WASHINGTON – A divided Federal Reserve on Wednesday voted to keep its benchmark interest rate steady, despite a barrage of criticism from President Donald Trump and dissents from two top officials. The Federal Open Market Committee, the group that sets the overnight borrowing rate, voted 9-2 to stay on hold. The federal funds rate will…
Hiring at private companies rebounded at a stronger-than-expected pace in July, indicating the labor market is holding its ground, ADP reported Wednesday. Payrolls rose by a seasonally adjusted 104,000 for the month, reversing a loss of 23,000 in June and topping the Dow Jones forecast from economists for an increase of 64,000. The June number…
The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday. Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April through June period, according to…
DeWalt power tools are displayed at a Home Depot on May 2, 2025 in New York City. Michael M. Santiago | Getty Images Companies behind some of America’s best-known brands are warning that tariffs will raise costs by hundreds of millions of dollars as Friday’s key deadline nears. Firms are gearing up for the long-awaited…
Adidas shoes are displayed at a DSW store on January 31, 2024 in Novato, California. Justin Sullivan | Getty Images Shares of Adidas fell Wednesday after the German sportswear giant flagged a double-digit million euro hit from U.S. tariffs in the second quarter and warned that current import levies will push up the cost of its…
18 July 2025, Bremen, Bremerhaven: Containers are handled at the overseas port. Sina Schuldt/picture alliance via Getty Images) The euro zone economy eked out a better-than-expected 0.1% growth in the second quarter, compared to the previous three-month stretch, flash data from Eurostat showed Wednesday. Economists polled by Reuters had anticipated euro zone growth to flatline…
It’s a virtual three-way tie to replace Fed Chair Jerome Powell as Fed chair when his term expires. The CNBC Fed Survey found 24% of respondents saying President Donald Trump will replace Powell with Treasury Secretary Scott Bessent and 24% saying it will be former Fed Governor Kevin Warsh. Close behind is Kevin Hassett, director…
A cargo ship loads and unloads foreign trade containers at Qingdao Port in Qingdao, Shandong Province, China, on July 25, 2025. Nurphoto | Nurphoto | Getty Images Exports from China to the U.S. could fall by close to a half-trillion dollars ($485 billion) between now and 2027, according to a tariff simulator that forecasts shifts…
President Donald Trump said Monday that he will likely implement a blanket tariff between 15 and 20% on imports to the United States from countries that have not negotiated separate trade agreements. “For the world, I would say it’ll be somewhere in the 15 to 20% range … I just want to be nice,” Trump…
18 July 2025, Bremen, Bremerhaven: Containers are handled at the overseas port. Picture Alliance | Picture Alliance | Getty Images A tariff simulator shows a dramatic drop in global exports to the U.S. as a result of President Donald Trump new trade deal with the European Union. On Sunday, Trump announced a trade deal with the EU, following…
