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Federal Reserve to announce decision on interest rates ahead of midterms
During an appearance earlier this month, Federal Reserve Chair Kevin Warsh was coy about which way the decision might go.
Federal Reserve expected to hold interest rates steady in last decision before midterm elections
With midterm elections days away, the Federal Reserve faces a high bar for an October rate hike despite hotter-than-expected September CPI data.
Annual survey available for business owners
The Federal Reserve's 2026 Small Business Credit Survey aims to gather insights into how small businesses seek financing and the challenges they face. The…
Lawyers for Federal Reserve's Lisa Cook say White House hearing set up by Trump is 'biased'
Federal Reserve governor Lisa Cook's lawyers say that a committee set up by the White House last week to investigate an accusation against her is “demonstrably biased," though they did not close the door on the possibility that she would appear before the panel.
Fed rate hike not likely to impact NH economy
Interest rate hike? What interest rate hike? The move by the Federal Reserve to hike a key interest rate by a quarter of a percentage point (0.25%) has provoked a big yawn in the New Hampshire economy.
St. Louis Fed: New data shows apprenticeships increasing
The number of apprentices in Arkansas has more than doubled over the past decade, rising to about 10,000 apprenticeships in 2025. Federal Reserve Bank of St. Louis staff discussed the...
Trump establishes committee to investigate Federal Reserve's Lisa Cook in latest effort to fire her
The inquiry will include a hearing at the White House Nov. 5, President Donald Trump said in a written memo, that Cook “shall” attend to answer questions from the committee.
City of Laurel Encourages Local Businesses to Participate in 2026 Small Business Credit Survey
(LAUREL, MD) The City of Laurel’s Department of Economic & Community Development is encouraging local business owners and key financial decision makers to participate in the Federal Reserve&
Trump escalates effort to fire Federal Reserve governor Lisa Cook
A commission that will report to the president will assess the mortgage fraud allegations against her and consider evidence from a hearing next month.
Trump establishes committee to investigate Federal Reserve's Lisa Cook
The inquiry will include a hearing at the White House on Nov. 5
Trump establishes committee to investigate Federal Reserve's Lisa Cook
The inquiry will include a hearing at the White House on Nov. 5
Trump to hold inquiry into Fed's Lisa Cook at White House
WASHINGTON, Oct 9 (Reuters) - US President Donald Trump will summon Federal Reserve Governor Lisa Cook to the White House for a hearing on his administration's allegations she made false
Trump launches new effort to oust Fed Governor Lisa Cook
President Donald Trump is doubling down on efforts to oust Federal Reserve Governor Lisa Cook, forming a “committee of inquiry” centered around alleged false statements she made “in connection with one or more mortgage instruments,” according to a statement released by the White House on Friday.
Trump launches new effort to oust Fed Governor Lisa Cook
(CNN) — President Donald Trump is mounting a fresh offensive in his battle to oust Federal Reserve Governor Lisa Cook, forming a committee of his own appointees to investigate allegations
Trump establishes committee to investigate Federal Reserve's Lisa Cook in latest effort to fire her
President Donald Trump opened another chapter in his effort to fire Federal Reserve Governor Lisa Cook Friday by establishing a “committee of inquiry” to investigate allegations that she made false statements in mortgage applications.
Euro pummelled by France's debt burden; stocks mixed
By Rae Wee SINGAPORE, Oct 5 (Reuters) - Asian stocks made brisk gains on Monday as investors pared back expectations of a Federal Reserve rate hike this month, while the
Trump economic advisor says 'it's time' for Powell to leave Fed, calls extended tenure 'unprecedented'
Kevin Hassett says Jerome Powell should leave the Federal Reserve Board, calling his continued presence "completely unprecedented" after his term ended.
How Americans’ Financial Health Is Faring In The “K-Shaped” Economy
Hey all, Jason here. Money20/20 is still two weeks away, but I’ve already started packing (not procrastinating for once!). My calendar is already filling up with various sessions I want to catch, meetings, and of course happy hours, dinners, and other side events. If you’ll be in Vegas and want to catch up, let me know by replying to this email, and we can try to find a time amidst the chaos of the Venetian. A big if not totally unexpected piece of news dropped on Friday: the Independent Community Bankers of America, a trade group that represents smaller U.S. banks, filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing that the regulator’s move to grant trust bank charters to firms seeking to use them to conduct substantial non-fiduciary activities exceeds the authorities granted to the OCC by Congress. I haven’t had time to fully digest the legal filing or speak to folks in my network about it, but you can expect to see coverage and analysis on it in next week’s newsletter. Subscribe or Support by Upgrading The NerdCon agenda just dropped. It’s stacked. Partner content: Nubank built an AI-first bank. Chime built its own banking core. Figure and Valon are rebuilding the mortgage stack. At NerdCon, you’ll hear from the people behind those bets: what they chose, what they learned, and what they’re still figuring out. The agenda is live, with leaders from Nubank, Chime, OpenAI, Remitly, Mercury, Figure, Valon and more. Follow the mainstage conversations, bring the problem your team is wrestling with to a hands-on workshop, or pull up a chair at a roundtable. Pick your quests. Meet us in San Diego, November 18–20. Fintech Business Weekly readers save 20% with code FBW20. Explore the Agenda Things To Know & Other Good Reads Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements (Federal Reserve Board of Governors) FDIC Announces Conclusion of Independent Monitorship (FDIC) Modernizing Financial Regulation: Initial Observations from eSLR (Fed Vice Chair for Supervision Michelle Bowman) The Data Version of Godzilla versus Kong: FRED Takes on AI (Fed Governor Christopher Waller) Financing the AI buildout (Brookings) Q3’26: Rules for Banks but Not for Crypto (Fintech Takes Banking) The Inevitability of Local Stablecoins (Lombard Notes) Delusions of AI Governance: The Human-in-the-Loop Comfort Blanket (Fintech Snark Tank) Stripe agrees to acquire Parafin to expand revenue opportunities for platforms and help small businesses grow (Stripe) Listen: Fighting Fraud in the Age of AI, with SEON’s Tamas Kadar (Fintech Business Weekly) How Americans’ Financial Health Is Faring In The “K-Shaped” Economy If there is one overarching theme across the economy and politics in the U.S. at the moment, it’s “affordability.” The term is vague enough to encompass a panoply of factors shaping Americans’ day-to-day lives: rising costs for the hallmarks of being “middle class,” including healthcare, housing, childcare, and education, inflation and rising interest rates, and a job market with the specter of AI hovering over it. At the same time, policy shifts under the Trump administration have resulted in reduced subsidies to those who get health insurance under the Affordable Care Act and new restrictions on qualifying for Medicaid and SNAP, the impacts of which have yet to be fully felt. These factors are contributing to declining consumer confidence and general dissatisfaction with the economy, despite continuing GDP growth and stock market records. This divergence is encapsulated in the idea of the “K-shaped” economy, in which a small proportion of Americans have seen their wealth balloon, while the majority of American households struggle to preserve the lifestyle they have. Perhaps the greatest determinant of which branch of the “K” a household is on is whether their wealth and income are primarily derived from employment vs. from assets. Nearly two decades of low interest rates and, more recently, elevated rates of inflation have benefited asset owners, while those whose income is primarily or solely derived from labor have largely seen real purchasing power stagnate or decline. This is reflected in recent Bureau of Labor Statistics data showing that labor share of U.S. GDP — the fraction of economic output that accrues to workers as compensation in exchange for their labor — dropped to just 52.8% in Q2 2026, the lowest since the BLS began keeping records. In 