policy

Federal Reserve Chair Jerome Powell dashed the hopes of investors again, repeating the central bank’s position that it will not be as quick to cut interest rates as the financial markets anticipate. During a lengthy interview with CBS News’ “60 Minutes” that aired on Feb. 4, Mr. Powell pledged to take a careful approach to […]

The NBA fined the Brooklyn Nets $100,000 on Thursday, marking the first time a team was sanctioned for violating the league’s player participation policy that went into effect this season. The Nets held out four rotation players—starters Spencer Dinwiddie, Nic Claxton, and Cam Johnson, along with key reserve Dorian Finney-Smith—in what became a 144–122 loss […]

The Federal Reserve’s preferred inflation gauge slowed at a better-than-expected pace in November as price pressures continued to subside heading into 2024. Last month, the annual personal consumption expenditure (PCE) price index eased to 2.6 percent, down from 2.9 percent in October, the lowest reading since February 2021. This also came in below the consensus […]

The annual defense policy bill is headed for the president’s desk, nearly three months late but just in time for a home-for-the-holidays Congress to end its dysfunctional year. House Conservatives raised objections over the massive package’s exclusion of “anti-woke” provisions that the chamber approved in July, including repeal of the Pentagon’s abortion travel policy, and […]

The Federal Reserve will hold its final Federal Open Market Committee policy meeting of 2023 this week and policymakers are expected to leave the benchmark interest rate unchanged at a range of 5.25 percent and 5.5 percent. But financial markets might be focusing more on what to expect next year. Fed officials will publish the […]

WASHINGTON—With inflation edging closer to the Federal Reserve’s 2 percent target, its policymakers are facing—and in some cases fueling—hopes that they will make a decisive shift in policy and cut interest rates next year, possibly as soon as spring. Such a move would reduce borrowing costs across the economy, making mortgages, auto loans, and business […]

The House Oversight Committee’s Cybersecurity, Information Technology, and Government Innovation Subcommittee holds a hearing on “White House Policy on AI” at 2:00 p.m. ET on Dec. 6. Witnesses: Ross Nodurft, executive director at Alliance for Digital Innovation Samuel Hammond, senior economist at the Foundation for American Innovation Kate Goodloe, managing director at The Software Alliance […]

Sen. Lindsey Graham (R-S.C.) on Sunday said a second Biden administration would be disastrous for the world, dismissing suggestions by former Rep. Liz Cheney that a second Trump term would be bad. In an appearance on CNN’s “State of the Union,” Mr. Graham was asked about Ms. Cheney’s recent comments during a CBS interview, in […]

A recent government report has highlighted serious lapses in safeguards against potential fraud in President Joe Biden’s scuttled plan to unilaterally forgive $430 billion in student loan debt. The Biden plan, announced in August 2022, aimed to provide relief ranging from $10,000 to $20,000 for 31 million federal student loan holders. Mired in legal challenges, […]

President Joe Biden will meet with Chinese communist leader Xi Jinping next week in an effort to stabilize the two nations’ fraught relationship. The two leaders will discuss a plethora of potentially explosive issues including Chinese election interference, the regime’s growing support for Russia and Iran, and the future of Taiwan, according to senior administration […]

Federal Reserve Chair Jerome Powell is “not confident” that the central bank has done enough to eradicate inflation from the U.S. economy, he stated in a prepared speech. Appearing before an International Monetary Fund (IMF) audience on Nov. 9, Mr. Powell warned that additional work must be done to restore price stability. “The Federal Open […]

The U.S. economy created 150,000 new jobs in October, falling short of the consensus estimate of 180,000, according to the Bureau of Labor Statistics (BLS). Officials also revised the August and September by 62,000 and 39,000, respectively. In total, 101,000 positions disappeared from the jobs arena. So far this year, eight of the last nine […]

The Federal Reserve left interest rates unchanged at the November Federal Open Market Committee (FOMC) policy meeting, keeping in line with economists’ expectations. Central bank officials voted to keep the benchmark fed funds rate at a range of 5.25 percent and 5.50 percent. Rate-setting Committee members are prepared to adjust monetary policy “as appropriate if […]

California Attorney General Rob Bonta has defied a federal court order by instructing school districts to continue enabling secret gender transitions, according to the Thomas More Society, a non-profit group specializing in civil liberties cases and constitutional law. Mr. Bonta issued the Sept. 26 memo, “Guidance Regarding Forced Disclosure Policies Concerning Gender Identity,” to school […]

The United States on Friday appointed veteran diplomat Mark Lambert as its top official for China policy amid strained relations between the two countries over geopolitics and trade issues. Mr. Lambert will be China coordinator and deputy assistant secretary of state for China and Taiwan, filling the post that had been vacated by Rick Waters […]

The U.S. annual inflation rate rose to 3.7 percent in August, coming in higher than economists’ expectations of 3.6 percent. This was up from the consumer price index (CPI) reading of 3.2 percent in July. According to the Bureau of Labor Statistics (BLS), the monthly inflation rate jumped 0.6 percent, up from 0.2 percent in […]

SAN FRANCISCO—Elon Musk said Thursday that his social network X, formerly known as Twitter, will give users the ability to make voice and video calls on the platform. Musk did not say when the features would be available to users. The company also updated its privacy policies that will allow for the collection of biometric […]