Economy
Fed Chair Powell asks inspector general to review controversial building project
Key Points The Federal Reserve has brought in its inspector general to review a building expansion that has drawn fire from the White House, according to a source familiar with the issue. “We’ve got a real problem of oversight and excess spending,” Kevin Hassett, director of the National Economic Council, said Monday on CNBC. Source
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Stocks making the biggest moves premarket: Kenvue, Rivian, Affirm, SolarEdge Technologies and more
Check out the companies making headlines in premarket trading. Kenvue — The Neutrogena-maker jumped 4.5% after the company said its CEO Thibaut Mongon has stepped down . Kenvue said its board is conducting a strategic review of the company and is considering a range of possible alternatives, such as simplifying the company’s portfolio. nCino — […]
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Trump’s 30% tariff letter leaves EU scrambling to bring U.S. on side
US President Donald Trump walks on the South Lawn of the White House after arriving on Marine One in Washington, DC, US, on Sunday, July 13, 2025. Bonnie Cash/UPI/Bloomberg via Getty Images The European Union has been left scrambling after U.S. President Donald Trump said he would slap a 30% tariff on goods imported from […]
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India’s inflation cools to 2.1% in June, extending slide to more than 6-year lows
A laborer loads consumer goods onto a supply cart at a wholesale market in Kolkata, India, on November 11, 2024. Nurphoto | Nurphoto | Getty Images India’s consumer inflation continued to ease in June, hitting a lower-than-expected 2.10%, government data showed on Monday. The headline inflation rate extended its slide after dropping to a more […]
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The EU is delaying retaliatory tariffs on U.S. goods in hopes of reaching a deal by Aug. 1
European Commission President Ursula von der Leyen attends a press conference with Polish Prime Minister Donald Tusk and European Council President Antonio Costa, on the day of the European Union leaders summit in Brussels, Belgium June 26, 2025. Yves Herman | Reuters The European Union will suspend retaliatory tariffs on U.S. goods scheduled to take […]
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Trump ‘certainly’ can fire Fed chair Powell ‘if there’s cause’: Hassett
National Economic Council Director Kevin Hassett speaks to reporters at the White House in Washington, D.C., U.S., April 14, 2025. Kevin Lamarque | Reuters National Economic Council Director Kevin Hassett said Sunday that whether the Trump administration has the authority to fire Federal Reserve Chair Jerome Powell is “being looked into.” “But certainly, if there’s […]
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Australia and China: Trade flows and security tensions shape ties
Australia’s Prime Minister Anthony Albanese arrived in Shanghai on Saturday for a six-day visit to three Chinese cities where regional security tensions and economic ties are likely to dominate talks. Albanese’s second visit to China, where he will meet President Xi Jinping, comes after Canberra stepped up screening of Chinese investment in critical minerals and […]
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Federal Reserve quietly responds to Trump administration attacks over renovation
U.S. Federal Reserve Chair Jerome Powell testifies before a House Financial Services Committee hearing on “The Semiannual Monetary Policy Report to the Congress,” on Capitol Hill in Washington, D.C., U.S., June 24, 2025. Kevin Lamarque | Reuters As the Trump administration escalates its criticisms of the Federal Reserve and Chairman Jerome Powell, the central bank is […]
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Inside the trade war’s tariff hideouts, ‘foreign’ zones and bonded warehouses
To offset the rising costs of tariffs and trade war uncertainty, companies are using U.S. Customs-sanctioned foreign trade zones (FTZs) and bonded warehouses to delay or reduce product taxes. FTZs have a long history dating back to a previous period of trade conflict, created during the Great Depression by Congress to encourage international trade and […]
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Trump announces 30% tariffs on EU and Mexico, starting Aug. 1
The flags of the European Union fly in front of the European Parliament. Philipp von Ditfurth | dpa | Picture Alliance | Getty Images President Donald Trump said Saturday the U.S. will impose a 30% tariff on goods from the European Union and Mexico that will take effect on Aug. 1. Trump revealed the new […]
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