1947, approximately 2/3rds of economic output accrued to workers; even as recently as 2001, labor’s share of GDP was 64.1%. Against this backdrop, we’ve seen the rise of more credit and credit-like products: cash advance apps, “no-fee” overdraft, earned wage access, and buy now pay later, which are often used as small-dollar short-term borrowing mechanisms to meet immediate consumption needs or pay other bills (eg utilities, cell phone, other debt payments). With the markers of a middle class existence and, increasingly, basic financial stability seemingly out of reach for many, it should be no surprise there’s been an increase in “financial nihilism,” something industry peers like Alex Johnson and Frank Rotman have discussed and analyzed the roots of. The explosion of gambling and gambling-adjacent products and services — often marketed under the guise of being an “investment” — is inextricably intertwined with the rise of financial nihilism. Crypto, sports betting, and, more recently, prediction markets offer an escape or even hope of sorts, like a contemporary, digital version of a scratch-off lottery ticket, while leaving the overwhelming number of people who use such products worse off. Share of Households That Are Financially “Vulnerable” Ticks Up The Financial Health Network’s 2026 Financial Health Pulse® report adds context on how American households are faring. (I linked to this report in last week’s newsletter, but wanted to take time to further unpack the data in the report this week.) The Financial Health Network publishes the report annually, providing insight into how Americans’ financial circumstances are changing over time. The 2026 report is derived from a survey fielded in April and May 2026. The report leverages survey responses to assess indicators of financial health across spending, saving, borrowing, and planning/protecting and to determine a zero to 100 “FinHealth” score. Those with scores between 0 and 39 are considered “Financially Vulnerable,” consumers with scores ranging between 40 and 79 are defined as “Financially Coping,” and those with scores of 80 to 100 are “Financially Healthy.” The report found that moderate improvements in 2025 were reversed, with the share of respondents considered financially “vulnerable” rebounding to 17%. The longitudinal data reflect the impact of pandemic-era programs, like expanded unemployment, cash stimulus payments, and pauses of federal student loan payments. The positive impacts of those programs, as reflected in the Financial Health Pulse reports, had largely disappeared by 2023. While pandemic-era inflation — to be fair, in part caused by the various support and stimulus measures — had come down from as high as 9% in 2022, it has rebounded since the start of Trump’s second term, with tariffs and energy market disruptions owing to the war in Iran pushing prices back up. Specific indicators in the survey that deteriorated from 2025 to 2026 include the share of respondents spending less than their income over the past 12 months, the share paying all bills on time over the past 12 months, the share that have a manageable amount or no debt, the share that are “moderately” or “very” confident their insurance is adequate to cover them in an emergency, and the share that “somewhat” or “strongly” agree that their household plans ahead financially. Unsurprisingly, lower- and moderate-income households are more likely to struggle to pay their bills on time and have any funds leftover to save. The share of low-income households whose income exceeded their spending dropped from 35% in 2025 to 31% in 2026, while the share of upper-income households whose income exceeded expenses remained unchanged at 63%. Households with student loans or revolving credit card debt reported having “a bit more” or “far more” debt than was manageable at rates far higher than those not carrying these types of debts. The share of those with student loan debt indicating their debt load was too high to manage increased from 50% in 2025 to 55% in 2026, while the share of those with revolving credit card debt saying the same ticked up from 51% in 2025 to 54% in 2026. Households that had student loans were markedly more likely to be financially “coping” or “vulnerable” vs. those without student loans. In 2026, 27% of households with student loans were considered financially vulnerable, a jump of 6% points vs. 2025. Households without student loans saw just a 1% point increase (not statistically significant) in those considered financially vulnerable. Households’ perception of the affordability of categories of goods and services paints a stark picture, with less than one-fourth considering higher education affordable, about a third deeming childcare affordable, and less than half viewing healthcare as affordable. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Democratic Senate Report Highlights How Iran Uses Tether to Evade U.S. Sanctions Iran uses stablecoins, specifically Tether, to evade sanctions, fund regional proxies, and to purchase military drones, a report released last week by the Senate Permanent Subcommittee on Investigations says. The report was authored by committee ranking member Senator Richard Blumenthal (D-CT) and the minority staff. Crypto and stablecoin proponents will often push back on criticism that criminals make use of these assets by arguing that, on an absolute dollar basis, far more illicit funds flow through traditional banking systems and payment rails than via crypto and stablecoins. And while that is likely true, it elides the reality presented in news story after news story: whether state actors — Russia, Iran, North Korea — or criminal groups, those looking to engage in illicit transactions increasingly favor stablecoins and, specifically, Tether (USDT). The report from the Senate Permanent Subcommittee on Investigations released last week adds context to how Iran uses Tether has a lynchpin in its shadow banking system. The report analyzed 846 wallets that have been sanctioned or targeted for seizure, finding that 84% of them transacted exclusively or primarily in Tether. The ability to create near limitless, anonymous wallets and to move funds effectively instantaneously and irreversibly have made crypto a favored financial mechanism for bad actors. Stablecoins solved key drawbacks of bitcoin, namely, the original cryptocurrency’s highly volatile value in dollars. And while Tether (the company) has the technical ability to “freeze” or destroy funds, the company is often limited and reactive in its approach to doing so, the Senate report argues. Tether, which is nominally based in crypto-friendly El Salvador, “has stated that its compliance with OFAC sanctions is ‘voluntary’ and that it follows ‘OFAC guidelines,’” the Senate report says. Owing to these favorable attributes, Tether “became a primary cryptocurrency for Iran, Hamas, Hizballah, and the Houthis beginning in 2023 and has expanded in scale since,” according to the report. Tether’s role in Iran’s shadow banking system, the report says, is enhanced by crypto exchanges like Bybit, Kyrrex, OKX, Gate, and Binance, and through “over the counter” exchanges and hawala networks. The consequences of these financial flows aren’t hypothetical. The Senate report links Tether as a funds transfer mechanism to Iranian proxies in the region, including Hizballah, the Houthis, and Hamas. Tether has also been used to make payments to secure components necessary to manufacture drones, the report says. The report concludes by arguing that “[s]tablecoin issuers with a significant nexus to the United States, particularly those that offer dollar-denominated stablecoins, should be subject to American sanctions law rather than being allowed to hide behind foreign jurisdictions.” Stablecoin issuers like Tether must be held accountable for repeated failures to prevent illicit finance and sanctions violations by law enforcement, the Department of Justice, the Securities and Exchange Commission, and OFAC, the report argues. [Paying Subscriber Exclusive] OUSD Goes Live, Make Your Own Neobank, U.S. Sanctions Russia’s A7 Network As “Transnational Criminal Organization” OpenUSD, the stablecoin issued by the Open Standard consortium that includes Stripe, Visa, Mastercard, core providers, crypto firms, and numerous banks, went live last week. Social commerce platform Whop raised eyebrows in fintech by offering creators on its platform the ability to launch their own neobanks, which the company describes as “great businesses that are easy to run,” in just 15 minutes. And OFAC and FinCEN target Russia’s “shadow banking” A7 Network — more on these stories after the paywall.
