of the Iran war due to higher oil and gas prices.But if the war, and energy surge, persist, the overall outlook for Europe's earnings could turn.
Federal Reserve leaves interest rates unchanged as Powell's chairmanship nears end
Federal Reserve policymakers left interest rates unchanged in April amid concerns about elevated inflation and as Fed Chair Jerome Powell's term as central bank chairman draws to a close.
Trump wants to turn Fed into another 'political animal': Sen. Warren
The Senate Banking Committee will vote on Wednesday, April 29, over whether to confirm Kevin Warsh's nomination as the next chair of the Federal Reserve. This comes on the same day as Jerome Powell's last FOMC meeting as the head of the US central bank. Senator Elizabeth Warren (D-Ma.) — the ranking member of the Senate Banking Committee — speaks with Yahoo Finance Senior Fed Reporter Jennifer Schonberger about her questioning of Warsh, the likelihood that Powell will stay on the Fed's Board of Governors, and her perspective on President Trump's economic agenda.
The ‘Lasting Damage’ of Pirro’s Investigation of the Federal Reserve and Powell
The Trump administration’s attacks on the Federal Reserve have rattled confidence in the central bank’s ability to operate independently before a leadership transition.
Jeanine Pirro drops criminal probe of Jerome Powell
US Attorney for DC Jeanine Pirro said Friday she is closing the criminal probe of Federal Reserve Chair Jerome Powell.
Five Things Learned at Fed Nominee Warsh's Senate Hearing
April 21 (Reuters) - In testimony Tuesday at the Senate Banking Committee, Federal Reserve Chair nominee Kevin Warsh never said if he agrees with President Donald Trump's view that the Fed's policy rate is too high and should be cut. No lawmaker asked him that directly. But Warsh's two and a half ...
Fed chair nominee on 2020 election winner: 'Keep politics out of monetary policy'
Federal Reserve chairman nominee Kevin Warsh said Tuesday when asked who won the 2020 presidential election, "Keep politics out of monetary policy."
Fed chair nominee on 2020 election winner: 'Keep politics out of monetary policy'
Federal Reserve chairman nominee Kevin Warsh said Tuesday when asked who won the 2020 presidential election, "Keep politics out of monetary policy."
Fed chair nominee on 2020 election winner: 'Keep politics out of monetary policy'
Federal Reserve chairman nominee Kevin Warsh said Tuesday when asked who won the 2020 presidential election, "Keep politics out of monetary policy."
Warsh vows to keep monetary policy independent of politics
STORY: :: Fed chief nominee Warsh vows to keep monetary policy independent of politics:: Washington, D.C. / April 21, 2026:: Kevin Warsh, Federal Reserve chief nominee“Monetary policy independence is essential. Monetary policymakers must act in the nation's interest. Their decision is the product of rigor, deliberation and unclouded decision-making. And as Senator Warren said, I do not believe that independence of monetary policy is threatened when elected officials state their views on rates. Fed independence is up to the Fed." // :: Sen. Elizabeth Warren, Ranking Democrat on Senate Banking Committee“So, independence takes courage. Let's check out your independence and your courage. We'll start easy. Mr. Warsh, did Donald Trump lose the 2020 election?”WARSH: “Um, we try to keep politics, if I’m confirmed, out of the Federal Reserve.”WARREN: “I’m just asking you a factual question. I need to know. I need to measure your independence and your courage.”WARSH: “Senator, I believe that this body certified that election many years ago.”WARREN: “That’s not the question I’m asking. I’m asking did Donald Trump lose in 2020?”WARSH: “And I’m suggesting to you in 2020…”WARREN: “I’m suggesting you can’t answer that.”WARSH: “… the Fed had a huge inflation problem, and you certified the election…[crosstalk]… let’s keep the politics out of monetary policy.” //WARREN: "Just one little place where you disagree with Donald Trump.”WARSH: “Well, I do have a disagreement actually, Senator, with the president. I think even this morning, he said that he thought I was out of central casting. I think central casting, I'd look older, grayer, maybe show up here with a cigar of sorts.”WARREN: “Quite adorable. But, you know, we need a Fed chair who is independent. That's the only way we preserve the independence of the Federal Reserve. If you can't answer these questions, you don't have the courage and you don't have the independence.”In a confirmation hearing before the Senate Banking Committee that quickly hinted at major changes to come at a Warsh-led Fed, the 56-year-old lawyer and financier blamed the central bank for an inflation surge in the wake of the COVID-19 pandemic that continues to hurt U.S. households.Warsh's hearing quickly turned contentious. Democratic Senator Elizabeth Warren pressed Warsh on his independence and "courage", saying President Donald Trump had made clear Warsh would be his "sock puppet".
