Business

Markets are increasingly pricing in the chances of the Federal Reserve cutting interest rates at its next meeting in September following last week's weaker-than-expected jobs report.The Fed's policymaking arm, the Federal Open Market Committee (FOMC), has opted against cutting interest rates at all five of its meetings this year, including last week's, as stubborn inflation has remained higher than the central bank's 2% target and tariffs pose the threat of pushing inflation […]

President Donald Trump on Tuesday said Treasury Secretary Scott Bessent won't be in the running to become the next chair of the Federal Reserve. "He wants to stay where he is. I'll take him off the — because I asked him just last night, ‘Is this something you want?’ ‘Nope. I want to stay where I am.’ He actually said, ‘I want to work with you,’" Trump said during a CNBC […]

Sen. Chuck Grassley, R-Iowa, is placing a hold on three of President Donald Trump's nominees for the Treasury Department in protest against incoming rules that could limit tax credits for wind and solar energy.Grassley announced the move on Friday, saying he would temporarily block Trump's nominations for the department’s general counsel, assistant secretary and undersecretary.The senator noted that the Trump administration is planning to begin phasing out wind and solar […]

President Donald Trump's move to fire the commissioner of the Bureau of Labor Statistics (BLS) after a weaker-than-expected July jobs report and large revisions has spurred questions about how the agency gauges changes in the U.S. workforce. Trump terminated BLS Commissioner Erika McEntarfer on Friday and claimed she "faked the Jobs Numbers before the Election."The BLS reported that last month the U.S. economy added 73,000 jobs, well below the gain of 110,000 […]

Despite the whiplash of President Donald Trump’s tariffs, trade uncertainty and day-to-day market swings, investors are pouring money into exchange-traded funds to capture fast-moving stock and bond action. With $121 billion flowing into ETFs industrywide in July, the yearly tally hit $677 billion and is now on pace for a record $1.3 trillion for 2025, as tracked by State Street Research, the third-largest ETF firm, with over $1.2 trillion in assets.While […]

The U.S. is the global leader in artificial intelligence, but a new report shows China is rapidly expanding its development."China is moving incredibly quickly and could absolutely catch up if the United States falls off its game," said Gregory Allen, senior advisor with the Wadhwani AI center at the Center for Strategic and International Studies.According to Stanford's AI index report, the U.S. had 40 notable AI models in 2024, China […]

President Donald Trump’s praise for actress Sydney Sweeney's new ad campaign on Sunday may have boosted American Eagle Outfitter’s (AEO) stock value. After Trump praised the "Euphoria" star and her viral AE good "genes" ad, the fashion company’s shares rose by 23.65 percent Monday, closing at $13.28 a share.The stock hit a two-month-high intraday as Trump’s praise for Sweeney’s ad made the media rounds. The rally helped curb year-to-date losses for […]

The Trump administration's Social Security commissioner on Monday hit back at criticisms of "mismanagement" leveled by Sen. Elizabeth Warren, D-Mass., against the agency's changes to its customer service practices.Frank Bisignano, commissioner of the Social Security Administration (SSA), responded to Warren's criticisms in a letter exclusively reviewed by FOX Business ahead of its release. He defended the administration's changes and wrote that the SSA is "experiencing a customer service turnaround after four years […]

On Monday, Tesla granted CEO Elon Musk a new $29 billion pay deal aimed at keeping the billionaire entrepreneur at the helm as the company pivots from its struggling electric vehicle business to robotaxis and humanoid robots.The company described the "interim award" of 96 million new shares as a "good faith" payment to honor the more than $50 billion pay package from 2018 that was struck down by a Delaware court […]