Hawai’i Small Businesses urged to complete Federal Reserve Credit Survey by Nov. 13
The Department of Business, Economic Development and Tourism is encouraging Hawai‘i small businesses to take part in the Federal Reserve’s 2026 Small Business Credit Survey, now open through Nov. 13.
How are higher interest rates and rising prices affecting you?
Last month, the Federal Reserve raised interest rates for the first time in more than three years, as it tries to bring inflation under control. But higher rates make borrowing more expensive for consumers and businesses — one reason mortgage rates have climbed to a three-year high in recent weeks.
The final verdict is in for the Fed's troubled renovation and Jerome Powell
The Federal Reserve's inspector general released its findings from an investigation into the cost overruns in a Fed renovation project, finding no administrative misconduct.
Powell did not break the law with expensive Fed renovations that incensed Trump, report finds
An inspector general review of the Federal Reserve’s headquarters renovation found no sign that then-Chair Jerome Powell broke the law or committed misconduct in his management of the costly project, even as it sharply criticized him and the bank’s board for allowing the price tag to balloon beyond $2 billion.
Fed's favored inflation gauge cooled in August but remained elevated
The Commerce Department reported that PCE inflation remained elevated in August at a level well above the Federal Reserve's 2% target.
The Beclowning of Scott Bessent
One iron law of current politics is that nobody who associates themselves with Donald Trump emerges with a shred of credibility. For some, that’s not a big loss — it’s not as if anyone respected Pete Hegseth even before he decided that the key to military success in an age of drones and AI was more testosterone. For others, however, the costs are real. I’m old enough to remember when Marco Rubio was widely considered a reasonable, thoughtful politician. Right now, however, my candidate for the biggest loser is Scott Bessent, the Secretary of the Treasury. Bessent started out with significant reputation to lose: When Trump selected him, this was the headline in the Financial Times: Jason Furman, Barack Obama’s chief economist, described him as a “credible Treasury secretary who has a real understanding of the global economy”. But Bessent has now transformed himself into the Baghdad Bob of bonds. Three weeks ago, after intervening (for reasons that remain somewhat unclear) to support the Japanese yen, Bessent boasted about his ability to move markets and dared investors to bet against his, declaring “I am the house now.” He then tried to push long-term interest rates down, buying 30-year U.S. Treasuries in a move some have compared to paying down part of your mortgage by running up your credit card balance. Here’s how that’s going so far: To get some perspective on how high interest rates have gone, here’s a longer-term perspective: We haven’t seen interest rates this high since the fading days of the dotcom bubble. Why are interest rates hitting new records? The backdrop, as I argued in last Sunday’s primer, is the huge AI-driven investment boom; more on that next week. But the immediate cause of the latest interest rate spike was Trump’s rejection of an Iranian proposal to end the war. This rejection sent crude oil prices, which for a while had fallen considerably, shooting back up: It’s notable, by the way, that oil prices remain high even though a significant amount of oil is now being shuttled through the Strait of Hormuz by night, on smaller vessels. That’s an interesting story, which has a lot to do with the fact that oil from the Hormuz shuttle runs must be transferred to larger vessels before being shipped to markets in Europe and Asia; around 15 percent of the world’s large crude carriers are now parked off the coast of Oman, waiting to be tanked up. This is creating a shipping crunch: But that’s a topic for another day. For now, the point is that with oil still high and refined products, especially diesel, still close to record levels, inflation will remain elevated. And this in turn means that the Federal Reserve will keep short-term interest rates high, an expectation that is feeding into longer-term rates. Hence Bessent’s bond-market humiliation. The truth is that Bessent might not have been able to get interest rates down even in the best of circumstances. But he certainly won’t get anywhere as long as Trump keeps believing that he can somehow convert his Iran debacle into a triumphant victory. And Trump will keep believing that as long as he is surrounded by sycophants who tell him what he wants to hear. Sycophants like, for example, Scott Bessent, who is predicting the imminent collapse of the Iranian economy, possibly within two weeks. Bessent is right to say that the embargo on Iranian oil exports is placing the country under great economic strain. But his implicit prediction that this will quickly produce a deal that Trump can call victory looks no more plausible than his boasts about the bond market. The big question now is, why would anyone with a reputation to lose work for Donald Trump? As the beclowning of Bessent shows, joining the Trump team won’t just damage your reputation; it will utterly destroy it.
Dallas Fed gives updates on manufacturing, service and energy sectors
This week's business events include reports from the Federal Reserve Bank of Dallas on some of state's biggest industries.
Business activity at over five-year high; inflation pressures building
The Atlanta Federal Reserve's gross domestic product tracking estimate is running at a 5.1% rate.
Fed’s Goolsbee says road to 2% inflation may not be painless
Federal Reserve Bank of Chicago President Austan Goolsbee warned the central bank cannot ignore repeated and persistent supply shocks, and must respond in a way that may cause economic hardship.