Trump’s Federal Reserve chair pick to face lawmakers at key confirmation hearing
The hearing marks a key hurdle Kevin Warsh must overcome in order to succeed Jerome Powell when his term ends on 15 May
Fed’s Beige Book reveals Iran conflict’s impact on business confidence
Former World Bank President David Malpass discusses economic uncertainty amid the Iran conflict, the state of the Federal Reserve and more on ‘Varney & Co.’
Fed Beige Book Points to Uncertainty and Increased Business Costs - Small Business & Entrepreneurship Council
by Raymond J. Keating – The latest Federal Reserve Beige Book take on the economy pointed to sluggishness and uncertainty, with the Iran war naturally coming into the equation. Specifically, it was reported, “Overall economic activity increased at a slight to modest pace in eight of the twelve Federal Reserve Districts, while two Districts […]
U.S. wholesale prices surged 4% last month during the Iran war
The surge in prices complicates the work of the inflation fighters at the Federal Reserve, who have faced intense pressure from President Donald Trump to lower their benchmark interest rate. But some Fed policymakers are inclined to raise rates instead, as higher energy costs increase the inflation threat.
Federal Reserve battle heats up as Warsh hearing stalls ahead of Powell deadline
Sen. Tim Scott, R-S.C., joins 'Mornings with Maria' to discuss delays in Kevin Warsh’s Federal Reserve confirmation hearing, Jerome Powell’s future, and the fight to pass the CLARITY Act.
Fed's favored inflation gauge remained elevated in February, delayed report shows
The Commerce Department on Friday released the February 2026 PCE inflation report, which showed the Federal Reserve's preferred inflation gauge remained stubbornly high for consumers.
A Look At Penn Entertainment’s (PENN) Valuation After A Market Rally On Easing Macro Concerns
PENN Entertainment (PENN) moved following a broader market rally tied to potential de-escalation in Iran and more reassuring Federal Reserve comments on interest rates, raising questions about how much of the stock reaction is company specific. See our latest analysis for PENN Entertainment. That move sits within a mixed recent pattern, with a 7-day share price return of 7.26% but a 30-day share price return of 4.52% and a 1-year total shareholder return of 3.36%. Longer term performance,...
When legal sports betting surges, so do Americans' financial problems
As online betting has grown in popularity, a new report from the New York Federal Reserve builds on the troubling link between legal sports wagering and financial health.
Under Armour, Kontoor Brands, PENN Entertainment, Deckers, and Carnival Stocks Trade Up, What You Need To Know
A number of stocks jumped in the morning session after investors priced in a potential de-escalation of the conflict in Iran alongside reassuring commentary from the Federal Reserve on interest rates.
Polaris, Callaway Golf Company, Compass, Sphere Entertainment, and Viking Shares Skyrocket, What You Need To Know
A number of stocks jumped in the morning session after investors priced in a potential de-escalation of the conflict in Iran alongside reassuring commentary from the Federal Reserve on interest rates.
