Your Pulse On America: Live And Unfiltered
The World Economic Forum, the organization behind the annual gathering of world leaders in Davos, Switzerland, is investigating allegations of improper behavior by its founder, Klaus Schwab. The board of the World Economic Forum opened an inquiry into Mr. Schwab in April after receiving a letter, anonymously attributed to current and former staff members, claiming…
A temporary reprieve in trade tensions between the United States and China has reduced, but not eliminated, the odds of a shock to the economy that carries a whiff of stagflation, a top official at the Federal Reserve warned on Monday. Austan D. Goolsbee, president of the Federal Reserve Bank of Chicago, said tariffs and…
How much should I save in an emergency fund? Vanguard, the big mutual fund company, suggests setting aside $2,000, or half of one month’s expenses, whichever is greater, as a buffer to cover unexpected but common “shocks,” like a car or home repair or medical bill. Then, to protect against a possible job loss, it…
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 policies would ripple through the economy before taking any action on interest rates. Mr. Powell, who spoke after the Fed opted to extend a…
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, Toyota reported the highest annual profit ever recorded by a Japanese firm. On Thursday, Toyota presented a significantly more somber outlook, projecting that…
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 growth, a tricky combination that could lead to painful trade-offs for the central bank. A decision to stand pat would keep interest rates at 4.25 percent…
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 Chinese officials to limit the impact of the trade war with the United States. The central bank, the People’s Bank of China, cut…
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 collapse two years ago, would pay $510 million in fines for the role Credit Suisse played in helping clients evade taxes. Credit Suisse, among other…
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, lowering interest rates by half a percentage point and signaling further cuts to come. Rather than a panicky response to a crisis…
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, Mary Furmaniuk was single and had no children. Creating the trust, Mr. Furmaniuk said, was her way of making sure her assets…