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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…
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.
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 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.
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.
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 …
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...
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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
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.
WATCH LIVE: Kevin Warsh sworn in as chairman of the Federal Reserve
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.
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.
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.
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.
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".
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.’
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.
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.
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.
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.
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.
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.
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.
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,
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.
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
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.”
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.
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)
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.
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.
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.
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.
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