Most firms keep cash from tariff refunds, Fed study finds
The bulk of companies receiving billions in tariff refunds are mostly holding on to the cash, according to a survey released Monday by the Federal Reserve Bank of Atlanta. Of
The Fed Moved. The Borrowing Math Changed for Businesses.
Citizens’ Mark Valentino and Eric Merlis unpack the business implications of the Federal Reserve’s latest rate hike, examining what the new borrowing environment means for investment and financial …
Fed's Kashkari says inflation is still too high across US economy, in Fox News interview
Minneapolis Federal Reserve President Neel Kashkari said on Sunday that inflation is too high across all sectors of the US economy, not just in rising oil prices.
Federal Reserve rate hike reflects new world of sticky inflation and faster growth
President Donald Trump has renewed his attacks on the Federal Reserve after it hiked its benchmark interest rate Wednesday, but the Fed matters less than broader economic trends when it comes to longer-term borrowing costs, economists say.
Fed rate hike reflects new world of sticky inflation, faster growth
President Donald Trump has renewed his attacks on the Federal Reserve after it hiked its benchmark interest rate Wednesday, but the Fed matters less than broader economic trends when it comes to longer-term borrowing costs, economists say
Why BofA is calling for 2 more rate hikes in 2026
Bank of America thinks the Federal Reserve has just kicked off a hiking spree heading into the end of the year.
Kevin Warsh just defied Donald Trump. Now what?
The Federal Reserve’s first rate hike in three years has ushered in a new twist to the already unusual relationship between President Donald Trump and the world’s most powerful central bank.
The Strange New Politics of AI. Plus. . .
It’s Thursday, September 17. This is The Front Page, your daily window into the world of The Free Press—and our take on the world at large. Today: Douglas Murray asks, why do we allow terrorists to die of old age? The American nonprofits backing Hamas. A conversation with Dara Horn and Coleman Hughes. And much more. But first: inside the unlikely coalition warning that AI may kill us all. Last week, an AI researcher named Jacob Coxon made headlines around the world after saying that he had resigned from Anthropic because he believes AI might cause human extinction—and his co-workers do, too. Unlike the rest of us, potentially, the story just won’t die. The Pro-Human Assembly, a conference held Tuesday in Washington, D.C., about the existential dangers of artificial intelligence, couldn’t have come at a better time—or with a more eclectic coalition. The Archbishop of San Francisco was there. So was Steve Bannon, screaming about the Chinese. Bernie Sanders did a quasi-dramatic reading of messages posted to an online forum by rogue AI agents. Ashley Judd paraphrased a graphic Andrea Dworkin quote for reasons that remain a mystery to me still. It was odd. People in the AI industry have talked openly about the possibility of this technology causing human extinction for years, but it hits differently in the wake of the Hugging Face incident. If you don’t know what that is, all the more reason to read my dispatch today. As the doomers see it, the best-case scenario is a future in which humans are basically kept as pets: well cared for, but with zero autonomy. The worst-case scenario, obviously, is the everyone dies thing. What should be done? I heard lots of ideas but no easy answers. There are currently zero federal regulations on AI, which is sort of strange even to think about. After all, we regulate microwaves, and the people running the microwave industry have never once refused to rule out the possibility that their products will end all human life on Earth. What I saw in D.C. left me even more convinced that you would be hard-pressed to find anyone who believes nothing should be done. You know, except for President Trump. — River Page River Page • Tech and Business [ The AI Doomers Have a Plan to Save Us. I Went to Find Out What It Is. ](https://www.thefp.com/p/the-ai-doomers-have-plan-save-bernie-sanders-bannon) Read story How Robert Kraft Made Macklemore a Martyr—and How to Better Fight Antisemitism On Monday, New England Patriots owner Robert Kraft and a group of other NFL owners banned Macklemore from performing at their stadiums after the rapper delivered a “Free Palestine” speech while opening for Ed Sheeran. Kraft cited the rapper’s “broader history of antisemitic rhetoric and imagery.” Once multiple venues refused to host shows with Macklemore on the lineup, the tour’s promoter officially dropped him. Today, Josh Kaplan says that the move was counterproductive, arguing that though well-intentioned, Kraft’s decision turned an irrelevant footnote into a martyr. “You cannot cancel people into liking you,” Josh writes. Read his column on what a better response to Macklemore would have looked like. Read [ Robert Kraft Made Macklemore a Martyr ](https://www.thefp.com/p/robert-kraft-made-macklemore-martyr-antisemitism-palestine) This raises the question: What actually works against antisemitism? On the latest episode of Conversations with Coleman, recorded in front of a live audience in New York, Dara Horn joins Coleman Hughes to talk about her new book The Final Solution to the Jewish Question. She argues that antisemitism is a script that has repeated itself across countries and ideologies, and that most people don’t understand that well enough to fight it. Don’t miss their conversation. Watch [ The Lie at the Center of Antisemitism, with Dara Horn ](https://www.thefp.com/p/the-lie-at-the-center-of-antisemitism-coleman-hughes-dana-horn) Listen now Douglas Murray • U.S. Politics [ Douglas Murray: The 9/11 Failure That Still Haunts America ](https://www.thefp.com/p/douglas-murray-911-failure-justice-terrorist-guantanamo-bay) Twenty-five years after the September 11 attacks, the men who planned them have still not faced trial. Khalid Sheikh Mohammed and most of the accused have been locked up in Guantanamo Bay since 2002. Judges have retired, and plea deals have collapsed. Today, Douglas Murray examines how this happened and argues that a justice system that allows terrorists to die of old age in an interminable pretrial process is one that has failed. Read his latest column on what that failure says about our unpreparedness for the era we are now living in. Read story The Editors • U.S. Politics [ When Nonprofits Support Terrorists ](https://www.thefp.com/p/when-nonprofits-support-terrorists) A newly declassified CIA brief from 1998 found that Osama bin Laden used nonprofit shell organizations—including U.S.