This may not be an era in which Americans are awash in physical currency fattening their wallets, but we are awash in cash parked inside accounts that have been generating attractive yields thanks to Federal Reserve interest rate hikes to combat inflation. There is a record amount of cash in money market funds, roughly $7.6…
U.S. President Donald Trump and Lisa Cook, governor of the U.S. Federal Reserve Annabelle Gordon | Reuters | Al Drago | Bloomberg | Getty Images Lawyers for President Donald Trump on Thursday asked a federal appeals court to let his bid to fire Federal Reserve Board Governor Lisa Cook take effect before the central bank’s…
Scott Bessent, U.S. treasury secretary, in the Oval Office of the White House in Washington, D.C., on Aug. 6, 2025. Bonnie Cash | Bloomberg | Getty Images The search for the next Federal Reserve chair is continuing, with Treasury Secretary Scott Bessent taking point in meeting with several candidates on President Donald Trump’s short list….
US President Donald Trump speaks during a Religious Liberty Commission meeting at the Museum of the Bible in Washington, DC, US, on Monday, Sept. 8, 2025. Bloomberg | Bloomberg | Getty Images President Donald Trump on Wednesday appealed a federal judge’s order blocking him from firing Federal Reserve Governor Lisa Cook while a lawsuit challenging…
Asia-Pacific markets opened mixed Thursday after Wall Street continued to reach record highs over Fed-rate cut hopes and positive inflation data. Japan’s benchmark Nikkei 225 rose 0.23% in early trade, while the Topix index retreated 0.18%. South Korea’s Kospi advanced 0.67%, and the small-cap Kosdaq was up 0.2%. Over in Australia, the ASX/S&P 200 declined…
Lisa Cook takes the oath of office to serve as a member of the Board of Governors at the Federal Reserve System during a ceremony at the William McChesney Martin Jr. Building of the Federal Reserve May 23, 2022 in Washington, DC. Drew Angerer | Getty Images A federal judge on Tuesday night blocked President…
The city skyline of Lujiazui Shanghai Center in China, on March 13, 2024. Cfoto | Future Publishing | Getty Images Asia-Pacific markets opened mostly higher Wednesday ahead of key August inflation data from China. The mainland’s August consumer price index is expected to fall 0.2% from the previous year, according to economists polled by Reuters,…
The average rate on the 30-year fixed mortgage notched its biggest one-day drop in more than a year on Friday. Although mortgage rates are now at their lowest level since October, the average rate for a 30-year, fixed-rate mortgage is still just around 6.29%, according to Mortgage News Daily — a big leap from the under…
Mount Fuji and buildings in the Shinjuku district are reflected on a table at an observation deck in Tokyo, Japan, on December 24, 2013. Kiyoshi Ota | Bloomberg | Getty Images Asia-Pacific markets opened higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto import tariff of 15%,…
Lisa Cook, governor of the Federal Reserve, speaks during a Fed Listens event in Washington, D.C., on March 22, 2024. Al Drago | Bloomberg | Getty Images Federal Reserve Board Governor Lisa Cook “did not ever commit mortgage fraud,” her lawyer Abbe Lowell said Tuesday in a new court filing bolstering arguments why a judge…
