Powell has said that "we'll be adding reserves at a certain point" to their balance sheet

Powell told reporters that the U.S. labor market is weakening, saying “job creation is very low, and unemployed workers are having a hard time finding new jobs.” According to Fortune, Powell also said that a growing number of companies are contributing to the slowdown by freezing hiring or cutting

US President Donald Trump has insinuated that he may recommend 50 year mortgages

President Trump’s proposal to introduce 50-year mortgages triggered immediate blowback online after FHFA Director Bill Pulte announced the administration is actively working on the plan. Trump promoted the idea by comparing himself to FDR — who popularized the 30-year mortgage — suggesting that extending loan terms could improve affordability for new

Trump predicts $20 trillion could be injected into the U.S. economy by the end of this year

Key takeaways * Trump claims as much as $20 trillion could enter the U.S. economy through reshoring, tariffs, and domestic investment. * Economists say the number is not supported by measurable commitments and would rival the size of the entire U.S. GDP. * Inflation and job growth remain weak, creating tension

Trump says doesn't know who CZ is after pardon

President Donald Trump says he has no idea who Changpeng Zhao is — even though he granted the cryptocurrency billionaire a presidential pardon last month. Trump was questioned about the decision during an interview on CBS’s 60 Minutes, which aired Sunday. Zhao — or “CZ,” as he is widely known — pleaded

70.5% of new tariffs were passed onto consumers

So far this year, the effect of tariffs on consumer prices has been modest — but economists say shoppers will start to feel the impact as the holiday spending season approaches. The tariffs President Donald Trump imposed on a wide range of products and countries since April have coincided with inflation

Jerome Powell has said that "Job creation is pretty close to zero," due to AI

Powell told reporters that the U.S. labor market is weakening, saying “job creation is very low, and unemployed workers are having a hard time finding new jobs.” According to Fortune, Powell also said that a growing number of companies are contributing to the slowdown by freezing hiring or cutting

Republicans have just rejected the Democrats offer to end the shutdown

Senate Majority Leader John Thune swiftly rejected a Democratic proposal to reopen the government and extend soon-to-expire health insurance subsidies for an additional year, dismissing it as a “nonstarter,” as the shutdown stalemate dragged into its 38th day. Earlier Friday, Senate Democratic Leader Chuck Schumer put forward the offer, attempting

Treasury Secretary Bessent has said some sectors of U.S. economy already in recession

Only seven weeks into his second term, Donald Trump was asked whether his economic plans might trigger a downturn in the near term. Fox News host Maria Bartiromo asked him directly: “Do you expect a recession this year?” Trump spoke at length in response — but never actually said no. “I

The Supreme Court lets Trump pause full SNAP payments

Justice Ketanji Brown Jackson on Friday issued a temporary order halting a lower court’s decision that required the Trump administration to provide full food stamp benefits for tens of millions of Americans this month — a move that, for now, favors the administration in a fast-moving legal dispute that has

Layoffs in October were the highest since 2003

Job cuts in the U.S. surged in October, with more than 153,000 layoffs, making it the highest number of October job reductions in over two decades, according to data from the staffing and outplacement firm Challenger, Gray & Christmas. So far this year, employers have announced close to

Deutsche Bank is exploring ways to hedge its exposure to data centers

Deutsche Bank is examining methods to protect itself from risks tied to data-centre lending, after committing several billion dollars in loans to support the surge in artificial intelligence and cloud-computing demand. Inside the bank, senior leaders have been debating how to manage the growing exposure as major tech groups — the

Colorado has approved an income tax increase on higher-earning households to fund meals for public school students

Voters in several states approved amendments to state constitutions and changes to state law during Tuesday’s election. Among the most notable were a California redistricting proposal tied to the broader national fight over control of the U.S. House after the 2026 elections, a “red flag” gun law in

Texas voters approve a constitutional amendment affirming parents are the primary decision makers for their children

Voters in several states approved amendments to state constitutions and changes to state law during Tuesday’s election. Among the most notable were a California redistricting proposal tied to the broader national fight over control of the U.S. House after the 2026 elections, a “red flag” gun law in