-based Islamic groups—to fund his terror plots. Today, a similar story is unfolding as multiple organizations on American soil present themselves as nonprofits, taking advantage of tax-exempt status while seeking to advance the ideological mission of terrorist groups like Hamas. Read our editorial on the latest evidence of this dangerous trend—and why there’s no excuse for making the same mistake the CIA revealed 28 years ago. Read story Simon Sebag Montefiore and Bari Weiss Live in New York For decades, the Middle East has shaped American foreign policy and loomed large in the public consciousness. Few understand its influence on our politics better than Simon Sebag Montefiore, who argues that America’s quagmires in the Middle East stem from a deep misunderstanding of the region—on both the left and the right. Join him October 1 as he sits down with Bari Weiss live in New York City to kick off his U.S. book tour for The Cauldron: The Making of the Modern Middle East. Get Tickets Now MORE FROM THE FREE PRESS [ Sydney Sweeney’s Naked Truth ](https://www.thefp.com/p/sydney-sweeneys-naked-truth-caitlin-flanagan) Caitlin Flanagan Read story [ I Thought Ukraine Was Losing. Then I Was Almost Hit by a Russian Drone. ](https://www.thefp.com/p/elliot-ackerman-ukraine-drone-gas-station-train) Elliot Ackerman Read story [ The Dangerous Ideology Behind the AI Warnings ](https://www.thefp.com/p/dangerous-ideology-effective-altruism-artificial-intelligence) Shyam Sankar Read story [ Amanda Knox: Patrick Clancy Can’t Win ](https://www.thefp.com/p/amanda-knox-patrick-clancy-grief-internet-crime) Amanda Knox Read story THE NEWS The Federal Reserve raised interest rates by a quarter point, its first hike since 2023, signaling that another increase could follow as the central bank tries to bring inflation under control. President Donald Trump fired back by demanding that rates be cut sharply, though he stopped short of criticizing Fed Chair Kevin Warsh by name. The Houthis fired drones and missiles at Saudi Arabia on Wednesday, including a major oil port on the Red Sea, and Saudi jets struck back with air strikes across Yemen in an escalating front of the Middle East war. (For more on the Houthis, read Zineb Riboua’s column from earlier this week.) A sweeping Russia and Iran sanctions bill passed the House in a 262–159 vote and is now heading to Trump for his signature. Named after the late senator Lindsey Graham, the legislation would hit countries that purchase large volumes of Russian oil and gas with tariffs of up to 100 percent, and is aimed at cutting off revenue that funds Russia’s war in Ukraine. European Commission president Ursula von der Leyen proposed making Canada the European Union’s first-ever “associate member,” drawing a standing ovation from European lawmakers. The proposal, framed as a response to a world grown more hostile, faces an uncertain path as EU member states would have to approve it, and one diplomat said that “nobody really knows what it means.” The House voted unanimously to send billionaire Leon Black a criminal contempt referral after he defied a congressional subpoena to testify and hand over documents related to his connections to Jeffrey Epstein. Black chose to fight the subpoena in court rather than comply. Charlie Kirk’s family filed a wrongful death notice Wednesday against Utah Valley University, alleging that a series of security failures left him exposed to a rooftop sniper. The notice is a required legal step before the family can sue. Merriam-Webster added 1,400 words and definitions to its dictionary, including looksmaxxing, vibe coding, and cuffing season. The publisher said the new entries offer “a window into the world today.” The Free Press earns a commission from any purchases made through all book links in this article.
3 Health Care Stocks Built For Higher Rates
When the Federal Reserve lifts rates and signals they may stay elevated for years, the easy-growth playbook breaks. Cash flows today matter more than promises tomorrow, and investors start to care a lot about balance sheet strength, pricing power and dependable dividends. This article walks through three large cap quality defensive stocks that screen well under those rules and explains how the latest Fed move could affect each one. The three stocks below are a sample of what this quality...
Trump says Fed is raising interest rates for political reasons
President Donald Trump comments on Federal Reserve chair Kevin Warsh raising interest rates.
What Today’s Rate Hike Means For Business Leaders
Today, the Federal Reserve under Chair Kevin Warsh raised rates to address inflation that remains above target
Small-Business Owners Face Higher Borrowing Costs. These Moves Can Help Control Them
The Federal Reserve just raised interest rates by 0.25 percent. Experts explain what entrepreneurs need to know.
Stocks fall as Fed delivers hawkish rate hike
The U.S. Federal Reserve raised interest rates by 25 basis points, causing global stocks to fall and bond yields to rise amid inflation concerns.
Ed Yardeni predicts Fed interest rate hikes amid persistent inflation
Yardeni Research President Ed Yardeni joins Liz Peak to discuss Federal Reserve policy. Yardeni predicts a tightening cycle with multiple interest rate hikes over the next year to bring persistent inflation down to the target.
Morgan Stanley turns more hawkish, forecasts two Fed hikes and ECB move
Morgan Stanley has joined other major Wall Street banks in adopting a more hawkish outlook on interest rates, forecasting U.S. Federal Reserve rate hikes and another European Central Bank increase later this year as inflationary pressures persist.
Wall Street ends down, calls for AI slowdown pummel chipmakers
Wall Street declines as Nvidia and chipmakers drop amid AI safety calls and rising 10-year Treasury yields ahead of the Federal Reserve meeting.
Week of conferences, economic decisions highlight D-FW business datebo
Dallas-based Dave & Buster’s reports earnings, the Federal Reserve make an interest rates call and more.
Commentary: The Fed’s credibility depends on resisting politics, not playing it
At Jackson Hole last month, all eyes were on Federal Reserve Chair Kevin Warsh in his first speech at the Fed’s annual conference. But all thoughts were about the Fed’s rate decision next week. Kenneth Rogoff, a Harvard economist who was at Jackson Hole as a lunchtime speaker, offered this advice to a New York Times journalist: “If they can possibly put it off till after the midterms, it would ...
Commentary: The Fed’s credibility depends on resisting politics, not playing it
At Jackson Hole last month, all eyes were on Federal Reserve Chair Kevin Warsh in his first speech at the Fed’s annual conference. But all thoughts were about the Fed’s rate decision next week.
Trump threatens trade cutoffs if Fed doesn’t lower interest rates
Trump threatened to cut off trade with countries that run surpluses with the U.S. if the Federal Reserve does not lower interest rates.
Trump says if the Fed doesn't cut rates, he'll stop trading with some nations
U.S. President Donald Trump on Friday said that unless the Federal Reserve cut interest rates, he would stop trading with countries with which the United States had a deficit.
Fed Chairman Kevin Warsh faces pressure to show his hand
Federal Reserve Chairman Kevin Warsh is set to deliver his biggest speech yet on Friday, but investors may not hear what they want.