New year, new challenges for Minnesota’s hospitality businesses | Federal Reserve Bank of Minneapolis
Businesses experienced declines in profits and customer demand amid a changing economic environment
Business Lookahead: Gauging the war's impact
STORY: From a worrying drop in stocks to a surge in energy prices from the war in the Middle East to key data on jobs and trade, these are the stories to watch in business and finance in the coming week. ::Look Ahead::War impactThe first quarter is ending with financial markets at the mercy of geopolitics.The Iran war has wiped roughly $7 trillion off global stocks since it erupted.With oil prices up nearly 70% year to date, suddenly interest rates are heading up, rather than down, and energy-hungry AI does not look like such a slam-dunk anymore.Meanwhile, gold has plunged 16% after being nearly unstoppable since the start of 2025.We’ll see whether markets roll on or rollover as the second quarter begins.::Job growth in focusThe U.S. jobs report for March comes out Friday.It will offer a crucial view into the economy's health as investors gauge fallout from the energy price surge.Monthly payrolls are seen rising by 48,000, according to a Reuters poll. February's surprisingly weak report caught Wall Street off guard, showing nonfarm payrolls fell by 92,000 while the unemployment rate increased to 4.4%.Uncertainty over the Iran war is also clouding the economic forecasts for the Federal Reserve, with Wall Street pulling back on expectations for U.S. interest rate cuts this year as the oil price surge fuels concerns about rising inflation.Other U.S. data in the coming week includes retail sales for February and reports on manufacturing and services activity.::Chip checkSouth Korea releases its trade data for March on Wednesday.It will provide an early indicator of how the global economy is holding up in the face of the war and the resulting shock to energy prices. Korea's export-heavy economy is a bellwether for global trade and one of the first to report data from the previous month.Its manufacturing fortunes are of even greater interest than usual, not just because of its dependence on Middle Eastern energy imports, but also because its world-leading DRAM chips are of critical importance to the AI sector and currently in short supply too. ::Inflation assessmentAnd flash euro zone inflation for March is due on Tuesday. After long hovering around the 2% mark, higher energy prices are now expected to push headline inflation up, as they did in 2022. The question is, how large and sustained any jump in inflation might be.Early data is not painting a pretty picture. Private sector growth in the euro zone slowed sharply in March, with input costs rising to their highest in more than three years and supply chains being significantly disrupted.Money markets are now heavily pricing in a rate hike which was almost unthinkable before the Iran war.
Fed’s Powell Lauds Volcker Record in Face of Political Pressure
Federal Reserve Chair Jerome Powell on Saturday lauded the policy record of the late Fed Chair Paul Volcker, who raised interest rates and sparked a recession to tame the high inflation that took off during the 1970s.
The insular bubble of caucuses and assemblies
Nearly 30 years ago, then-Federal Reserve Chairman Alan Greenspan coined the term “irrational exuberance” to describe the overheated stock market. That descriptive phrase could also apply to much of the political realm. The hype in politics often grossly exceeds the reality on the ground. In that vein, let’s focus on Colorado’s precinct caucuses held earlier […]
Justice Department probe of Powell could backfire on Trump and keep Fed chair in office
President Donald Trump has for months wanted to remove Jerome Powell as chair of the Federal Reserve. But instead, an investigation by one of his own officials could end up extending Powell's time at the top of the central bank even after his term formally ends May 15.
Federal Reserve holds interest rates steady
Federal Reserve policymakers chose to leave interest rates unchanged at their March meeting amid a softening labor market and uncertainty over the economic impact of the Iran war.
Judge tosses DOJ's subpoenas to Federal Reserve
US Attorney Jeanine Pirro took issue with a federal judge's decision to strike down subpoenas sent to the Federal Reserve.
Judge quashes Justice Department subpoena of Federal Reserve
Judge James Boasberg said that a "mountain of evidence suggests" that the purpose of the subpoenas was simply to pressure the Fed to cut its key interest rate
Federal judge quashes Justice Department subpoenas of Fed Chair Jerome Powell
A federal judge has quashed subpoenas the Justice Department had issued against Federal Reserve Chair Jerome Powell, according to court documents unsealed Friday.
Fed's favored inflation gauge remained stubbornly high in January as consumer price pressures persist
The Commerce Department on Friday released the January 2026 PCE inflation report, which showed the Federal Reserve's preferred inflation gauge remained stubbornly high for consumers.