Trump has said that the US government shutdown is now affecting the stock market... do not expect it to end soon

The current government shutdown is not only the longest in U.S. history — it also appears to be the most economically harmful. Normally, shutdowns cause brief disruptions that are quickly reversed once funding is restored. But the ongoing lapse in government funding, now in its 36th day since beginning on

The median age of a first-time homebuyer in the US is now at a record 40 years, up from 33 in 2021 and 29 in 1981

The typical first-time homebuyer in the U.S. is now 40 years old, the oldest median age ever recorded. In comparison, the median was 33 in 2021 and just 29 in 1981. The sharp rise reflects the ongoing housing affordability crisis, where high prices, elevated mortgage rates, and limited inventory

US President Donald Trump has just said: Let’s see how Mamdani does in New York, we will help him

Zohran Mamdani used his first press conference since winning the mayoral election on Tuesday to signal that he will not back down from pressure coming from the Trump administration. The 34-year-old unveiled the members of his transition team and said his administration will confront what he called the “twin crises”

Nvidia’s, NVDA, Jensen Huang says China ‘will win’ AI race with US

Nvidia CEO Jensen Huang issued a stark warning about the global AI competition, telling the Financial Times that “China is going to win the AI race.” His comments highlight growing tension between rapid AI development and increasing regulatory pressure in the U.S. The Trump administration has placed a trillion-dollar

OpenAI is requesting US government support to help guarantee financing for the massive investments in AI chips and data centers it needs for expansion

OpenAI Chief Financial Officer Sarah Friar said on Wednesday that the company is not planning to go public anytime soon, speaking on stage at the Wall Street Journal’s Tech Live conference. “IPO is not on the cards right now,” Friar said. “We are continuing to get the company into

Mortgage rates drop to the lowest level in over a year, pushing refinancing 111% higher annually

Housing affordability in the U.S. is being strained by several forces, especially persistently high mortgage rates. During the pandemic, buyers benefited from sub-3% rates, but by late 2023 rates hit 8%, and today are still around 6.5%–7%. Combined with home prices that are over 50% higher than

France is changing how it taxes wealth by including large cryptocurrency holdings under a new rule targeting what it calls “unproductive wealth"

France has passed a law taxing large cryptocurrency holdings, labeling them “unproductive wealth.” The tax applies to individuals with more than €2 million in total assets—including crypto, yachts, luxury cars, and unused property—at a 1% rate. Previously, France only taxed real estate wealth. Crypto now counts toward taxable

Not even a 0% interest rate would make a typical home affordable in New York, Los Angeles, Miami, San Francisco, San Diego, or San Jose

Housing affordability in the U.S. is being strained by several forces, especially persistently high mortgage rates. During the pandemic, buyers benefited from sub-3% rates, but by late 2023 rates hit 8%, and today are still around 6.5%–7%. Combined with home prices that are over 50% higher than

Gen Z thinks a salary of nearly $600,000 annually is what it takes to be "financially successful"

A recent report reveals that Generation Z—those born between 1997 and 2012—define "financial success" as earning nearly $600,000 annually. This figure is nearly double the salary considered successful by other generations and significantly exceeds the average American's yearly income. The survey, conducted by

U.S. may be forced to close some airspace next week if government shutdown continues

U.S. Transportation Secretary Sean Duffy said on Tuesday that if the federal government shutdown continues for another week, he may have to close portions of U.S. airspace to air traffic. He said this could lead to significant travel disruptions and contributed to a decline in airline stocks. The

Zohran Mamdani wins NYC Mayoral race

Zohran Mamdani, recently elected as mayor of New York City, marks several firsts: he will be the youngest mayor since 1892, the city’s first Muslim mayor, and the first mayor born in Africa. He entered the race last year with limited name recognition, a small budget, and without formal

Nearly a million New Yorkers to reportedly flee NYC as Mamdani becomes mayor

A J.L. Partners poll conducted for the Daily Mail shows that nine percent of New York City residents say they would “definitely” leave the city if Mamdani wins. Nine percent equates to about 765,000 New Yorkers, based on the city’s population of 8.5 million. The survey