All eyes on Warsh in Wyoming
Welcome to The Hill’s Business & Economy newsletter{beacon} Business & Economy Business & Economy The Big Story All eyes on Warsh in Wyoming Federal Reserve Chair…
Fed's Hammack tells Fox Business inflation likely to ease slowly
Federal Reserve Bank of Cleveland President Beth Hammack said Thursday the U.S. central bank is unlikely to get price pressures back to target even by next year, in an interview that also saw her reiterate her belief a rate hike is needed to quell high inflation.
Fed Chair Warsh faces Jackson Hole spotlight with inflation, rate path in focus
Federal Reserve Chair Kevin Warsh delivers his first Jackson Hole keynote as bond yields near highs and markets demand clarity on the Fed's rate path.
Business owners squeezed as costs rise, profits fall, Minneapolis Fed survey finds
Most businesses in the Upper Midwest report that their profits are down from last year, according to a new survey from the Federal Reserve Bank of Minneapolis.
Boston Fed president listens to N.H. business, economic leaders
Susan M. Collins, president of the Federal Reserve Bank of Boston, met on Thursday with business leaders in New Hampshire who are grappling with lingering inflation and an especially tight labor market.
Trump calls for lower interest rates as Fed officials watch inflation
President Donald Trump again called for lower interest rates, though Federal Reserve officials said a hike may be needed if inflation does not cool.
Cleveland Fed’s Hammack questions whether U.S. inflation will keep slowing
The Federal Reserve Bank of Cleveland president says more needs to be done to get to the Fed's 2% target for inflation.
Trump administration proceeds with efforts to fire Federal Reserve governor Lisa Cook
The Trump administration is moving ahead with its efforts to fire Federal Reserve governor Lisa Cook, two months after the Supreme Court allowed her to retain her job while she fights the president’s effort to terminate her over mortgage fraud allegations that she has denied.
Trump administration pursues efforts to fire Federal Reserve governor Lisa Cook
Two months ago, the Supreme Court allowed her to retain her job
Trump administration pursues efforts to fire Federal Reserve governor Lisa Cook
Two months ago, the Supreme Court allowed her to retain her job
Trump administration pursues efforts to fire Federal Reserve governor Lisa Cook
Two months ago, the Supreme Court allowed her to retain her job
Trump administration pursues efforts to fire Federal Reserve governor Lisa Cook
Two months ago, the Supreme Court allowed her to retain her job
Trump considering renewing push to fire Lisa Cook from Federal Reserve Board
President Donald Trump is signaling that he may move forward with his attempt to fire Federal Reserve Board Governor Lisa Cook over mortgage fraud allegations.
Federal Reserve’s Lisa Cook tells Anchorage business crowd she’s ‘firmly committed’ to bringing down inflation
High inflation for five years has contributed to negative views of the economy, even as it’s largely stable, Lisa Cook said.
I was kicked off my family phone plan. You could be next
Phone bills are the most common expense people 18 to 29 had covered by someone outside their household, according to a Federal Reserve survey.
3 biggest takeaways from the July Federal Reserve decision
The FOMC voted to hold rates steady, but three members wanted to hike. Fed Chair Kevin Warsh laid out more of his vision for the central bank.
Business executives have confidence in the Warsh Federal Reserve: Business Roundtable CEO Bolten
Josh Bolten, Business Roundtable CEO, joins 'The Exchange' to discuss the Federal Reserve.
Here Are Wednesday’s Top Wall Street Analyst Research Calls: Bloom Energy, Caesars Entertainment, CarMax, Caterpillar, Ford, MPLX LP, Noble, Reddit, Texas Instruments, and More
Analysts are making bold moves on Wednesday, flipping their ratings on Bloom Energy, Ford, Caterpillar, and Reddit as markets navigate falling oil prices, rotation out of semiconductors, and a Federal Reserve poised to hold rates steady.
The Fed confronts an unusually confusing economic moment
The Federal Reserve has remained mum about interest rates as inflation concerns have heightened, leading to confusion about the state of the US economy.
Understanding the financial health of Native CDFI loan funds: A closer look at the numbers | Federal Reserve Bank of Minneapolis
New analysis sheds light on how Native CDFI loan funds balance financial sustainability with serving historically underserved communities
Persistent inflation dogs small business confidence: US Chamber
The Federal Reserve will probably raise interest rates in coming months in an effort to curb inflation to its 2% target, according to traders in interest rate futures.
Small business employment growing faster in New England than nationwide
It is no surprise that small businesses are extremely important when it comes to job growth, and a recently released Federal Reserve Bank of Boston report not only confirms that but says that small business job growth in New England is outpacing the rest of the country. In New England, the report says small businesses […]
Takeaways from Fed Chairman Kevin Warsh’s first congressional testimony
Federal Reserve Chairman Kevin Warsh on Tuesday offered his most detailed account yet of the sweeping changes he’s ushering in at America’s central bank and the philosophy behind them.
