The Fed Could Be on Hold Until September, Economists Say
More than 20 times during a roughly 45-minute news conference on Wednesday, Jerome H. Powell, the chair of the Federal Reserve, referenced the idea of waiting to see how President Trump’s…
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Banking and Financial Institutions
Toyota Says Tariffs Will Erase $1.3 Billion in Profits in Just 2 Months
A year ago, the world’s biggest automaker was on a tear. American consumers were snapping up Toyota Motor’s hybrids, and a weak yen inflated the value of the company’s earnings. That May,…
What the Fed’s Rate Decision Means for Loans, Credit Cards, Mortgages and More
The Federal Reserve is expected to keep its key rate steady on Wednesday, after a series of cuts that lowered rates by a full percentage point last year. That means consumers looking to…
What to Watch at the Federal Reserve’s May Meeting
The Federal Reserve is set to extend its pause on interest rate cuts on Wednesday amid concerns that President Trump’s tariffs will unleash fresh inflationary pressures while also hurting…
China Cuts Interest Rates to Shore Up Economy Hit by Trade War
China’s central bank cut interest rates and made it easier on Wednesday for banks to increase lending and pump more money into the economy, in the most significant policy steps taken by…
Credit Suisse Pays $510 Million Fine for Helping Clients Evade Taxes
The toll for misconduct at the fallen Swiss bank Credit Suisse just keeps getting bigger. Federal prosecutors said on Monday that UBS, which rescued Credit Suisse from the brink of…
The Fed Isn’t Likely to Cut Rates Proactively Despite Economic Concerns. Here’s Why.
Less than a year ago, the Federal Reserve took decisive action to bolster the U.S. economy. With inflation easing and the labor market starting to soften, the central bank opted to go big,…
Why Designated Beneficiaries Are Key to Your Estate Planning
Before Zygmund Furmaniuk’s aunt Mary died in 2023, she set up a trust to hold her assets and to distribute her estate, which was valued at nearly $1 million. A retired chemistry teacher,…
U.S. Dollar Falls. The Euro Could Step Up as Reserve Currency
The U.S. dollar has fallen about 9 percent in the past three months, according to an index that tracks its performance against a basket of major trading partners. Not since the 1970s has…
Trump’s Tariffs Lead Japan to Slash Its Economic Growth Forecast
The growing list of major economies warning of weaker growth because of U.S. tariffs has a new member. The Bank of Japan said on Thursday that it expects the Japanese economy to grow 0.5…
Under Trump, Stocks Have the Worst Start to a Presidential Term Since 1974
One hundred days of President Trump. Seventy days of whipsaw trading in financial markets. Thirty three days of losses. More than $6.5 trillion wiped from the value of public companies.…
With Trump In Power, Foreign Crypto Companies Make Inroads in US
Last month, Paolo Ardoino, the chief executive of the cryptocurrency company Tether, joined business executives and U.S. lawmakers for a private lunch at the Willard, a luxury hotel near…
Bessent Seeks to Reassure Global Leaders on Dollar’s Role as Safe Haven
On the sidelines of the spring meetings of the International Monetary Fund and World Bank this week, Treasury Secretary Scott Bessent tried to convey an important message about the United…