Federal Reserve officials have strongly advocated for their separation from politics, but the presidential election is putting the institution on a crash course with partisan infighting. Fed officials set policy independently of the White House, meaning that while presidents can push for lower interest rates, they cannot force central bankers to lower borrowing costs. Congress…
A customer shops for groceries at a grocery store on March 12, 2024 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images The final inflation news that Federal Reserve officials will see before their policy meeting next week is in, and none of it is particularly good. Overall, Commerce Department indexes,…
President Biden on Wednesday called for significant increases in some tariffs on steel and aluminum products from China and spoke to members of a national steel workers union in Pittsburgh as he vied with former President Donald J. Trump for votes in northern industrialized states. “These are strategic and targeted actions that will protect American…
EU Commission President Ursula von der Leyen speaks during a press conference. Photo only | Getty Images European Commission chief Ursula von der Leyen said on Tuesday that Europe must speak forcefully with China about its alleged unfair trade practices, repeating calls from US Treasury Secretary Janet Yellen the previous day. Ahead of Chancellor Olaf…
Former President Donald Trump proclaimed Monday: “I’m a big supporter of tariffs” and suggested he would likely reinstate tariffs on foreign goods if he wins election to a second term. In a CNBC interview, Trump pointed to both economic and political benefits from selectively importing foreign goods into the United States “I fully believe in…
Kristalina Georgieva, Managing Director of the International Monetary Fund, at a press conference at IMF headquarters on April 14, 2023. Kevin Dietsch | Getty Images News | Getty Images The head of the International Monetary Fund warned that the Russian economy still faces significant headwinds despite the Washington-based institution’s recent growth upgrade. Russia’s economy has…