Fed survey reveals Trump’s tariff gut punch to the backbone of the U.S. economy: small business
Firms are starting to pass costs on to their customers, and they're less hopeful about hiring too, according to the Federal Reserve.
Fed report highlights economic effects of ICE surge as businesses struggle to replace workers at home
Immigration enforcement operations and a struggling farm economy had a dampening effect on businesses in Minnesota and the Upper Midwest, according to the latest Beige Book report from the Federal Reserve.
White House formally nominates Kevin Warsh to be next Federal Reserve chair
Warsh's nomination, which was initially announced Jan. 30, was forwarded to the Senate Wednesday, where it will be taken up by the Senate Banking Committee.
How The Federal Reserve Works And Why It Matters To Your Business
From the ongoing shifts in interest rates to President Trump’s nomination of Kevin Warsh as Fed Chair, and disagreements over where policy should go next,
Kevin Hassett says Fed researchers should be ‘disciplined’ over report that Americans are paying tariffs
National Economic Council Director Kevin Hassett said Wednesday that researchers at the New York Federal Reserve who produced a study finding American businesses and consumers are shouldering 90% of the cost of President Donald Trump’s tariffs should be “disciplined.”
Trump admits initial mistake in Federal Reserve chairman decision making
President Donald Trump discusses his decision-making process in selecting Kevin Warsh as his nominee for Federal Reserve chairman on ‘Kudlow.’
Is the PPPLF Still Encouraging Small Business Lending?
The Federal Reserve designed its Paycheck Protection Program Liquidity Facility to ease liquidity issues and support small business lending during the pandemic. The liquidity facility allowed banks to pledge Paycheck Protection Program loans as risk-free collateral during the beginning of the COVID-19 pandemic. Analysis shows that, although the program has essentially ended, the positive effects on small business lending have persisted, particularly among small banks with lower liquidity, in keeping with the intent of the program.
Poll: Most want Supreme Court to rule against Trump on tariffs, Fed control
Large majorities of the public want the Supreme Court to rule against Trump's tariffs and against his attempt to fire Lisa Cook from the Federal Reserve.
Trump jokes about suing his Federal Reserve nominee Warsh at elite Washington dinner
President Donald Trump joked that he might sue his newly selected Federal Reserve chair nominee, Kevin Warsh, over lowering interest rates in a speech to an elite group of Washington’s power set on Saturday night, according to a person who attended the dinner.
Warsh's challenge: Navigating Fed independence and Trump's demands
Kevin Warsh has sought the job of Federal Reserve chair, off and on, since President Donald Trump first considered him for the position nearly a decade ago
Trump nominates Kevin Warsh to succeed Jerome Powell as Federal Reserve chair
The new Federal Reserve chair will step in as the world’s most powerful central bank faces scrutiny over interest rates and rising prices affecting Americans.
Trump to announce Federal Reserve chair nominee today; French economy slows
Rolling coverage of the latest economic and financial news
Trump expected to nominate Kevin Warsh for Federal Reserve chair
President Donald Trump is expected to announce Friday his intent to nominate Kevin Warsh to be the next Federal Reserve chair, according to two people involved in the process.
Trump reveals when he will announce the next Fed chair
President Trump says he'll announce Jerome Powell's replacement as Federal Reserve chair Friday morning, escalating his ongoing criticism of monetary policy decisions.
US Federal Reserve holds interest rates steady despite political pressure
The central bank will maintain rates at 3.5 to 3.75 percent and warned of 'elevated' economic uncertainty.
Fed holds interest rates steady, pausing rate cuts amid economic uncertainty
Federal Reserve policymakers left interest rates unchanged at its January meeting after cutting rates at its three prior meetings amid uncertainty over the labor market and inflation.