Warsh: Fed Doesn’t Want to Be in Bailout Business
Asked about whether the Federal Reserve would step in with a bailout in the event of a financial crisis involving cryptocurrencies, Chairman Kevin Warsh says the central bank does “not want to be in the bailout business.” The Fed is going to “do everything we can to mitigate those sort of extra ris
The Quintessential Trump-era Politician
In 2020, I wrote an article about collaboration and collaborators. The title was History Will Judge the Complicit, and it started with the story of two famous East Germans, Markus Wolf and Wolfgang Leonhard, who both landed in East Berlin just after the end of the war. Although they came from very similar backgrounds, the former stuck with the regime, eventually becoming its spy boss; the latter, horrified by the brutal reality of Soviet-style communism, escaped. By way of juxtaposition, I also wrote about Lyndsey Graham and Mitt Romney. These two men also made very different decisions when confronted by Donald Trump’s assault on the ideals that they had both grown up believing: A glance at their biographies would not have led many to predict what happened next. On paper, Graham would have seemed, in 2016, like the man with deeper ties to the military, to the rule of law, and to an old-fashioned idea of American patriotism and American responsibility in the world. Romney, by contrast, with his shifts between the center and the right, with his multiple careers in business and politics, would have seemed less deeply attached to those same old-fashioned patriotic ideals. Most of us register soldiers as loyal patriots, and management consultants as self-interested. We assume people from small towns in South Carolina are more likely to resist political pressure than people who have lived in many places. Intuitively, we think that loyalty to a particular place implies loyalty to a set of values. But in this case the clichés were wrong. It was Graham who made excuses for Trump’s abuse of power. It was Graham—a JAG Corps lawyer—who downplayed the evidence that the president had attempted to manipulate foreign courts and blackmail a foreign leader into launching a phony investigation into a political rival. It was Graham who abandoned his own stated support for bipartisanship and instead pushed for a hyperpartisan Senate Judiciary Committee investigation into former Vice President Joe Biden’s son. It was Graham who played golf with Trump, who made excuses for him on television, who supported the president even as he slowly destroyed the American alliances—with Europeans, with the Kurds—that Graham had defended all his life. By contrast, it was Romney who, in February, became the only Republican senator to break ranks with his colleagues, voting to impeach the president. “Corrupting an election to keep oneself in office,” he said, is “perhaps the most abusive and destructive violation of one’s oath of office that I can imagine.” In the wake of Graham’s unexpected death on Saturday, I wrote about him again. He was, in many ways, the quintessential politician of Trump’s Washington, a man who shifted 180 degrees. Graham had been a fervent American patriot, proud reserve officer and military lawyer; he became one of the most important defenders of a president who believes soldiers are “suckers and losers” and shows no respect for law of any kind. As his politics changed, his language grew coarser and his behavior grew worse: He urged Israel to “level the place” in Gaza, and insulted the Danish prime minister in Munich, prompting a colleague, Senator Elissa Slotkin, to issue an apology. Here’s an excerpt from the article, which you can read in The Atlantic (gift link here) Like his close friend John McCain, Graham believed that America should stand at the center of a broad democratic alliance. The few times I met him were in that context, at the Munich Security Conference or at other European-American gatherings, which he once attended with great regularity. He also took seriously the practice of American democracy at home. In a 2014 conversation with The Atlantic, he described himself as a pragmatic politician who eschewed populist slogans. “I know Washington is broken, but what’s broken about it is everybody yelling and nobody trying to fix it,” he said. “I’m trying.” When Donald Trump first appeared in U.S. politics, Graham recognized him immediately for what he was: the spokesman for an alien ideology, one radically different from the idealistic patriotism that Graham had practiced and preached since childhood. Trump privately mocked the military that Graham loved as nothing but “suckers and losers.” He put falsehoods, cynicism, and personal greed at the center of his politics, while expressing disdain for transparency, accountability, and democracy itself. In 2015, Graham described Trump as a “race-baiting, xenophobic, religious bigot” who should “go to hell.” Also as a “nutjob.” When Trump won, Graham understood, as did so many others, that he would have to make some important choices. For a while, he went silent. In the spring of 2016, I saw him at one of those conferences in Europe. He seemed too depressed to speak. But then, like many other Republicans—and, more important, like many other people who have lived under political occupation or experienced radical regime change—he made the decision to abandon his previous ideals, to bury the patriotism that was once so important to him, and to become, instead, a loud, opportunistic collaborator. As I wrote in 2020, it’s very hard to look in to anyone’s heart and to understand their motivations from the outside. But it does seem that Graham had a deep need to be relevant, to be in the game, to be a player, at any cost. And that, rather than any particular achievement, is what he will be remembered for. Continuing to monitor conflicts of interest, ostentatious emoluments, outright corruption and policy changes that will facilitate outright corruption. (Read my original article, Kleptocracy Inc and check out the SNF Agora Institute chart) June 27 Trump diverted funds from more than 900 projects nationwide—including safety upgrades at national parks—to finance beautification projects around Washington, including $700,000 used to fix a White House walkway. June 28 After a years-long Department of Justice investigation into Abbott Laboratories over its management of a baby formula facility where potentially deadly bacteria turned up enough evidence to criminally charge the firm, top department officials instead opted for a financial penalty—illustrating the department’s move away from strict corporate enforcement under the Trump administration. June 29 Defense Secretary Pete Hegseth stacked the Defense Policy Board—which is charged with providing independent national security recommendations to the Office of the Secretary of Defense—with Trump allies, including tech billionaire Marc Andreessen, who has invested in defense contractors like OpenAI and SpaceX, after purging the panel last year. Trump purchased between $1 million and $5 million worth of stock in Axon—which makes about 90% of US tasers—two weeks before ICE solicited bids for a $220 million taser contract. The White House unveiled limited-edition US passports for America’s 250th birthday, featuring a portrait of Trump overlaid on the Declaration of Independence. June 30 Trump made around $1.2 billion from his various crypto companies last year, including more than $500 million from World Liberty Financial and $600 million from sales of his meme coin. Trump is considering issuing 250 pardons to commemorate America’s 250th birthday. These are expected to be largely doled out through the Office of the Pardon Attorney’s informal network of intermediaries. White-collar defense attorneys say they can typically win pardons for clients for $2 million. Last year, Trump administration officials awarded a no-bid contract worth up to $500 million to Clark Construction for the White House ballroom—negotiations in which the president was directly involved. July 1 The Amazon MGM Studios documentary about Melania Trump earned the First Lady more than $10 million. Trump made hundreds of individual stock purchases worth as much as $12.8 million the day before his announcement pausing “Liberation Day” tariffs for 90 days sent the S&P 500 soaring nearly 10%—one of the largest single-day gains ever. Mar-a-Lago and Trump National Doral saw record surges in revenue during Trump’s first year in office, earning $77.5 million and $121.9 million respectively, compared to average annual revenues of $25 million and $75 million during Trump’s first term. Entities across the Persian Gulf paid more than $300 million to Trump’s businesses last year, including $263 million from the sale of half his stake in World Liberty Financial to a firm backed by Sheikh Tahnoon bin Zayed Al Nahyan, a top UAE royal and brother of the country’s president. Kash Patel failed to properly disclose his stock purchase of a Department of Justice contractor, MicroStrategy, worth up to $250,000 last year, despite laws requiring disclosure within 45 days of the trade. July 2 Trump has been directing administration officials to steer more government contracts—so far worth more than $2.4 billion—to Jeff Bezos’s Blue Origin aerospace firm, after Amazon gave $1 million to Trump’s inaugural fund, donated to the White House ballroom project, and reached a $40 million deal to license a Melania Trump documentary. Alongside the billions he made from cryptocurrency last year, Trump earned millions of dollars from real estate licensing fees, including $21 million from organizations in the UAE and $9.2 million in Saudi Arabia, along with smaller sums from merchandise sales, including $4.7 million from Trump Watches and $35,920 from 45 Guitar, a guitar brand endorsed by the president. House Democrats accused consultants tied to the Trump administration of financial fraud, alleging they gave prospective donors to America250—the bipartisan committee created by Congress to celebrate the nation’s semiquincentennial—the banking and routing numbers for Freedom 250, the White House’s fund for events like the UFC cage fight. Democrats also allege that Freedom 250’s CEO traveled to the World Economic Forum in Davos to solicit donations from foreign government officials and business leaders. The Trump administration’s proposed rollback of gun regulations would lift the prohibition on mailing handguns to individuals, a significant win for GrabAGun—the direct-to-consumer firearm retailer on whose board Donald Trump Jr. sits and in which he holds a 1.1% ownership stake. GrabAGun currently must rely on a middleman to transfer firearms to customers. Trump’s financial disclosure revealed that he made more than 21,000 securities trades during his first year back in office, growing his investment account to at least $858 million across stakes in around 1,600 companies, compared to the 13 total trades Joe Biden made during his entire presidency. July 4 Nearly 1 million people who bought the president’s meme coin—Trump Coin—collectively lost $3.8 billion on the token, while he walked away with $636 million. July 6 Shares of Dell closed up 4.4% after Trump recommended people buy the firm’s computers during a speech announcing the launch of Trump investment accounts for children, boosting the more than $1 million worth of shares the president owns in the company. July 9 Federal Reserve Chair Kevin Warsh named crypto investor and Trump ally Marc Andreessen to a task force aimed at modernizing the Federal Reserve, including rethinking its approach to inflation—a key factor keeping interest rates elevated. Palm Beach International Airport has officially changed its name to Trump International Airport—a move that will require Florida to pay royalties to the president’s family for licensing his name. I was there a few months ago, during a trip to Barcelona. The sculptures were a revelation, I’d never seen so many together before. Each one has its own personality. Enjoy the good weather, if you are lucky enough to have it. History Will Judge the Complicit The Quintessential Politician Autocracy Inc Open Letters, from Anne Applebaum is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
New York Fed says many businesses are not finished raising prices to offset tariffs
Nearly half of firms that paid tariffs plan additional price increases, with some expecting to raise prices six months or more in the future, according to a new survey from the New York Federal Reserve.
