Business News

(WASHINGTON) -- Federal Reserve Chair Jerome Powell stepped to the podium in August with a sunny forecast that defied the snow-capped mountains inscribed on curtains behind him.The central bank planned to begin cutting rates, Powell announced, reversing a yearslong battle against pandemic-era inflation. "The time has come," Powell told the audience at a conference in Jackson Hole, Wyoming, touting a steady cooldown of price increases.Months later, economic uncertainty looms large, […]

(NEW YORK) -- The Federal Reserve is set to announce its first interest rate decision since a global trade war touched off by President Donald Trump's tariffs sent stocks reeling and triggered concern about a possible recession.The move arrives less than two weeks after Fed Chair Jerome Powell said tariffs would likely raise prices, while voicing patience as Trump's economic policies take shape."We are focused on parsing the signal from […]

(NEW YORK) -- As Tesla stock has fallen in recent weeks, members of the board and an executive at Elon Musk's company have been selling off millions of dollars in stock, according to filings with the U.S. Securities and Exchange Commission.Together, four top officers at the company have offloaded over $100 million in shares since early February.Last week, longtime Musk ally James Murdoch -- the estranged son of Fox boss […]

(NEW YORK) -- President Donald Trump’s tariffs sent stocks tumbling in recent weeks, but the uncertainty helped propel a different asset viewed as a safe haven: gold.The price of gold topped $3,000 per ounce for the first time ever last week, and the precious metal continued to hover around that mark in early trading on Monday.Gold prices have soared 12% so far this year, while the S&P 500 has plummeted […]

Harvard Yard/ Andrew Lichtenstein/Corbis via Getty Images) (CAMBRIDGE, Mass.) -- Harvard University on Monday announced that tuition will be free for students from families with annual incomes of $200,000 or less starting in the 2025-26 academic year."Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all of our students encounter, fostering their intellectual and personal growth," Harvard University President Alan M. Garber […]

(NEW YORK) -- Consumer attitudes soured in March alongside slumping markets and growing concern about a possible recession, University of Michigan survey data on Friday showed. Sentiment worsened more than economists expected.The figure marked the third consecutive month of dampening consumer attitudes, data showed.Expectations about future economic conditions worsened in a slew of key areas, including personal finances, labor markets, inflation and stock markets, the survey said.Consumer sentiment soured among […]

Spencer Platt/Getty Images (NEW YORK) -- U.S. stocks climbed in early trading on Thursday, advancing amid signs the federal government may avert a shutdown and recovering some of the losses suffered during an escalating trade war.The Dow Jones Industrial Average jumped 230 points, or 0.6%, while the S&P 500 increased 0.9%. The tech-heavy Nasdaq climbed 1.3%.The market upswing comes after Senate Democratic Leader Chuck Schumer announced Thursday night that he […]

(WASHINGTON) -- President Donald Trump on Thursday stood firm on his tariff policy, hours after threatening to escalate a global trade war with a 200% tariff on champagne and other alcohol products from the European Union."I'm not going to bend at all," Trump told reporters at the White House on Thursday. When asked whether he would reconsider a fresh round of tariffs set to go into effect on April 2, […]

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City. (NEW YORK) -- U.S. stocks dropped slightly lower early Thursday, after a reprieve for the S&P and Nasdaq a day earlier amid President Donald Trump's trade war.The Dow Jones Industrial Average fell 150 points in early trading, or 0.4%, while the S&P 500 ticked down 0.25%. The tech-heavy Nasdaq declined 0.35%.Trading opened minutes after […]