Colorado is shrinking — time for our elected officials to take notice
By Jon Caldara Something strange is happening in Colorado — strange enough that the political class should notice. People are leaving Colorado. After years of being one of the fastest-growing states in the nation, net in-migration has stopped and may be reversing. According to Federal Reserve Bank data, the last time Colorado’s population took a […]
Fed's Cook doubles down on her role after SCOTUS wraps
Federal Reserve Governor Lisa Cook vowed to uphold the principle of 'political independence' in her role, despite Trump's effort to fire her
Takeaways: Supreme Court signals it will defy Trump to keep Lisa Cook on Federal Reserve
The Supreme Court signaled deep skepticism Wednesday that President Donald Trump had the authority to remove Lisa Cook from the Federal Reserve, with several conservative justices joining their liberal colleagues in posing pointed questions of the lawyer defending the president.
Supreme Court to hear arguments for Trump’s attempt to fire Lisa Cook from her role at the Federal Reserve
Federal Reserve Inquiry Clouds Trump’s Supreme Court Bid to Oust Lisa Cook
The court is set to hear Ms. Cook’s case challenging her firing as the Justice Department investigates Jerome H. Powell, the central bank chair.
How the Trump Justice Department is targeting his perceived opponents : The NPR Politics Podcast
From the NPR podcast Consider This:The Department of Justice is once again at the center of the news.At least five federal lawmakers say they have been contacted for questioning from federal prosecutors. So has the chairman of the Federal Reserve.And in Minnesota, career federal prosecutors resigned after being asked to investigate not the shooting that killed Renee Macklin Good, but her widow’s potential ties to activist groups.NPR senior political editor and correspondent Domenico Montanaro and NPR justice correspondent Carrie Johnson break down the latest in Justice Department news.
Will the Supreme Court continue to protect the Federal Reserve from Donald Trump?
Last year, the court said the Fed is shielded from political manipulation because it is “uniquely structured” with a “distinct historical tradition.”
Will the Supreme Court let Trump take control of the Fed?
Days after the revelation that the Justice Department is investigating Federal Reserve Chair Jerome Powell, the Supreme Court will debate President Trump’s ability to remove the Fed’s board members.
Trump says he never offered Fed chair job to JPMorgan's Dimon
U.S. President Donald Trump on Saturday said he never offered to nominate JPMorgan CEO Jamie Dimon for the job of Federal Reserve chair, contradicting a report this week.
A Top Fed Official Says the Trump Administration’s Threats Are ‘About Monetary Policy’
Neel T. Kashkari, president of the Federal Reserve Bank of Minneapolis, defended Jerome H. Powell, the Fed chair, in an interview. He also said interest rates should be held steady this month.
President Trump tries to refocus on the economy : The NPR Politics Podcast
President Trump is giving a speech about the economy Tuesday in Detroit after weeks of drifting away from the subject. We discuss how the White House is responding to voters’ concerns about stubbornly high prices and Trump’s growing pressure campaign against the Federal Reserve. This episode: voting correspondent Miles Parks, White House correspondent Deepa Shivaram, and chief economics correspondent Scott Horsley.This podcast was produced by Casey Morell and Bria Suggs, and edited by Rachel Baye.Our executive producer is Muthoni Muturi.Listen to every episode of the NPR Politics Podcast sponsor-free, unlock access to bonus episodes with more from the NPR Politics team, and support public media when you sign up for The NPR Politics Podcast+ at plus.npr.org/politics.
Live updates: Trump speaks about US economy in Detroit
President Donald Trump will address the Detroit Economic Club as his justice department investigates Federal Reserve chair Jerome Powell.
Pirro says Federal Reserve ignored US attorney outreach on Powell testimony, alleged cost overruns
Federal Reserve independence under fire as Justice Department issues grand jury subpoenas tied to alleged cost overruns and Chair Powell’s congressional testimony.
Thune warns DOJ's probe of Fed Chair Powell 'better be real' and 'serious' amid political backlash
Senate Majority Leader John Thune, R-S.D., acknowledged that planned blocks against future Federal Reserve nominees would cause issues and remained adamant that the central bank stay independent.