Fed's Williams tells Fox Business he's more sanguine on inflation due to energy price retreat
Federal Reserve Bank of New York President John Williams said in a television interview on Tuesday he has grown a little less worried about the state of price pressures in the economy.
Fed's Waller says forward guidance 'more art than science'
Federal Reserve Board Gov. Christopher Waller says he is OK with dialing down the amount of communication issued by the central bank's monetary policy committee, but doesn't want the central bank to throw out the baby with the bathwater.
Biden-era illegal immigration drove up housing costs, Fed economists find
A Federal Reserve working paper finds unauthorized immigration during the Biden administration drove up home prices by 2.2% and rents by 1.4%.
Why the Jobs Market Has Wall Street and Washington on Edge
A rebound in hiring has put more pressure on the Federal Reserve to raise interest rates. New jobs numbers are scheduled for release on Thursday.
Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation
New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Trump has sought.
Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation
In remarks at a central bank conference in Sintra, Portugal, Warsh said that if businesses or households thought the Fed would accept inflation above 2%, “I guess they'd be disappointed. We're going to deliver price stability.”
Federal Reserve Chair Warsh emphasizes political independence
When asked about President Trump’s oft-repeated desire for lower rates at a central bank conference, Warsh underscored the Fed’s independence from day-to-day politics.
Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation
New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Trump has sought
New Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation
New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has sought. The Fed typically combats inflation by raising borrowing costs. When asked about Trump's oft-repeated desire for lower rates, Warsh underscored the Fed's independence from day-to-day politics.
Supreme Court's ruling in Cook case backs Federal Reserve's independence
The Supreme Court on Monday said the Federal Reserve, unlike any other agency in Washington, has a measure of independence from the presidency and day-to-day politics.
Supreme Court: Trump may fire heads of independent agencies, but not the Federal Reserve
The court's conservatives said the president had the authority to remove all officials who wield executive authority, even if the agency officials had fixed terms set by law.
Supreme Court says Fed's Lisa Cook can keep her job for now, but it upholds other Trump firings
The Supreme Court on Monday dramatically expanded presidential power, upholding President Donald Trump’s firings of the heads of independent federal agencies with one important exception, the Federal Reserve.
Supreme Court Expands Presidential Power by Allowing Trump to Fire F.T.C. Official
President Trump’s firing tested a precedent that had insulated independent regulators. But the justices carved out the “unique role” of the Federal Reserve.
Biden's illegal immigration surge caused higher rent and home prices, Fed study finds
A Federal Reserve working paper finds unauthorized immigration during the Biden administration drove up home prices by 2.2% and rents by 1.4%.
US Oilfield Business Activity Strengthens, Though Oil Price Uncertainty Remains
The Federal Reserve Bank of Dallas’ second-quarter energy survey reports improved business conditions, despite a mixed outlook on oil prices and input costs.
Consumer Discretionary Stocks Drawing Institutional Rotation Into Live Entertainment Leaders
With the Federal Reserve hinting at a pause in rate hikes, stubborn inflation still in the background, and several large companies surprising on earnings, consumer discretionary stocks are back in focus for investors weighing risk and opportunity. This article looks at how that mix of easier policy signals, solid corporate reports, and ongoing geopolitical and supply chain issues could affect larger U.S. consumer-focused companies. It will walk through 3 stocks from a curated screener that...
Fed's favored inflation gauge accelerated in May amid energy price shock
The Commerce Department PCE inflation report for May showed the Federal Reserve's favored inflation gauge rose higher amid the energy price shock caused by the Iran war.
Minnesota hospitality businesses are wary about the summer season | Federal Reserve Bank of Minneapolis
Businesses reported increasingly price-sensitive customers as costs continued to rise
BofA forecasts 75 bps of rate hikes in 2026 on labour market resilience, new Fed chair
BofA Global Research expects the Federal Reserve to hike interest rates by 75 basis points in 2026, it said on Monday, citing resilient economic data and rising expectations of a hawkish Fed under new Chair Kevin Warsh.
D-FW Business Datebook: Fed interest rates and talking talent
Dallas-Fort Worth business datebook for the week of June 14 features World Cup matchups, exciting author visits and market-moving reports from the Census Bureau, Federal Reserve and more.
Gas prices push inflation to a three-year high, squeezing consumers and businesses
Rising gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political challenge for the Trump administration as midterm elections near
Goldman Sachs pushes Fed rate-cut call to 2027 on strong US jobs data
Goldman Sachs expects the U.S. Federal Reserve to keep rates unchanged through 2026 and delay rate cuts until 2027, it said on Friday, citing stronger economic activity and job growth after a robust payrolls report.
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.