California Gov. Gavin Newsom said President Donald Trump directed the Justice Department to investigate him and his wife, calling the inquiry politically motivated. Newsom said federal agents have contacted family friends and former employees and demanded records.
Posts tagged as “the Federal Reserve”
U.S. employers added 172,000 jobs in May and the unemployment rate stayed at 4.3%, signaling a resilient labor market. The strong report comes as inflation and energy prices rise, complicating the Federal Reserve’s next interest rate decision.
The Senate Banking Committee advances Kevin Warsh's nomination for Federal Reserve chair amid partisan divisions and ongoing political controversy. Meanwhile, current Chair Jerome Powell announces he will remain on the Fed board after his term ends, citing political pressures and investigations.
Prosecutors from Jeanine Pirro's office attempted an unannounced visit to the Federal Reserve's renovation site but were denied access amid a criminal investigation into Fed Chair Jerome Powell. The probe and visit have complicated the confirmation of President Trump's nominee to succeed Powell.
The U.S. added 178,000 jobs in March, exceeding expectations as the unemployment rate fell to 4.3%. Gains in health care, construction, and transportation contrast with concerns over wage growth, labor force participation, and rising energy costs amid the Iran conflict.
Federal Reserve Holds Interest Rates Steady Amid Middle East Conflict and Rising Inflation Pressures
Federal Reserve Holds Interest Rates Steady Amid Middle East Conflict and Rising Inflation Pressures
The Federal Reserve announced it will keep its benchmark interest rate steady at 3.5% to 3.75%, marking a second consecutive pause amid economic uncertainty driven by geopolitical tensions in the Middle East. Rising energy prices due to the conflict between the U.S., Israel, and Iran have intensified inflationary pressures, while recent economic data showed unexpected job losses and higher wholesale inflation. Federal Reserve Chair Jerome Powell is expected to provide further guidance on monetary policy amid these challenges, with potential rate cuts later in 2026 remaining uncertain.
The Senate overwhelmingly approved the bipartisan 21st Century ROAD to Housing Act, a comprehensive bill aimed at increasing affordable housing by streamlining construction, easing regulations, and limiting institutional investors from buying single-family homes. Sponsored by Senators Warren and Scott, the legislation includes grants, coordinated environmental reviews, and provisions to curb Wall Street’s influence in the housing market, though some opposition remains over certain investor restrictions. While the bill passed the Senate decisively, its future in the House is uncertain due to differences in versions, political opposition, and competing legislative priorities, even as housing affordability remains a critical issue for Americans.