Powell's Made This Political: Sen. Marshall
Senator Roger Marshall (R-KS) shares his thoughts on the DOJ serving the Federal Reserve with subpoenas and whether or not he agrees with some of his GOP colleagues who will oppose any Federal Reserve nominations with this going on. Senator Marshall voices his support for President Trump's credit card interest rate cap proposal and discusses what's next on health care from the Senate. He speaks with Joe Mathieu and Julie Fine on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)
DOJ investigation of Powell sparks backlash, support for Fed independence
The Trump administration’s criminal investigation of Federal Reserve Chair Jerome Powell, which Powell said was an attempt to exert more control over the Fed.
Criminal Inquiry of Powell Draws Backlash From Some Republicans
Three Republican senators offered a rare rebuke of the Trump administration’s tactics, criticizing an investigation of the Federal Reserve chair.
Trump to interview BlackRock's Rieder for Fed chair role, Fox Business reports
U.S. President Donald Trump will interview BlackRock Inc's chief bond investment manager Rick Rieder on Thursday as a candidate to lead the Federal Reserve, Fox Business Network reported on Monday, citing unidentified administration sources.
Dollar weakens after US prosecutors launch criminal investigation into Federal Reserve chair Jerome Powell
Rolling coverage of the latest economic and financial news
Federal Reserve Chair Powell under criminal investigation over HQ renovation, report
U.S. prosecutors investigate whether Fed Chair Jerome Powell allegedly mischaracterized renovation details during Senate Banking Committee appearances.
Federal Prosecutors Are Said to Have Opened Inquiry Into Fed Chair Powell
The investigation, which centers on renovations of the Federal Reserve’s headquarters in Washington, signals an escalation in the long-running clash between President Trump and the chair.
Fed should deliver big rate cuts this year, Miran tells Fox Business
Federal Reserve Governor Stephen Miran, whose term at the U.S. central bank ends later this month, said on Tuesday aggressive U.S. interest rate cuts are needed this year to keep the economy moving forward.
Economic anxiety has Texas manufacturers and retailers on edge
The latest tranche of Texas Business Outlook Surveys from the Federal Reserve Bank of Dallas was released the last week in November. The outlook self-described ...
Inflation remained elevated in November as Fed considers pausing interest rate cuts
The Bureau of Labor Statistics released the November consumer price index which showed that CPI inflation remained well above the Federal Reserve's 2% target rate.
Hassett says Federal Reserve can reject Trump's views if he is chair
A leading candidate to be President Donald Trump’s choice for Federal Reserve chair says he would present the president’s views to Fed officials for their consideration but they could reject them if they chose when making decisions on interest rates
Hassett says Federal Reserve can reject Trump's views if he is chair
A leading candidate to be President Donald Trump’s choice for Federal Reserve chair says he would present the president’s views to Fed officials for their consideration but they could reject them if they chose when making decisions on interest rates.
DC Wrap: A third judge agrees to unseal records from Epstein investigations
Also, Trump says the U.S. has seized an oil tanker off the coast of Venezuela, and the Federal Reserve cut its benchmark interest rate
Fed meeting updates: Federal Reserve to decide on interest rate cut at final 2025 meeting
The Federal Reserve is nearing a decision on interest rates. Jerome Powell could announce a third consecutive rate cut at December's Fed meeting.
European markets set for soft open as investors await Fed decision
European shares are expected to open mostly flat on Tuesday as global investors await the U.S. Federal Reserve's monetary policy update.
Fed's favored inflation gauge shows consumer prices remained elevated in September
The Commerce Department's delayed September PCE inflation report showed that inflation remained well above the Federal Reserve's 2% target ahead of a central bank decision next week.
Wells Fargo Adds Key Front-End Traders to Grow Markets Business
Wells Fargo & Co. hired two short-duration traders from Deutsche Bank AG, part of efforts to expand its markets business after the Federal Reserve lifted an asset cap on the bank earlier this year, according to people familiar with the matter.
3 Decisions That Will Define Politics This Week
Three major political decisions that could affect the markets are in focus this week. One is domestic; the other two are geopolitical. At home, investors are awaiting news of President Donald Trump’s choice for the next chair of the Federal Reserve. He has declined to give credence to a report by B